Airline Pension Fairness Act of 2012

Airline Pension Fairness Act of 2012 - Amends the Pension Protection Act of 2006 to extend special alternative funding rules for single-employer defined benefit retirement plans for commercial airlines for plan years 2012 and 2013.

[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5715 Introduced in House (IH)]

112th CONGRESS
  2d Session
                                H. R. 5715

 To amend the Pension Protection Act of 2006 to extend special funding 
  rules for certain plans maintained by commercial airlines, and for 
                            other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 10, 2012

 Mr. Andrews introduced the following bill; which was referred to the 
   Committee on Education and the Workforce, and in addition to the 
Committee on Ways and Means, for a period to be subsequently determined 
 by the Speaker, in each case for consideration of such provisions as 
        fall within the jurisdiction of the committee concerned

_______________________________________________________________________

                                 A BILL


 
 To amend the Pension Protection Act of 2006 to extend special funding 
  rules for certain plans maintained by commercial airlines, and for 
                            other purposes.

    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 ``Airline Pension Fairness Act of 
2012''.

SEC. 2. SPECIAL FUNDING RULES FOR CERTAIN PLANS MAINTAINED BY 
              COMMERCIAL AIRLINES.

    (a) In General.--Section 402(d)(1)(A) of the Pension Protection Act 
of 2006 (26 U.S.C. 430 note) is amended--
            (1) in the matter preceding clause (i), by striking 
        ``either a plan year beginning in 2006 or a plan year beginning 
        in 2007'' and inserting ``a plan year beginning in 2006, a plan 
        year beginning in 2007, a plan year beginning in 2012, or a 
        plan year beginning in 2013'';
            (2) in clause (i), by striking ``or'';
            (3) in clause (ii), by striking the period; and
            (4) by adding at the end the following:
                            ``(iii) not later than December 31, 2012, 
                        in the case of an election for a plan year 
                        beginning in 2012; or
                            ``(iv) not later than December 31, 2013, in 
                        the case of an election for a plan year 
                        beginning in 2013.''.
    (b) Restriction on Applicable Benefit Increases.--Section 
402(b)(3)(A) of such Act (26 U.S.C. 430 note) is amended by striking 
``if no applicable benefit'' and all that follows to the end of the 
subparagraph and inserting the following: ``if--
                            ``(i) in the case of a plan for which an 
                        election was made under subsection (a)(1) in 
                        which the first plan year to which such 
                        election applies is 2006 or 2007, no applicable 
                        benefit increase takes effect at any time 
                        during the period beginning on July 26, 2005, 
                        and ending on the day before the first day of 
                        the first applicable plan year; and
                            ``(ii) in the case of a plan for which an 
                        election was made under subsection (a)(1) in 
                        which the first plan year to which such 
                        election applies is 2012 or 2013, no applicable 
                        benefit increase takes effect at any time 
                        during the period beginning on November 29, 
                        2011, and ending on the day before the first 
                        day of the first applicable plan year.''.
    (c) Conforming Amendment.--Section 402(b)(4) of such Act (26 U.S.C. 
430 note) is amended by inserting ``or November 29, 2011, as 
applicable,'' after ``July 26, 2005,''.
    (d) Effective Date.--The amendments made by this section shall 
apply to plan years ending after the date of enactment of this Act.
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