Pension Plan Reversion Moratorium Act of 1985 - Provides for a 270-day moratorium, beginning on June 12, 1985, on: (1) the Secretary of the Treasury's issuance of determinations of continuing qualification of certain retirement plans, under specified Internal Revenue Code provisions, upon actual or proposed plan terminations; and (2) the Pension Benefit Guaranty Corporation's issuance of notices of sufficiency of assets with respect to certain plans under specified provisions of the Employee Retirement Income Security Act of 1974. Makes such moratorium effective only in cases where plan termination has resulted or would result in an aggregate amount of reversions to employers in excess of $1,000,000.
Sets forth the effects of such moratorium on declaratory judgments relating to qualification and on the period of issuance of a notice of sufficiency.
Sets forth procedures under which the Secretary of Treasury may waive such moratorium in cases of substantial business hardship.
Declares that such moratorium shall not apply to multiemployer plans.
Introduced in House
Introduced in House
Referred to House Committee on Education and Labor.
Referred to House Committee on Ways and Means.
Referred to Subcommittee on Labor-Management Relations.
Llama 3.2 · runs locally in your browser
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line