H.R. 458 · 114th Congress
To amend the Employee Retirement Income Security Act of 1974 to permit multiemployer plans in critical status…
Full title
To amend the Employee Retirement Income Security Act of 1974 to permit multiemployer plans in critical status to modify plan rules relating to withdrawal liability, and for other purposes.
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Never voted on. It didn't reach a floor vote before the 114th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
SessionsSponsor1 cosponsor · 1 D
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Amends the Employee Retirement Income Security Act (ERISA) to revise requirements permitting multiemployer plans to adopt alternative rules for computing the payment of an employer's withdrawal liability to include a plan in critical status whose plan sponsor determines it cannot be expected to emerge from that status by the end of the rehabilitation period.
What it does: CRS summary · Introduced in House · Jan 21, 2015
Amends the Employee Retirement Income Security Act (ERISA) to revise requirements permitting multiemployer plans to adopt alternative rules for computing the payment of an employer's withdrawal liability to include a plan in critical status whose plan sponsor determines it cannot be expected to emerge from that status by the end of the rehabilitation period.
Requires any such rule to become effective 90 days after adoption unless the corporation disapproves it before the end of the 90-day period (subject to tolling while a request by the corporation for additional information is pending).
Authorizes a corporation to disapprove a rule only if it creates an unreasonable risk of loss to plan participants and beneficiaries or to the corporation.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: To amend the Employee Retirement Income Security Act of 1974 to permit multiemployer plans in critical status to modify plan rules relating to withdrawal liability, and for other purposes.
Latest action (Apr 29, 2015): Referred to the Subcommittee on Health, Employment, Labor, and Pensions.
Policy area: Labor and Employment · Origin: House · Introduced: Jan 21, 2015
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.