I 
109TH CONGRESS 
1ST SESSION H. R. 3862 
To provide for appropriate waivers, suspensions, or exemptions from provi-
sions of title I of the Employee Retirement Income Security Act of 
1974 with respect to individual account plans affected by Hurricane 
Katrina. 
IN THE HOUSE OF REPRESENTATIVES 
SEPTEMBER 22, 2005 
Mr. BOEHNER (for himself, Mr. SAM JOHNSON of Texas, Mr. KLINE, Mr. 
JINDAL, and Mr. BOUSTANY) introduced the following bill; which was re-
ferred to the Committee on Education and the Workforce 
A BILL 
To provide for appropriate waivers, suspensions, or exemp-
tions from provisions of title I of the Employee Retire-
ment Income Security Act of 1974 with respect to indi-
vidual account plans affected by Hurricane Katrina. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Pension Flexibility for 
Displaced Workers Act of 2005’’.
SEC. 2. AUTHORITY TO PRESCRIBE GUIDANCE BY REASON 
OF THE PRESIDENTIALLY DECLARED DIS-
ASTER CAUSED BY HURRICANE KATRINA. 
(a) WAIVERS, SUSPENSIONS, OR EXEMPTIONS.—In 
the case of any pension plan which is an individual account 
plan, or any participant or beneficiary, plan sponsor, ad-
ministrator, fiduciary, service provider, or other person 
with respect to such plan, affected by Hurricane Katrina, 
or any service provider or other person dealing with such 
plan, the Secretary of Labor may, notwithstanding any 
provision of title I of the Employee Retirement Income 
Security Act of 1974, prescribe, by notice or otherwise, 
a waiver, suspension, or exemption from any provision of 
such title which is under the regulatory authority of such 
Secretary, or from regulations issued under any such pro-
vision, that such Secretary determines appropriate to fa-
cilitate the distribution or loan of assets from such plan 
to participants and beneficiaries of such plan. 
(b) EXEMPTION FROM LIABILITY
FOR ACTS
OR 
OMISSIONS COVERED BY WAIVER, SUSPENSION, OR EX-
EMPTION.—No person shall be liable for any violation of 
title I of the Employee Retirement Income Security Act 
of 1974, or of any regulations issued under such title, 
based upon any act or omission covered by a waiver, sus-
pension, or exemption issued under subsection (a) if such
act or omission is in compliance with the terms of the 
waiver, suspension, or exemption. 
(c) PLAN TERMS SUBJECT TO WAIVER, SUSPENSION, 
OR EXEMPTION.—Notwithstanding any provision of the 
plan to the contrary and to the extent provided in any 
waiver, suspension, or exemption issued by the Secretary 
of Labor pursuant to subsection (a), no plan shall be 
treated as failing to be operated in accordance with its 
terms solely as a result of acts or omissions which are 
consistent with such waiver, suspension, or exemption. 
(d) EXPIRATION OF AUTHORITY.—This section shall 
apply only with respect to waivers, suspensions, or exemp-
tions issued by the Secretary of Labor during the 1-year 
period following the date of the enactment of this Act. 
(e) DEFINITIONS.—Terms used in this section shall 
have the meanings provided such terms in section 3 of 
the Employee Retirement Income Security Act of 1974 
(29 U.S.C. 1002). 
SEC. 3. AUTHORITY IN THE EVENT OF PRESIDENTIALLY DE-
CLARED 
DISASTER 
OR 
TERRORISTIC 
OR 
MILITARY ACTIONS. 
Section 518 of the Employee Retirement Income Se-
curity Act of 1974 (29 U.S.C. 1148) is amended by insert-