To amend the Internal Revenue Code of 1986 to facilitate portability, enhance pension coverage, and provide employers an optional simplified method of complying with certain pension requirements.

Amends the Internal Revenue Code to modify certain pension requirements to provide a simplified method for compliance. Entitles employers to the benefits of this Act if the employer maintains a qualified simplified defined contribution plan and a qualified simplified defined benefit plan.

Directs the Secretary of Labor and the Secretary of the Treasury to conduct a joint study of the feasibility of establishing a pension portability clearinghouse to accept rollovers from tax-qualified pension plans as well as to receive tax deductible contributions from employers not maintaining qualified pension plans.