S. 1610 · 108th Congress

Defined Benefit Pension Plan Reform Act of 2003

Stage
In committee
Sponsor
Evan Bayh
Introduced
2003-09-11
Latest action
2003-09-11 · Introduced in Senate

Summary

Defined Benefit Pension Reform Plan of 2003 - Amends the Internal Revenue Code (the Code) and the Employee Retirement Income Security Act of 1974 (ERISA) concerning minimum funding standards for pension plans to: (1) permit a multiemployer plan to elect to use an emergency investment loss method (as defined), starting in the first plan year in which there is an emergency investment loss; and (2) establish separate mortality tables for blue-collar and white-collar workers which may be used in lieu of the current table.

Amends the Code to modify the full-funding limitation for purposes of the deduction limits on employer pension contributions.

Amends ERISA to require notification of participants and beneficiaries of plan terminations by the Pension Benefit Guaranty Corporation.