A bill to amend the Employee Retirement Income Security Act of 1974 to require the Pension Benefit Guarantee Corporation to insure certain nonbasic benefits.

Amends the Employee Retirement Income Security Act of 1974 to require as part of the private pension plan termination insurance program that the Pension Benefit Guarantee Corporation insure during periods when a beneficiary is unemployed and not eligible for benefits under the Social Security Act benefits which (1) are forfeitable, have been in effect for less than 60 months, or are for others reasons deemed nonbasic, and (2) are payable before normal retirement age.