A bill to amend title I of the Employee Retirement Income Security Act of 1974 to apply to welfare plans restrictions which currently apply to pension plans preventing cutbacks in benefits upon a merger or consolidation of plans or transfers of assets or liabilities between plans.

Amends the Employee Retirement Income Security Act of 1974 to prohibit all employee benefit plans (not just pension plans, as at present) from merging or transferring their assets or liabilities unless each plan participant receives benefits after such transfer which are either equal to or greater than the benefits received before such transfer.

Applies this Act to mergers and transfers occurring after April 12, 1984.