Rep. Richard E. Neal, D-Mass., introduced The Employee Pension...

Rep. Richard E. Neal, D-Mass., introduced The Employee Pension Portability and Accountability Act, which incorporates the Clinton administration’s pension proposals contained in the fiscal 2000 federal budget. The legislation includes administration proposals that would make it easier for employers to offer pension plans and for employees to retain their pension benefits when switching jobs. It also would encourage small businesses to set up pension plans and encourage more workers to use individual retirement accounts, he said in a statement. The legislation also would speed up vesting of employer matching contributions, require employers to give workers more information about their plans, and make it tougher for employers to exclude those earning more than $80,000 a year from being considered highly paid for purposes of non-discrimination tests.