WASHINGTON — The House approved far-reaching pension legislation yesterday designed to make sure companies don't walk away from pensions promised to workers.

The bill would require more employers to fully fund pension plans, which now cover 44 million workers, and bolster the government-created insurance agency that steps in when companies terminate their plans or go out of business.

"Plans must meet a 100-percent funding requirement," said Rep. John Boehner, chairman of the House Education and Workforce Committee. "That is not the law today."

The House bill, approved 294-132, does not have a Senate-passed provision that would allow financially troubled airlines up to 20 years to correct their pension funding shortfalls. Airlines would be treated the same as other industries, with a seven-year transition deadline for meeting the new regulations.

House and Senate negotiators are expected to work out the differences between the two bills early next year.

James Klein, president of the American Benefits Council that represents large employers with pension plans, said the differences can be worked out because the two bills "essentially follow the same approach."

Labor unions, which dominate workplaces where pensions are offered, were divided over the House bill. Several unions, such as the Air Line Pilots Association and United Auto Workers, lobbied for passage under the theory the final version will be more favorable to their members.

The AARP and the Pension Rights Center opposed the House bill because it would allow employers to convert traditional pension plans into hybrid plans that would penalize older, long-tenured employees.

"It would legalize age discrimination," said Rep. Bernie Sanders, I-Vt.

Rep. George Miller, D-Calif., warned that the proposed reforms could backfire, resulting in troubled companies terminating their pension programs — as United Airlines did. It used Chapter 11 of the bankruptcy code to turn over the airline's pension plans to the federal Pension Benefit Guaranty Corporation.

The PBGC is already reeling from a series of large pension plan terminations that have created a $23 billion shortfall and an exposure to $108 billion in possible claims. The agency administers the monthly pension benefits for 1.3 million participants.

"Simply put, the current funding rules allow, even encourage, companies to chronically under fund their pension plans, effectively borrowing on a no-cost basis from their employees," Bradley Belt, the PBGC's executive director said Monday. "They encourage companies to avoid putting cash into pension plans when it serves other business interests."

Lawmakers and the Bush administration agree that the PBGC's shortfall needs to be rectified, but not on how to do it.

The administration has opposed special treatment for airlines such as Delta and Northwest, which are operating in Chapter 11 and have indicated their pension plans may be terminated.

Several House lawmakers from Delta's home state of Georgia and Northwest's headquarters in Minnesota voiced optimism that a deal for airlines can be worked out in conference with the Senate.