I
113th CONGRESS
2d Session
H. R. 5792
IN THE HOUSE OF REPRESENTATIVES
December 4, 2014
Mr. Kind (for himself, Mr. Neal, and Mr. Gerlach) 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 establish a special rule for determining normal retirement age for certain existing defined benefit plans.
Clarification of the normal retirement age
Amendments to ERISA
Section 204 of the Employee Retirement Income Security Act of 1974 is amended by redesignating subsection (k) as subsection (l) and by inserting after subsection (j) the following new subsection:
Special rule for determining normal retirement age for certain existing defined benefit plans
In general
For purposes of section 3(24), an applicable plan shall not be treated as failing to meet any requirement of this title, or as failing to have a uniform normal retirement age for purposes of this title, solely because the plan has adopted the normal retirement age described in paragraph (2).
Applicable plan
For purposes of this subsection—
In general
The term applicable plan means a defined benefit plan that, on or before the date of the introduction of this subsection, has adopted a normal retirement age which is the earlier of—
an age otherwise permitted under section 3(24), or
the age at which a participant completes the number of years (not less than 30 years) of benefit accrual service specified by the plan.
Expanded application
Subject to subparagraph (C), if, after the date described in subparagraph (A), an applicable plan expands the application of the normal retirement age described in subparagraph (A) to additional participants or participating employers, such plan shall be treated as an applicable plan also with respect to such participants or participating employers.
Limitation on expanded application
A defined benefit plan shall be an applicable plan only with respect to an individual who—
is a participant in the plan on or before January 1, 2017, or
is an employee at any time on or before January 1, 2017 of any employer participating in the plan, and who becomes a participant in such plan after such date.
.
Amendment to 1986 Code
Section 411 of the Internal Revenue Code of 1986 is amended by adding at the end the following new subsection:
Special rule for determining normal retirement age for certain existing defined benefit plans
In general
For purposes of subsection (a)(8), an applicable plan shall not be treated as failing to meet any requirement of this subchapter, or as failing to have a uniform normal retirement age for purposes of this subchapter, solely because the plan has adopted the normal retirement age described in paragraph (2).
Applicable plan
For purposes of this subsection—
In general
The term applicable plan means a defined benefit plan that, on or before the date of the introduction of this subsection, has adopted a normal retirement age which is the earlier of—
an age otherwise permitted under subsection (a)(8), or
the age at which a participant completes the number of years (not less than 30 years) of benefit accrual service specified by the plan.
Expanded application
Subject to subparagraph (C), if, after the date described in subparagraph (A), an applicable plan expands the application of the normal retirement age described in subparagraph (A) to additional participants or participating employers, such plan shall be treated as an applicable plan also with respect to such participants or participating employers.
Limitation on expanded application
A defined benefit plan shall be an applicable plan only with respect to an individual who—
is a participant in the plan on or before January 1, 2017, or
is an employee at any time on or before January 1, 2017, of any employer participating in the plan, and who becomes a participant in such plan after such date.
.
Effective date
The amendments made by this section shall apply to all periods before, on, and after the date of enactment of this Act.