A bill to eliminate the retroactive application of certain provisions of Public Law 96-364.

Amends the Multiemployer Pension Plan Amendments Act of 1980 to void any withdrawal liability retroactively incurred by employers who withdrew, partially or completely, from a multi-employer pension plan before September 26, 1980.

Requires plan sponsors to refund employers who have paid such withdrawal penalties. Permits deduction from such refunds of reasonable administrative expenses incurred in calculating and making them.

Changes the dates upon which the methods for computing employer withdrawal liability from such plans are based.