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HR 2233 109th Congress House

Pension Fairness and Full Disclosure Act of 2005

Official title: To amend title I of the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code of 1986 to limit the availability of benefits under an em… Show full official titleShow less

Official title: To amend title I of the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code of 1986 to limit the availability of benefits under an employer's nonqualified deferred compensation plans in the event that any of the employer's defined pension plans are subjected to a distress or PBGC termination in connection with bankruptcy reorganization or a conversion to a cash balance plan, to provide appropriate funding restrictions in connection with the maintenance of nonqualified deferred compensation plans, and to provide for appropriate disclosure with respect to nonqualified deferred compensation plans.

Introduced: May 10, 2005 See on congress.gov
Labor and Employment Administrative procedureAdministrative remediesBankruptcyCommerce
More subjectsShow fewer subjects
Corporate reorganizationsDefined benefit pension plansDepartment of LaborDepartment of the TreasuryEmployee rightsExcise taxExecutive compensationFinance and Financial SectorFines (Penalties)Government Operations and PoliticsGovernment paperworkLawPension fundsPension trust guaranty insuranceStandardsTax penaltiesTax-deferred compensation plansTaxationValuation
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This bill died when the 109th Congress ended
It never became law before the 109th Congress (2005–2006) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 22, 2005
Referred to the Subcommittee on Employer-Employee Relations.
May 10, 2005
Referred to the Committee on Education and the Workforce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
May 10, 2005
Sponsor introductory remarks on measure. (CR E923-924)
May 10, 2005
Introduced in House
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 Latest action June 22, 2005

Referred to the Subcommittee on Employer-Employee Relations.

 Plain-English summary Congressional Research Service

Pension Fairness and Full Disclosure Act of 2005 - Amends the Employee Retirement Income Security Act of 1974 (ERISA) to establish a termination fairness standard that limits availability of benefits under an employer's nonqualified deferred compensation plans if such employer's defined benefit pension plan is subjected to: (1) a termination based on bankruptcy reorganization; or (2) a conversion to a cash balance plan.

Prohibits funding nonqualified deferred compensation plans while maintaining underfunded defined benefit plans.

Amends the Internal Revenue Code to impose excise taxes on funding nonqualified deferred compensation plans: (1) in the event of a pension plan termination based on bankruptcy reorganization or of a conversion to a cash balance plan; or (2) while maintaining underfunded defined benefit plans.

Requires disclosure with respect to nonqualified deferred compensation plans.

 Related & companion bills 1
  • S 991 Related bill Pension Fairness and Full Disclosure Act of 2005
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 3
 Cosponsors 12
All 12 Democratic 10 Independent 1
BAIRD, BRIAN
· Jan 31, 2006
 D
Sherman, Brad
California · Sep 27, 2005
 D
Costa, Jim
California · May 17, 2005
 D
McGovern, James P.
Massachusetts · May 12, 2005
 D
Wasserman Schultz, Debbie
Florida · May 11, 2005
 D
Doggett, Lloyd
Texas · May 10, 2005
 D
Lynch, Stephen F.
Massachusetts · May 10, 2005
 D
Pallone, Frank
New Jersey · May 10, 2005
 D
Sánchez, Linda T.
California · May 10, 2005
 I
Sanders, Bernard
Vermont · May 10, 2005
 D
Schakowsky, Janice D.
Illinois · May 10, 2005
 D
Van Hollen, Chris
Maryland · May 10, 2005
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 2233: Pension Fairness and Full Disclosure Act of 2005. 109th Congress. Open America. https://openamerica.io/bill/109-HR-2233/
MLA
"H.R. 2233: Pension Fairness and Full Disclosure Act of 2005." 109th Congress, 2026, Open America, https://openamerica.io/bill/109-HR-2233/.
Bluebook (legal)
H.R. 2233, 109th Cong. (2026), https://openamerica.io/bill/109-HR-2233/.
Markdown link
[H.R. 2233: Pension Fairness and Full Disclosure Act of 2005](https://openamerica.io/bill/109-HR-2233/)
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