To amend title I of the Employee Retirement Income Security Act of 1974 to require equitable funding of pension plans maintained by corporations which also maintain executive pension plans.
Summary
Employees' Pension Equity Act of 2003 - Amends the Employee Retirement Income Security Act of 1974 (ERISA) to require the funding of all other employees' non-executive pension plans to be within a certain range in relation to the funding for executive pension plans for highly compensated employees, if both types of pension plans are maintained by the same employer.
Sets a five-percent limit on the excess executive plan funding percentage for a plan year (by prohibiting the funded current liability percentage for the executive plan from exceeding that for the non-executive plan by more than five percent).
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