Corporate Advance Disclosure Act of 2005

H.R. 3031, the Corporate Advance Disclosure Act of 2005, would require publicly traded companies to notify the Securities and Exchange Commission (SEC) at least 60 days before creating or significantly increasing pension plans for their directors or top executives. These notifications would have to specifically detail the funding or increases for each individual officer or director involved. For the average citizen and investor, this measure aims to increase corporate transparency by providing advance public notice of high-level executive compensation changes before they take effect.