A bill to amend the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code of 1986 with respect to early retirement benefits, and for other purposes.

This bill aims to protect the early retirement benefits of workers when their company is sold or merged with another business. Under current law, if a new employer does not continue the previous company’s pension plan, employees can lose out on "subsidized" early retirement benefits they were on track to earn. This legislation would require that employees receive a proportional share of those benefits based on their years of service at the time of the corporate transition. For the average worker, this means that a corporate merger would not automatically result in the loss of earned progress toward early retirement milestones.