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house Bill H.R. 2863

Worker-Executive Parity Act of 2009

bill Progress


  • Not enacted
    The President has not signed this bill
  • The senate has not voted
  • The house has not voted
      house Committees
      Committee on Education and Labor
    IntroducedJune 12th, 2009

Bill Details

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Title

Worker-Executive Parity Act of 2009

Official Title

To amend title I of the Employee Retirement Income Security Act of 1974 to provide for treatment of certain deferred executive compensation arrangements which is comparable to certain funding-based limits on benefits and benefit accruals imposed on defined benefit pension plans under the Pension Protection Act of 2006.

Summary

Worker-Executive Parity Act of 2009 - Amends the Employee Retirement Income Security Act of 1974 (ERISA), in instances where a single-employer defined benefit pension plan is subject to certain funding-based limits on benefits and benefit accruals under the Pension Protection Act of 2006, to prohibit: (1) the accrual of deferred compensation to a disqualified individual pursuant to a covered deferred executive compensation arrangement during a plan year; and (2) the distribution of accrued deferred compensation to such individual during a plan year when such arrangements are established during or after the one-year period preceding the plan year.

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