The Administration, the House (the Pension Protection Act of 2005) and the
Senate (the National Employee Savings and Trust Equity Guaranty Act of
2005) have proposed legislation affecting qualified retirement plans and,
in particular, the funding of defined benefit pension plans. Effective
dates are for the 2006 or 2007 plan year depending on the proposal. While
there are significant differences in these proposals, the following common
themes exist:
