A bill to change the 30-year treasury bond rate to a composite corporate rate, and to establish a commission on defined benefit plans.
Pension Stability Act - Amends the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code to replace the 30-year Treasury rate with a rate based on conservatively invested long-term corporate bonds for certain pension plan funding requirements. Sets forth rules for phasing in such new interest rate.
Establishes the Commission on Defined Benefit Pension Plans.
Introduced in Senate
Sponsor introductory remarks on measure. (CR S10683)
Read twice and referred to the Committee on Finance.
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