S. 1544 · 111th Congress
Pension Benefit Guaranty Corporation Governance Improvement Act of 2009
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
KohlSponsor3 cosponsors · 3 D
3 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Pension Benefit Guaranty Corporation Governance Improvement Act of 2009 - Amends the Employee Retirement Income Security Act of 1974 (ERISA) to revise requirements regarding the composition and duties of members of the board of directors of the Pension Benefit Guaranty Corporation (PBGC).
What it does: CRS summary · Introduced in Senate · Jul 30, 2009
Pension Benefit Guaranty Corporation Governance Improvement Act of 2009 - Amends the Employee Retirement Income Security Act of 1974 (ERISA) to revise requirements regarding the composition and duties of members of the board of directors of the Pension Benefit Guaranty Corporation (PBGC).
Requires: (1) the board to meet at least four times a year with a quorum of at least five members; and (2) board minutes be made public.
Requires the advisory committee to the PBGC to meet jointly with the board at least one time each year.
Requires the Director and members of the board of the PBGC to agree in writing to recuse themselves from participation in activities which potentially could be a conflict of interest.
Expresses the sense of Congress that: (1) the board should form committees, including an audit committee and an investment committee, to enhance the PBGC board's overall effectiveness; and (2) the PBGC should establish a risk management position that evaluates and mitigates risk it might experience.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Pension Benefit Guaranty Corporation Governance Improvement Act of 2009
Latest action (Jul 30, 2009): Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Policy area: Labor and Employment · Origin: Senate · Introduced: Jul 30, 2009
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.