A bill to amend the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code of 1954 to allow the use of a participant's contributions to certain defined contribution plans as security for a loan from a bank or insured credit union.

Amends the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code to provide that a loan made to a participant or beneficiary of certain pension plans by a bank or federally insured credit union shall not be treated as an assignment or alienation of pension plan benefits if: (1) the amount of the employee's interest in the plan which is security for the loan does not exceed specified limits; and (2) the administrator of the plan makes specified determinations with respect to the reasonableness of the loan.