The Senate voted 93-5 Thursday to clear the measure, which was identical to a bill approved last week by the House.  The Act would require auto enrollment and allow investment advice to be given inside of your employer plan.   It would also have a huge impact on existing defined benefit pension plans. 

CNNMoney provides an update.

Make plans fully funded The law would require companies managing single-employer traditional pensions - so-called defined-benefit plans that offer a fixed and secure benefit at retirement - seven years to fully fund them beginning in 2008. Nationwide, promised benefits in corporate defined benefit pension programs covering nearly 35 million workers and retirees outpace assets in those plans by $450 billion, government figures show.

Extension for airlines Airlines get substantially more time to meet their obligations, a provision sought by bankrupt carriers Delta Air Lines and Northwest Airlines.