IB 
Union Calendar No. 172 
109TH CONGRESS 
1ST SESSION H. R. 2830 
[Report No. 109–232, Parts I and II] 
To amend the Employee Retirement Income Security Act of 1974 and the 
Internal Revenue Code of 1986 to reform the pension funding rules, 
and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
JUNE 9, 2005 
Mr. BOEHNER (for himself, Mr. THOMAS, Mr. SAM JOHNSON of Texas, Mr. 
KLINE, Mr. MCKEON, Mr. TIBERI, and Mr. BOUSTANY) introduced the 
following bill; which was 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 com-
mittee concerned 
SEPTEMBER 22, 2005 
Reported from the Committee on Education and the Workforce with an 
amendment 
[Strike out all after the enacting clause and insert the part printed in italic] 
SEPTEMBER 22, 2005 
Referral to the Committee on Ways and Means extended for a period ending 
not later than September 30, 2005 
SEPTEMBER 30, 2005 
Referral to the Committee on Ways and Means extended for a period ending 
not later than November 4, 2005 
NOVEMBER 4, 2005 
Referral to the Committee on Ways and Means extended for a period ending 
not later than November 18, 2005
NOVEMBER 18, 2005 
Referral to the Committee on Ways and Means extended for a period ending 
not later than December 6, 2005 
DECEMBER 6, 2005 
Additional sponsors: Mr. SHAW, Mr. SESSIONS, Mr. OTTER, Mr. CALVERT, 
Mr. WESTMORELAND, Mr. PRICE of Georgia, Mr. ISSA, Mr. BARTLETT 
of Maryland, Mr. MANZULLO, and Mr. GERLACH 
DECEMBER 6, 2005 
Reported from the Committee on Ways and Means with an amendment; com-
mitted to the Committee of the Whole House on the State of the Union 
and ordered to be printed 
[Strike out all after the enacting clause and insert the part printed in boldface roman] 
[For text of introduced bill, see copy of bill as introduced on June 9, 2005] 
A BILL 
To amend the Employee Retirement Income Security Act 
of 1974 and the Internal Revenue Code of 1986 to 
reform the pension funding rules, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE AND TABLE OF CONTENTS. 
(a) SHORT TITLE.—This Act may be cited as the 
‘‘Pension Protection Act of 2005’’. 
(b) TABLE OF CONTENTS.—The table of contents for 
this Act is as follows: 
Sec. 1. Short title and table of contents. 
TITLE I—REFORM OF FUNDING RULES FOR SINGLE-EMPLOYER 
DEFINED BENEFIT PENSION PLANS 
Subtitle A—Amendments to Employee Retirement Income Security Act of 1974 
Sec. 101. Minimum funding standards. 
Sec. 102. Funding rules for single-employer defined benefit pension plans. 
Sec. 103. Benefit limitations under single-employer plans.
Sec. 104. Technical and conforming amendments. 
Subtitle B—Amendments to Internal Revenue Code of 1986 
[See introduced bill, page 71, line 1 through page 140, line 13]. 
Subtitle C—Other Provisions 
Sec. 121. Modification of transition rule to pension funding requirements. 
Sec. 122. Treatment of nonqualified deferred compensation plans when employer 
defined benefit plan in at-risk status [See introduced bill, page 
142, line 3 through page 143, line 16]. 
TITLE II—FUNDING RULES FOR MULTIEMPLOYER DEFINED 
BENEFIT PLANS 
Subtitle A—Amendments to Employee Retirement Income Security Act of 1974 
Sec. 201. Funding rules for multiemployer defined benefit plans. 
Sec. 202. Additional funding rules for multiemployer plans in endangered or crit-
ical status. 
Sec. 203. Measures to forestall insolvency of multiemployer plans. 
Sec. 204. Withdrawal liability reforms. 
Sec. 205. Removal of restrictions with respect to procedures applicable to disputes 
involving withdrawal liability. 
Subtitle B—Amendments to Internal Revenue Code of 1986 
[See introduced bill, page 200, line 8 through page 251, line 15]. 
TITLE III—OTHER PROVISIONS 
Sec. 301. Interest rate assumption for determination of lump sum distributions. 
Sec. 302. Interest rate assumption for applying benefit limitations to lump sum 
distributions [See introduced bill, page 254, line 6 through page 
255, line 7]. 
Sec. 303. Distributions during working retirement. 
Sec. 304. Other amendments relating to prohibited transactions. 
Sec. 305. Correction period for certain transactions involving securities and com-
modities. 
Sec. 306. Government Accountability Office pension funding report. 
TITLE IV—IMPROVEMENTS IN PBGC GUARANTEE PROVISIONS 
Sec. 401. Increases in PBGC premiums. 
TITLE V—DISCLOSURE 
Sec. 501. Defined benefit plan funding notices. 
Sec. 502. Additional disclosure requirements. 
Sec. 503. Section 4010 filings with the PBGC. 
TITLE VI—INVESTMENT ADVICE 
Sec. 601. Amendments to Employee Retirement Income Security Act of 1974 pro-
viding prohibited transaction exemption for provision of invest-
ment advice.
Sec. 602. Amendments to Internal Revenue Code of 1986 providing prohibited 
transaction exemption for provision of investment advice [See 
introduced bill, page 287, line 15 through page 298, line 23]. 
TITLE VII—BENEFIT ACCRUAL STANDARDS 
Sec. 701. Improvements in benefit accrual standards. 
TITLE VIII—DEDUCTION LIMITATIONS 
[See introduced bill, page 299, line 1 through page 305, line 20]. 
TITLE I—REFORM OF FUNDING 
RULES 
FOR 
SINGLE-EM-
PLOYER 
DEFINED 
BENEFIT 
PENSION PLANS 
Subtitle A—Amendments to Em-
ployee Retirement Income Secu-
rity Act of 1974 
SEC. 101. MINIMUM FUNDING STANDARDS. 
(a) REPEAL OF EXISTING FUNDING RULES.—Sections 
302 through 308 of the Employee Retirement Income Secu-
rity Act of 1974 (29 U.S.C. 1082 through 1086) are re-
pealed. 
(b) NEW MINIMUM FUNDING STANDARDS.—Part 3 of 
subtitle B of title I of such Act (as amended by subsection 
(a)) is amended further by inserting after section 301 the 
following new section: 
‘‘MINIMUM FUNDING STANDARDS 
‘‘SEC. 302. (a) REQUIREMENT TO MEET MINIMUM 
FUNDING STANDARD.—
‘‘(1) IN GENERAL.—A plan to which this part 
applies shall satisfy the minimum funding standard 
applicable to the plan for any plan year. 
‘‘(2) MINIMUM FUNDING STANDARD.—For pur-
poses of paragraph (1), a plan shall be treated as sat-
isfying the minimum funding standard for a plan 
year if— 
‘‘(A) in the case of a defined benefit plan 
which is a single-employer plan, the employer 
makes contributions to or under the plan for the 
plan year which, in the aggregate, are not less 
than the minimum required contribution deter-
mined under section 303 for the plan for the 
plan year, 
‘‘(B) in the case of a money purchase plan 
which is a single-employer plan, the employer 
makes contributions to or under the plan for the 
plan year which are required under the terms of 
the plan, and 
‘‘(C) in the case of a multiemployer plan, 
the employers make contributions to or under the 
plan for any plan year which, in the aggregate, 
are sufficient to ensure that the plan does not 
have an accumulated funding deficiency under 
section 304 as of the end of the plan year.