A bill to amend the Internal Revenue Code of 1954 to prevent the avoidance of certain pension requirements through the use of leased employees.

Amends the Internal Revenue Code to repeal the safe harbor exemption from the pension requirements of qualified employee benefit plans in the case of leased employees covered by a plan which is maintained by the leasing organization.

Revises the definition of a leased employee for purposes of qualified employee benefit plans. Provides that a "leased employee" shall include any person who is not an employee of the recipient and who provides services to the recipient if: (1) such person has performed such services for the recipient on a substantially full-time basis for a period of at least one year; and (2) such services are of a type historically performed in the business field of the recipient or performed for the recipient on a long-term basis during each of the three preceding plan years.

Requires that any regulations prescribed with respect to employee leasing shall include provisions to minimize the recordkeeping requirements of an employer using the services of persons (other than employees) for a small percentage of the employer's total workload and only on a short-term basis.