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H.R. 2321 · 109th Congress

Pension Security Disclosure Act of 2005

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Never voted on. It didn't reach a floor vote before the 109th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

LDD DoggettSponsor
54 cosponsors · 53 D, 1 I

Pension Security Disclosure Act of 2005 - Amends the Employee Retirement Income Security Act of 1974 (ERISA) to require the Pension Benefit Guaranty Corporation (PBGC) to disclose publicly certain information on the funding status of pension plans, through making it available: (1) for inspection at PBGC headquarters; (2) in written form upon request of a…

What it does: CRS summary · Introduced in House · May 12, 2005

Pension Security Disclosure Act of 2005 - Amends the Employee Retirement Income Security Act of 1974 (ERISA) to require the Pension Benefit Guaranty Corporation (PBGC) to disclose publicly certain information on the funding status of pension plans, through making it available: (1) for inspection at PBGC headquarters; (2) in written form upon request of a plan participant or beneficiary; and (3) on a PBGC website. Requires pension plan administrators to provide to each plan participant and beneficiary a written summary of material provided to the PBGC, and notification that such material is on the PBGC website.

Authorizes, only in cases of hardship, the Secretary of Labor to extend the deadline for a pension plan to file an annual report past 275 days after the close of the plan year. Requires actuarial valuations in an annual report to be determined as of the last date of the plan year. Directs the Secretary to display annual report information on a Department of Labor website. Requires such information also to be displayed on any website maintained by the plan sponsor or administrator on the sponsor's behalf.

Requires issuance of summary annual reports within 15 days after annual report filing. Requires such summaries to include disclosure of plan assets and liabilities and notification that certain annual report information is on the Department of Labor website and on a plan sponsor or administrator website. Authorizes the Secretary to prescribe simplified requirements for summary annual reports of pension plans covering less than 100 participants.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: Pension Security Disclosure Act of 2005

Latest action (May 31, 2005): Referred to the Subcommittee on Employer-Employee Relations.

Policy area: Labor and Employment · Origin: House · Introduced: May 12, 2005

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.