A bill to prohibit the suspension of an employee's benefit accrued under a retirement plan solely because of age before accruing the maximum normal retirement benefit.
Older Americans Pension Benefit Act - Amends the Age Discrimination in Employment Act of 1967 to prohibit any employee benefit plan from requiring or permitting the suspension or reduction of an employee's benefit accrual because of age before accruing the maximum normal retirement benefit.
Prohibits specified types of plans under the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code from suspending or reducing the rate of an employee's benefit accrual or employer contributions to the employee's account solely because of age.
Introduced in Senate
Read twice and referred to the Committee on Labor and Human Resources.
Subcommittee on Aging (Labor and Human Resources). Hearings held. Hearings printed: S.Hrg. 99-466.
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