S.Amdt. 2658

This amendment allows for the movement of certain extra money from retiree health plans and defined benefit pension plans into active employee benefit funds and defined contribution plans.

The amendment aims to change the rules so that employers can transfer these extra assets without facing financial penalties, taxes, or income inclusion, provided they follow specific requirements.

• It allows excess health assets from a retiree health plan to be transferred to fund active employee benefits or a voluntary employees' beneficiary association.

• It allows surplus assets from a defined benefit plan to be transferred to a defined contribution plan without terminating the defined benefit plan.

• It requires plan administrators to give notice to plan participants and beneficiaries before these transfers take place.