Employee Benefits Equity Act of 1990

Employee Benefits Equity Act of 1990 - Amends the Age Discrimination in Employment Act of 1967 to specify that it prohibits discrimination against older workers in employee benefits, with specified exceptions for legitimate business purposes and other conditions.

Provides that it shall not be considered discrimination with respect to income replacement benefits or other welfare benefits, if: (1) the amount or cost of such benefits is available for the year, and the present value of such benefits, available to the individual are no less than those for similarly situated younger employees; and (2) the individual has the option of receiving the same benefits as younger employees.

Provides that it shall not be considered discrimination with respect to employee benefits if an employer offers supplemental or subsidized early retirement benefits to subgroups of employees through either an ongoing plan or a temporary arrangement, but only if such supplemental benefit plan or arrangement (other than an early retirement subsidy or a social security supplement) serves a legitimate business purpose or provides, or has provided in the past, a supplemental benefit to each older employee that is at least equal to that offered to a similarly situated younger employee.

Allows employers to make an aged-based variance in employee benefits that has a legitimate business purpose, through specified types of arrangements.

Requires the Equal Employment Opportunity Commission to consult with the Secretaries of Labor and of the Treasury before it issues rules and regulations for carrying out this Act.