To waive sovereign immunity and extend the otherwise applicable statute of limitations for certain actions under the USEC Privatization Act.

Summary: Amends the USEC Privatization Act with respect to certain actions in U.S. district court related to accrued, vested pension benefits of employees of an operating contractor of the United States Enrichment Corporation (USEC) at one or both of the two USEC gaseous diffusion plants following: (1) termination of or a change in contractor; and (2) consequent transfer of pension plan assets and liabilities.

Authorizes specified active or retired participants (or beneficiaries) under the contractor's pension plan to bring an action against the Department of Energy in U.S. district court for relief, in the form of a one-time lump sum payment, in connection with such a transfer of plan assets and liabilities.

Authorizes commencement of such an action on or before June 30, 2011.

Waives U.S. sovereign immunity to any such an action.

SECTION 1. WAIVER OF SOVEREIGN IMMUNITY AND EXTENSION OF OTHERWISE 
              APPLICABLE STATUTE OF LIMITATIONS FOR CERTAIN ACTIONS 
              UNDER THE USEC PRIVATIZATION ACT.

    Section 3110(a)(7) of the USEC Privatization Act (42 U.S.C. 2297h-
8(a)(7)) is amended by adding at the end the following new 
subparagraph:
                    ``(D)(i) Any individual who, as of immediately 
                before any transfer of plan assets and liabilities as 
                required by paragraph (2) to a pension plan sponsored 
                by the private corporation referred to in paragraph (2) 
                which occurred on or before December 31, 2000, was an 
                active or retired participant (or a beneficiary) under 
                a pension plan maintained by an operating contractor of 
                a gaseous diffusion plant referred to in paragraph (1) 
                and who is an active or retired participant (or a 
                beneficiary) under the pension plan to which such 
                transfer was made may bring an action in any district 
                court of the United States having jurisdiction over the 
                parties, without regard to the amount in controversy or 
                the citizenship of the parties, against the Department 
                of Energy for relief described in clause (ii) from any 
                grievance in connection with such a transfer.
                    ``(ii) For purposes of clause (i), relief is a one-
                time lump sum payment, payable to such individual from 
                the appropriation made by section 1304 of title 31, 
                United States Code (popularly known as the Judgment 
                Fund), in an amount equal to not more than the amount 
                which bears the same ratio to the total recoverable 
                amount described in clause (iii) as the actuarial 
                present value of the accrued benefits of the individual 
                under the pension plan from which the transfer was made 
                (as of immediately before the transfer) bears to the 
                actuarial present value of the accrued benefits of all 
                individuals described in this clause under the pension 
                plan from which the transfer was made (as of 
                immediately before the transfer).
                    ``(iii) For purposes of clause (ii), the total 
                recoverable amount is an amount equal to the excess 
                of--
                            ``(I) the actuarial present value of 
                        benefits that would have been accrued by all 
                        individuals described in clause (i) under the 
                        pension plan from which the transfer was made 
                        if the transfer had not occurred and if benefit 
                        increases had occurred, in connection with the 
                        transferred liabilities, under such plan 
                        equivalent to benefit increases that have 
                        occurred under such plan in connection with the 
                        other liabilities under such plan, over
                            ``(II) the actuarial present value of 
                        benefits accrued by all such individuals under 
                        the pension plan to which the transfer was 
                        made.
                    ``(iv) For purposes of clause (iii), in an action 
                authorized by this subparagraph, the court shall 
                consider, with respect to the pension plan from which 
                the transfer was made and the pension plan to which the 
                transfer was made, only benefits which have been 
                accrued (or would have been accrued) as of the date of 
                enactment of this subparagraph.
                    ``(v) For purposes of this subparagraph, any 
                actuarial present value of benefits determined as of 
                any time shall take into account reasonably anticipated 
                subsequent adjustments to such benefits under plan 
                provisions (as in effect at such time) providing for 
                cost-of-living-adjustments.
                    ``(vi) For purposes of clauses (iii) and (iv), any 
                reference to the pension plan from which the transfer 
                was made shall include a reference to any successor to 
                such plan (other than the pension plan to which the 
                transfer required under paragraph (2) was made) if such 
                successor plan received assets in excess of the 
                actuarial present value of accrued benefits under such 
                plan upon succession.
                    ``(vii) Notwithstanding section 1658 of title 28, 
                United States Code, an action authorized by this 
                subparagraph may be brought on or before June 30, 2011.
                    ``(viii) Notwithstanding section 3109(a)(4), the 
                United States consents to any action commenced under 
                this subparagraph.
                    ``(ix) Nothing in this subparagraph shall authorize 
                an action against the Corporation or against any person 
                or entity other than the Department of Energy.''.