A bill to amend the Internal Revenue Code to permit foreign pension plans to invest in the United States on a nontaxable basis.

Amends the Internal Revenue Code to grant tax-exempt status to a trust, corporation, or fund formed by a foreign segregated asset pension plan maintained primarily for the benefit of nonresident alien employees. Requires, as a condition for such tax-exemption, that the pension plan be eligible for preferential tax treatment in the foreign country in which it is maintained.