<nobr>Jan 30, 2004</nobr>

H.R.3108 EAS - Pension Equity Funding Bill (full text)

The Senate on January 21 approved by a vote of 86-9 legislation (H.R.3108) to replace the 30-year Treasury bond with a composite corporate bond rate similar to the ERIC proposal first advanced in August 2002.

The Senate bill would also allow 80 percent of deficit reduction contributions in 2004 and 60 percent in 2005 for companies not subject to the contributions in 2000. Companies with plans that are less than 75 percent funded would be prohibited from increasing benefits during that time unless the increase is pursuant to a collective bargaining agreement. In addition, the legislation contains some multiemployer relief provisions.

Text Files:

Click here to view H.R.3108 EAS

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