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<nobr>Jul 1, 2005</nobr>
Education and Workforce Committee Approves H.R. 2830, with Amendments
The House Committee on Education and the Workforce approved the Pension Protection Act (H.R. 2830) on June 30, with 27 Republicans voting in favor of the measure and 22 Democrats voting "present." The bill was approved with a number amendments, including: - An amendment providing that plans that are 100% funded when credit balances are included will not be subject to the benefit limitations in the bill
- An amendment providing for the phase in of the 100% funding target over five years
- The inclusion of certain cash balance and hybrid plan provisions contained in H.R. 2831 clarifying age discrimination law as it relates to these plans. The provisions are prospective only
- An amendment enhancing the 4010 disclosure requirements
- An amendment changing the timing of Form 5500 disclosure notices
A copy of the Chairman's version of the bill considered by the Committee (the Chairman's mark) along with copies of the accepted amendments, as released this afternoon, are below.
Websites:
Boehner's Substitute
Boehner Amendment: Special Rules for Seriously Underfunded Plans
Boehner Amendment: Special Rules for Automatic Employer Surcharge
Scott Amendment: GAO Pension Funding Report
Kline Amendment: Funding Target Attainment Percentage
Kuhl & Andrews Amendment: Other Amendments Relating to Prohibited Transactions
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