A bill to amend title IV of the Employee Retirement Income Security Act of 1974 to postpone, for two years, the date on which the Pension Benefit Guaranty Corporation is required to pay benefits under terminated multiemployer plans.

Amends the Employee Retirement Income Security Act of 1974 to extend to July 1, 1981, the period during which the Pension Benefit Guaranty Corporation may pay benefits under terminated multiemployer plans under circumstances provided for in such Act.