To amend the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code of 1986 to allow multiemployer plans to amortize losses from certain fraudulent investment schemes over a 40-year period.

Amends the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code to permit the plan sponsor of a multiemployer pension plan to amortize net investment losses incurred from qualified fraudulent investment schemes after August 31, 2008, over a 40-year period in equal annual installments.