(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)
Pension Stability Act - (Sec. 2) Amends the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code to temporarily replace (for plan years 2004 and 2005) the 30-year treasury bond interest rate with a rate based on conservatively invested long-term corporate bonds, for certain pension plan funding requirements.
(Sec. 3) Establishes the Commission on Defined Benefit Pension Plans to study and report to Congress on specified issues relating to such plan.
(Sec. 4) Requires Congress to act on any legislative proposal contained in the Commission's report within a certain period after receiving it.