Fair Labor Pension Practices Act

Fair Labor Pension Act - Amends the National Labor Relations Act to make it an unfair labor practice for any employer or labor organization to enter into any contract whereby such employer or labor organization establishes or maintains a benefit plan or a pension plan which was established prior to September 1, 1974, unless such plan qualifies for the guarantee of benefits under the Employee Retirement Income Security Act of 1974, or the labor organization maintains a plan for officers, directors, and other highly compensated employees which does qualify for the guarantee of such benefits.

Extends retroactive coverage by the Pension Benefit Guarantee Corporation to a plan determined to have been established pursuant to such an unfair labor practice.