PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the Subcommittee on Employer-Employee Relations.
Congressional Research Service
Version 00 · Introduced in House · Mar 7, 2002
Pension Improvement Act of 2002 - Amends the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code to: (1) revise requirements for reporting and disclosure with respect to defined contribution pension plans (including individual account plans, such as 401(k) plans), as well as for defined benefit plans; and (2) reduce premiums charged by the Pension Benefit Guaranty Corporation to certain employers providing defined benefit pension plans.Requires plan administrators to provide pension benefit statements: (1) for individual account plans, at least once annually to participants, and upon request to beneficiaries; and (2) for defined benefit plans, at least once every three years to employee participants with nonforfeitable accrued benefits, and upon request to participants or beneficiaries.Directs the Secretary of the Treasury to: (1) provide (together with the Secretary of Labor) simplified annual filing requirements for certain retirement plans with one participant or for fewer than 25 employees; (2) update the Employee Plans Compliance Resolution System; and (3) prescribe or modify certain regulations. Exempts plans maintained by any governmental entity from certain nondiscrimination rules. Revises ERISA provisions relating to the National Summit on Retirement Savings.Directs the Pension Benefit Guaranty Corporation (PBGC) to issue missing participant rules for multiemployer plans. Reduces PBGC premiums for new plans of small employers and for new and small plans. Authorizes the PBGC to pay interest on premium overpayment refunds. Revises rules for substantial owner benefits in terminated plans. Sets forth civil penalties for certain breaches of fiduciary duty.
People & committees
Rep. Portman, Rob [R-OH-2] · R–OH
Legislative record
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Referred to the Subcommittee on Employer-Employee Relations.
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.
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.
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.
Introduced in House
Introduced in House
Primary sources
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Source last updated: Mar 23, 2026. Consult Congress.gov for the current record.
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