A bill to extend the period during which certain payments are required to be made for the benefit of retired former employees; and to amend title 11 of the United States Code to prevent the rejection of contracts, whether executory or not, that provide hospitalization and health benefits to current or former employees of the debtor.

Amends the Departments of Commerce, Justice, and State, the Judiciary, and Related Agencies Appropriation Act, 1987 to require the bankruptcy trustee in any reorganization case to pay, until the adjournment sine die of the second session of the 100th Congress (current law sets the deadline at May 15, 1987), health, disability, or death benefits to retired former employees under a program established or maintained by the debtor prior to filing a bankruptcy petition.

Prohibits such a trustee from rejecting any executory or other contract that provides for hospitalization or health benefits for current or former employees of the debtor.