To amend the Internal Revenue Code of 1986 and title I of the Employee Retirement Income Security Act of 1974 with regard to pension integration, participation, and vesting requirements, to provide for division of pension benefits upon divorce unless other wise provided in qualified domestic relations orders, to provide for studies relating to cost-of-living adjustments and pension portability, to clarify the continued availability, under provisions governing domestic relations orders, of remedies relating to matters treated in such orders entered before 1985, and to provide for entitlement of divorced spouses under the Railroad Retirement Act of 1974 independent of the actual entitlement of the employee.
Pension Reform Act of 1995 - Amends the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code (IRC) with respect to pension integration, participation, and vesting requirements.
Extends applicability of new integration rules under the Tax Reform Act of 1986 to all existing accrued benefits.
Amends the IRC to disallow integration for simplified employee pensions, by repealing provisions relating to permitted disparity under rules limiting discrimination under simplified employee pensions.
Provides for eventual repeal of certain integration rules, by repealing for plan years beginning on or after January 1, 2003, IRC provisions relating to: (1) pension integration exceptions under nondiscrimination requirements for qualification; and (2) nondiscriminatory coordination of defined contribution plans with Old Age, Survivors and Disability Insurance.
Revises IRC minimum coverage requirements with respect to separate lines of business. Sets forth a special rule where the employer operates a single line of business. Limits a line of business exception.
Eliminates a special vesting rule for multiemployer plans under IRC and ERISA.
Provides for division of pension benefits upon divorce unless otherwise provided in qualified domestic relations orders.
Provides for the continued availability of remedies relating to rights of spouses to accrued benefits under pension plans under divorce case domestic relations orders entered before 1985.
Amends the Railroad Retirement Act of 1974 to revise provisions relating to divorced wives' eligibility for annuities.
Introduced in House
Introduced in House
Sponsor introductory remarks on measure. (CR E437-438)
Referred to the Committee on Ways and Means, and in addition to the Committee on Economic and Educational Opportunities, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Ways and Means, and in addition to the Committee on Economic and Educational Opportunities, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Ways and Means, and in addition to the Committee on Economic and Educational Opportunities, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Subcommittee on Employer-Employee Relations.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line