H.R. 5292: Pension Fairness Act of 2004

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H.R. 5292: Pension Fairness Act of 2004

108th Congress · introduced 2004-10-08 · Labor and Employment · Latest: Sponsor introductory remarks on measure. (CR E1892-1893)

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Official title

Pension Fairness Act of 2004

Plain summary

Pension Fairness Act of 2004 - Amends the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code to limit the availability of benefits for corporate directors and executives under an employer's nonqualified deferred compensation plans in the event that any of such employer's defined pension plans are subjected to a distress termination, or to a termination where the Pension Benefit Guaranty Corporation (PBGC) takes over plan liabilities, in connection with bankruptcy reorganization or a conversion to a cash balance plan. Sets forth a termination fairness standard for nonqualified deferred compensation plans in cases where the corporation which is plan sponsor of a defined benefit plan adopts a plan amendment which: (1) terminates an underfunded workers' pension plan; or (2) converts a workers' pension plan into a cash balance plan that cuts benefits for workers with ten or more years of service under the plan, or takes away their choice to stay in their original plan. Disqualifies any director or executive officer of the corporation, for a five-year period after adoption of such an amendment, from: (1) accruing any amount under a nonqualified deferred compensation plan; and (2) receiving any distribution of accrued deferred compensation, if a nonqualified deferred compensation plan or amendment is established or adopted during or after the one-year period preceding the notice date of the defined benefit plan termination or conversion.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

PSI Sci description of the legislative step (not an opinion).

The strongest published arguments

Alternatives

Needs sources: no published alternatives yet (for example a different bill, a law instead of an amendment, or keeping current law). We only show items backed by a published source. Suggest one.

How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Miller, George [D-CA-7] · 20 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Lloyd Doggett (D-TX), Danny K. Davis (D-IL), Chris Van Hollen (D-MD), Janice D. Schakowsky (D-IL), Bernard Sanders (I-VT)

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Sources

• Congressional Research Service summary (Introduced in House)
• Congress.gov
• Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-108hr5292.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/108/hr>

Record fed-us-cong108-hr5292 · catalog fed-us-congress-bills-cong108 · updated 2026-11-15 by psicol fed-bills-cong108