To establish a Federal annuity program to compensate participants in private pension plans which terminated before September 1, 1974, for nonforfeitable pension benefits which were lost by reason of the termination, and for other purposes.
Pension Restoration Act of 1990 - Establishes a Federal annuity program, administered by the Pension Benefit Guaranty Corporation, to compensate participants in plans which were terminated before September 1, 1974, for nonforfeitable pension benefits lost by reason of the termination.
Sets forth provisions for such annuity program relating to: (1) entitlement; (2) computation; (3) applications; (4) administrative appeals; (5) judicial review; (6) payment; (7) interagency coordination and cooperation; and (8) regulations.
Amends the Employee Retirement Income Security Act of 1974 to provide for use of certain funds to pay such annuities and the administrative costs of such program.
Introduced in House
Introduced in House
Referred to the House Committee on Education and Labor.
Referred to the House Committee on Ways and Means.
Referred to the Subcommittee on Labor-Management Relations.
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