A bill to amend the Internal Revenue Code of 1954 to permit certain retroactive amendments in qualified pension plans and to change certain provisions concerning qualification of pension plans.

Provides that under the Internal Revenue Code pension, profit-sharing, and stock bonus plans will not be deemed to have failed to meet qualification standards because of the excluding of employees covered by a collective-bargaining agreement which does not specifically provide for their inclusion. (Amends 26 U.S.C. 401)