Equal Treatment of Pensions and Bankruptcy Act of 2003

Equal Treatment of Pensions and Bankruptcy Act of 2003 - Amends Federal bankruptcy law to authorize the bankruptcy trustee to avoid a transfer of a debtor's interest in property to any trust or similar arrangement to fund supplemental retirement benefits or other deferred compensation for the benefit of an insider or other management employee made on or within one year before the bankruptcy petition filing date.

Authorizes the bankruptcy court, upon request of a party in interest or a committee of creditors, to allow such party or committee to commence and prosecute specified proceedings if the trustee either consents, or fails to commence such proceedings, and if the court finds that doing so is in the best interest of the estate and for the benefit of the estate.