YWCA Retirement Plan Preservation Act of 2005 - Sets forth special rules for treating retirement benefits provided by the Young Women's Christian Association Retirement Fund, under benefit accrual standards of the Employee Retirement Income Security Act of 1974 (ERISA), as not violating certain age discrimination rules under ERISA and the Age Discrimination in Employment Act of 1967 because of specified disparities with respect to older and younger participants.
[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4455 Introduced in House (IH)]
109th CONGRESS
1st Session
H. R. 4455
To clarify the status of retirement benefits provided by the Young
Women's Christian Association Retirement Fund under the benefit accrual
standards of the Employee Retirement Income Security Act of 1974.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
December 7, 2005
Mr. Andrews introduced the following bill; which was referred to the
Committee on Education and the Workforce
_______________________________________________________________________
A BILL
To clarify the status of retirement benefits provided by the Young
Women's Christian Association Retirement Fund under the benefit accrual
standards of the Employee Retirement Income Security Act of 1974.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``YWCA Retirement Plan Preservation
Act of 2005''.
SEC. 2. CLARIFICATION OF AGE DISCRIMINATION RULES.
(a) In General.--A pension plan described in subsection (b) shall
not be treated as failing to meet the requirements of section
204(b)(1)(H)(i) of the Employee Retirement Income Security Act of 1974
(29 U.S.C. 1054(b)(1)(H)(i)) or section 4(i)(1)(A) of the Age
Discrimination in Employment Act of 1967 (29 U.S.C. 623(i)(1)(A))
merely because it may reasonably be expected that the period over which
interest credits will be made to a participant's accumulation account
(or its equivalent) under the plan is longer for a younger participant.
This subsection shall not apply to any plan if the rate of any pay
credit or interest credit to such an account under the plan decreases
by reason of the participant's attainment of any age.
(b) Pension Plan Described.--A pension plan described in this
subsection is the defined benefit plan (as defined in section 3(35) of
the Employee Retirement Income Security Act of 1974 (29 U.S.C.
1002(35)) maintained as of December 6, 2005, by the Young Women's
Christian Association Retirement Fund, a corporation created by an Act
of the State of New York which became law on April 12, 1924.
SEC. 3. EFFECTIVE DATE.
The amendments made by this Act shall apply with respect to periods
beginning on or after the date of the enactment of this Act, except
that such amendments shall apply in the case of any civil action
brought on or after such date by one or more participants,
beneficiaries, or fiduciaries against--
(1) the Young Women's Christian Association Retirement
Fund,
(2) any local association of the Young Women's Christian
Association of the United States of America (or any tax-exempt
successor organization to a local association),
(3) the Young Women's Christian Association of the United
States of America, or
(4) any trustee, director, or employee of any entity
described in paragraph (1), (2), or (3),
alleging a violation (of section 204(b)(1)(H) of the Employee
Retirement Income Security Act of 1974 (29 U.S.C. 1054(b)(1)(H)),
section 4(i)(1)(A) of the Age Discrimination in Employment Act of 1967
(29 U.S.C. 623(i)(1)(A)), or both) occurring before, on, or after the
date of the enactment of this Act.
<all>
Introduced in House
Introduced in House
Referred to the House Committee on Education and the Workforce.
Referred to the Subcommittee on Employer-Employee Relations.
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