A bill to amend the Internal Revenue Code of 1954 to eliminate the requirement that States reduce the amount of unemployment compensation payable for any week by the amount of certain retirement benefits, and for other purposes.

(Measure passed House, amended, roll call #34 (306-97))

Amends the Internal Revenue Code requirement that States reduce the amount of unemployment compensation payable for any week by the amount of any pension, retirement pay, annuity, or other similar benefits received by an individual, to limit the application of such requirement to payments under a plan maintained or contributed to by a base period employer (any employer who paid wages on which the unemployment insurance eligibility of the claimant and the amount and duration of benefits is based) where services performed for such employer by the individual during the base period (or remuneration for such services) affects eligibility for, or increases the amount of, such pension, retirement or retired pay, annuity, or other payment. Permits State law to provide for limitation on the amount of any such reduction to take into account contributions made by the individual for the pension, retirement pay, annuity, or other similar periodic payments. Postpones the effective date of such requirement from March 31, 1980, to January 1, 1982.

Amends the Federal-State Extended Unemployment Compensation Act of 1970 to require a State law to extend an individual's period of eligibility for extended compensation benefits to any week beginning within two years after the last day of such individual's benefit year. Makes such requirement effective as of January 1, 1982.