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There is one summary for this bill. Bill summaries are authored by CRS.

Employee Pension Benefit Protection Act - Requires pension plans subject to this Act to provide for nonforfeitable pension benefits to vest in those employees whose employment by the employer is involuntarily terminated without cause, if such plan has been in effect for five years or three years after the effective date of this Act, whichever is later. Requires pension plans subject to this Act to comply with regulations set by the Secretary of Labor to provide that: (1) its participants may elect a surviving spouse's annuity; and (2) that participants making such election may have their benefit reduced, and such surviving spouse's annuity computed in accordance with reasonable actuarial methods approved by the Secretary.

Provides that any determination of the cause of termination of employment for purposes of this Act shall be made in accordance with regulations of the Secretary of Labor. Authorizes the Secretary to require a certificate of approval with respect to the above provisions of this Act. Provides for denial of any such certificate on the record after notice and opportunity for hearing. Prohibits the administrator of any pension plan for which a certificate of approval is required to maintain or operate such plan unless a certificate has been obtained.

Authorizes the Secretary of Labor to investigate any facts, conditions, practices or matters which he may deem necessary to determine whether any person has violated or is about to violate this Act. Authorizes the Secretary to bring an action in the proper district court of the United States to enjoin acts or practices that appear to the Secretary to constitute a violation of this Act.

Provides a penalty of not more than a $10,000 fine or imprisonment of not more than five years or both for violations of this Act by individuals, and a penalty of a fine not exceeding $200,000 in the case of a violation by a person not an individual.

There is one summary for this bill. Bill summaries are authored by CRS.

Employee Pension Benefit Protection Act - Requires pension plans subject to this Act to provide for nonforfeitable pension benefits to vest in those employees whose employment by the employer is involuntarily terminated without cause, if such plan has been in effect for five years or three years after the effective date of this Act, whichever is later. Requires pension plans subject to this Act to comply with regulations set by the Secretary of Labor to provide that: (1) its participants may elect a surviving spouse's annuity; and (2) that participants making such election may have their benefit reduced, and such surviving spouse's annuity computed in accordance with reasonable actuarial methods approved by the Secretary.

Provides that any determination of the cause of termination of employment for purposes of this Act shall be made in accordance with regulations of the Secretary of Labor. Authorizes the Secretary to require a certificate of approval with respect to the above provisions of this Act. Provides for denial of any such certificate on the record after notice and opportunity for hearing. Prohibits the administrator of any pension plan for which a certificate of approval is required to maintain or operate such plan unless a certificate has been obtained.

Authorizes the Secretary of Labor to investigate any facts, conditions, practices or matters which he may deem necessary to determine whether any person has violated or is about to violate this Act. Authorizes the Secretary to bring an action in the proper district court of the United States to enjoin acts or practices that appear to the Secretary to constitute a violation of this Act.

Provides a penalty of not more than a $10,000 fine or imprisonment of not more than five years or both for violations of this Act by individuals, and a penalty of a fine not exceeding $200,000 in the case of a violation by a person not an individual.

There is one summary for this bill. Bill summaries are authored by CRS.

Employee Pension Benefit Protection Act - Requires pension plans subject to this Act to provide for nonforfeitable pension benefits to vest in those employees whose employment by the employer is involuntarily terminated without cause, if such plan has been in effect for five years or three years after the effective date of this Act, whichever is later. Requires pension plans subject to this Act to comply with regulations set by the Secretary of Labor to provide that: (1) its participants may elect a surviving spouse's annuity; and (2) that participants making such election may have their benefit reduced, and such surviving spouse's annuity computed in accordance with reasonable actuarial methods approved by the Secretary.

Provides that any determination of the cause of termination of employment for purposes of this Act shall be made in accordance with regulations of the Secretary of Labor. Authorizes the Secretary to require a certificate of approval with respect to the above provisions of this Act. Provides for denial of any such certificate on the record after notice and opportunity for hearing. Prohibits the administrator of any pension plan for which a certificate of approval is required to maintain or operate such plan unless a certificate has been obtained.

Authorizes the Secretary of Labor to investigate any facts, conditions, practices or matters which he may deem necessary to determine whether any person has violated or is about to violate this Act. Authorizes the Secretary to bring an action in the proper district court of the United States to enjoin acts or practices that appear to the Secretary to constitute a violation of this Act.

Provides a penalty of not more than a $10,000 fine or imprisonment of not more than five years or both for violations of this Act by individuals, and a penalty of a fine not exceeding $200,000 in the case of a violation by a person not an individual.

There is one summary for this bill. Bill summaries are authored by CRS.

Employee Pension Benefit Protection Act - Requires pension plans subject to this Act to provide for nonforfeitable pension benefits to vest in those employees whose employment by the employer is involuntarily terminated without cause, if such plan has been in effect for five years or three years after the effective date of this Act, whichever is later. Requires pension plans subject to this Act to comply with regulations set by the Secretary of Labor to provide that: (1) its participants may elect a surviving spouse's annuity; and (2) that participants making such election may have their benefit reduced, and such surviving spouse's annuity computed in accordance with reasonable actuarial methods approved by the Secretary.

Provides that any determination of the cause of termination of employment for purposes of this Act shall be made in accordance with regulations of the Secretary of Labor. Authorizes the Secretary to require a certificate of approval with respect to the above provisions of this Act. Provides for denial of any such certificate on the record after notice and opportunity for hearing. Prohibits the administrator of any pension plan for which a certificate of approval is required to maintain or operate such plan unless a certificate has been obtained.

Authorizes the Secretary of Labor to investigate any facts, conditions, practices or matters which he may deem necessary to determine whether any person has violated or is about to violate this Act. Authorizes the Secretary to bring an action in the proper district court of the United States to enjoin acts or practices that appear to the Secretary to constitute a violation of this Act.

Provides a penalty of not more than a $10,000 fine or imprisonment of not more than five years or both for violations of this Act by individuals, and a penalty of a fine not exceeding $200,000 in the case of a violation by a person not an individual.