S. 861 · 109th Congress
Employee Pension Preservation 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.
R
IsaksonSponsor6 cosponsors · 4 D, 2 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Employee Pension Preservation Act of 2005 - Amends the Internal Revenue Code and the Employee Retirement Income Security Act (ERISA) to permit commercial passenger airline pension plans to elect to restructure their unfunded plan liabilities over a 25-year period. Prohibits plans that elect restructuring to accrue future unfunded pension plan liabilities.
What it does: CRS summary · Introduced in Senate · Apr 20, 2005
Employee Pension Preservation Act of 2005 - Amends the Internal Revenue Code and the Employee Retirement Income Security Act (ERISA) to permit commercial passenger airline pension plans to elect to restructure their unfunded plan liabilities over a 25-year period. Prohibits plans that elect restructuring to accrue future unfunded pension plan liabilities. Authorizes the Secretary of the Treasury to deny tax-exempt status to a successor of a plan restructured under this Act unless all benefit obligations of the restructured plan have been satisfied.
Amends ERISA to exempt the Pension Benefit Guaranty Corporation (PBGC) from liability for any unfunded pension plan liabilities incurred by commercial passenger airline pension plans after an election to restructure is made.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Employee Pension Preservation Act of 2005
Latest action (Apr 20, 2005): Read twice and referred to the Committee on Finance.
Policy area: Labor and Employment · Origin: Senate · Introduced: Apr 20, 2005
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.