Detailed Instructions: In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
Problem:TITLE I--OVERTIME RIGHTS PROTECTION

SEC. 101. CLARIFICATION OF REGULATIONS RELATING TO OVERTIME
COMPENSATION.

Section 13 of the Fair Labor Standards Act of 1938 (29 U.S.C. 213)
is amended by adding at the end the following:
''(k)(1) Notwithstanding the provisions of subchapter II of chapter
5 and chapter 7 of title 5, United States Code (commonly referred to as
the Administrative Procedures Act) or any other provision of law, any
portion of the final rule promulgated on April 23, 2004, revising part
541 of title 29, Code of Federal Regulations, that exempts from the
overtime pay provision of section 7 of this Act any employee who would
not otherwise be exempt if the regulations in effect on March 31, 2003,
remained in effect, shall have no force or effect and that portion of
such regulations (as in effect on March 31, 2003) that would prevent
such employee from being exempt shall be reinstated.
''(2) The Secretary shall adjust the minimum salary level for
exemption under section 13(a)(1) in the following manner:
''(A) Not later than 60 days after the date of enactment of
this subsection, the Secretary shall increase the minimum
salary level for exemption under subsection (a)(1) for
executive, administrative, and managerial occupations from the
level of $155 per week in 1975 to $591 per week (an amount
equal to the increase in the Employment Cost Index (published
by the Bureau of Labor Statistics) for executive,
administrative, and managerial occupations between 1975 and
2005).
''(B) Not later than December 31 of the calendar year
following the increase required in subparagraph (A), and each
December 31 thereafter, the Secretary shall increase the
minimum salary level for exemption under subsection (a)(1) by
an amount equal to the increase in the Employment Cost Index
for executive, administrative, and managerial occupations for
the year involved.''.

TITLE II--FAIR MINIMUM WAGE

SEC. 111. MINIMUM WAGE.

(a) In General.--Section 6(a)(1) of the Fair Labor Standards Act of
1938 (29 U.S.C. 206(a)(1)) is amended to read as follows:
''(1) except as otherwise provided in this section, not
less than--
''(A) $5.85 an hour, beginning on the 60th day
after the date of enactment of this paragraph;
''(B) $6.55 an hour, beginning 12 months after that
60th day; and
''(C) $7.25 an hour, beginning 24 months after that
60th day;''.
(b) Effective Date.--The amendment made by subsection (a) shall
take effect 60 days after the date of enactment of this Act.

TITLE III--SENSE OF THE SENATE REGARDING MULTIEMPLOYER PENSION PLANS

SEC. 121. SENSE OF THE SENATE REGARDING MULTIEMPLOYER PENSION PLANS.

(a) Findings.--The Senate makes the following findings:
(1) Multiemployer pension plans have been a major force in
the delivery of employee benefits to active and retired
American workers and their dependents for over half a century.
(2) There are approximately 1,700 multiemployer defined
benefit pension plans in which approximately 9,700,000 workers
and retirees participate.
(3) Three-quarters of the approximately 60,000 to 65,000
employers that participate in multiemployer plans have fewer
that 100 employees.
(4) Multiemployer plans allow for greater access and
affordability for smaller employers and pension portability for
their employees as they move from one job to another, and
permit workers to earn a pension where they might otherwise not
be able to do so.
(5) The 2000-2002 drop in the stock market and decline in
equity values has affected all investors, including
multiemployer plans.
(6) The decline in value sustained by multiemployer defined
benefit pension plans have threatened the stability of this
private sector source of secure retirement income.
(7) Participating employers could face onerous excise taxes
and other penalties as a result of the serious, adverse
financial impact due to these market losses.
(8) In 2004, the United States Senate recognized the
severity of this situation and passed by an overwhelmingly,
large bipartisan margin of 86 to 9 temporary relief provisions
for single and multiemployer defined benefit pension plans.
(b) Sense of the Senate.--It is the sense of the Senate that the
Senate--
(1) expresses its strong support for multiemployer defined
benefit pension plans;
(2) recognizes the importance of an environment in which
multiemployer plans can continue their vital role in providing
benefits to working men and women;
(3) recognizes that multiemployer pension plan relief must
be designed for the multiemployer labor-relations environment
that supports the plans; and
(4) supports legislation to strengthen and protect the
viability of multiemployer pension plans for the continued
benefit of current and retired members, and their families and
survivors, and to strengthen the ability of all plans to
address funding problems that occur.
Solution:
Amends the Fair Labor Standards Act of 1938 (FLSA) to deny any force or effect to any portion of a rule promulgated on April 23, 2004, that has the effect of exempting from FLSA overtime compensation requirements (which limit maximum hours at regular compensation) any employee who would not otherwise be exempted if regulations in effect on March 31, 2003, remained in effect. Reinstates that portion of such regulations that would prevent such an employee from being exempt. Directs the Secretary of Labor to increase, in a specified manner, the minimum salary level for the exemption for executive, administrative, and managerial occupations from FLSA overtime compensation requirements.

Amends the FLSA to increase the Federal minimum wage to: (1) $5.85 an hour, beginning on the 60th day after enactment of this Act; (2) $6.55 an hour, beginning 12 months after that 60th day; and (3) $7.25 an hour, beginning 24 months after that 60th day.

Expresses the sense of the Senate regarding multiemployer pension plans.