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H.R. 4444 · 115th Congress

Rehabilitation for Multiemployer Pensions Act

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Never voted on. It didn't reach a floor vote before the 115th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

RND NealSponsor
174 cosponsors · 160 D, 14 R
SBD Bonamici JBD Beatty CBD Bustos LBD Blunt Rochester JCD Clyburn JCD Crowley ECD Cleaver KCD Castor ACD Carson DCD Cicilline DDD Davis DDD Dingell DED Evans AED Espaillat MFD Fudge GGD Green AHD Hastings BHD Higgins MKD Kaptur DKD Kildee SLD Levin SLD Lynch CMD Maloney GMD Moore RND Nolan END Norton GND Napolitano DND Norcross FPD Pallone TRD Ryan KRD Rice BSD Scott JSD Schakowsky GSD Sablan MTD Thompson NVD Velázquez FVD Vela MWD Waters FWD Wilson TCD Cárdenas KCD Clark AED Eshoo KED Ellison LFD Frankel SHD Hoyer CHD Hanabusa ZLD Lofgren SMD Maloney JND Nadler TOD O’Halleran NPD Pelosi LSD Slaughter DSD Soto PTD Tonko TWD Walz JCD Courtney CCD Crist JLD Lewis JLD Larson BMD McCollum EBD Blumenauer JCD Chu LDD Doggett VGD Gonzalez GMD Meng BPD Pascrell ASD Smith LSD Sánchez TSD Sewell RBD Brady SCD Cohen SCD Carbajal MDD DeSaulnier PJD Jayapal WKD Keating AKD Kuster RKD Krishnamoorthi MPD Pocan JPD Panetta JRD Raskin DWD Wasserman Schultz PWD Welch EED Esty RKD Kelly BLD Lee JMD McGovern WCD Clay ASD Sires HJD Jeffries RLD Larsen DLD Lipinski BWD Watson Coleman PDD DeFazio BFD Foster LGD Gutiérrez AGD Green DLD Loebsack DMD Matsui CPD Peterson JCD Castro SJD Jackson Lee ALD Lawson BSD Sherman ESD Swalwell NTD Torres JVD Vargas JBD Brownley GCD Connolly KCR Cramer DDD DeGette MDD Doyle EJD Johnson PKR King RKD Khanna BLD Luján JMD McNerney EPD Perlmutter CRD Ruppersberger CRD Richmond CSD Shea-Porter PVD Visclosky DBD Beyer JGD Garamendi JKD Kennedy SMD Moulton CPD Pingree MVD Veasey RKD Kind RKD Kihuen DPD Price JRD Rosen MTD Takano BFR Fitzpatrick DTD Titus AAD Adams DDR Donovan JLD Langevin BOD O’Rourke JPD Polis CSR Smith MCD Capuano FLR LoBiondo ALD Lowenthal RDD DeLauro TMR MacArthur ASD Schiff JSD Sarbanes DYR Young RCR Costello MLD Lujan Grisham JYD Yarmuth BSD Schneider NTD Tsongas PAD Aguilar GKD Butterfield MCD Cartwright JFR Fortenberry CLD Lamb TSD Suozzi LLR Lance BLD Lawrence BTD Thompson JSD Serrano SBD Bishop AMD McEachin TLD Lieu JSD Speier DYR Young JHD Huffman JKR Katko BHR Huizenga KSD Schrader LRD Roybal-Allard SPD Peters

39 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.

This bill establishes the Pension Rehabilitation Administration within the Department of the Treasury and a related trust fund to make loans to certain multiemployer defined benefit pension plans.

What it does: CRS summary · Introduced in House · Nov 16, 2017

Rehabilitation for Multiemployer Pensions Act

This bill establishes the Pension Rehabilitation Administration within the Department of the Treasury and a related trust fund to make loans to certain multiemployer defined benefit pension plans.

To receive a loan, a plan must be either in critical and declining status (including any plan with respect to which a suspension of benefits has been approved) or insolvent, if the plan became insolvent after December 16, 2014, and has not been terminated.

Treasury must issue bonds to fund the loan program and transfer amounts equal to the proceeds to the trust fund established by this bill. The Pension Rehabilitation Administration may use the funds, without a further appropriation, to make loans, pay principal and interest on the bonds, or for administrative and operating expenses.

The bill amends the Employee Retirement Income Security Act of 1974 (ERISA) to allow the sponsor of a multiemployer pension plan that is applying for a loan under this bill to also apply to the Pension Benefit Guaranty Corporation (PBGC) for financial assistance if, after receiving the loan, the plan will still become (or remain) insolvent within the 30-year period beginning on the date of the loan.

The bill also appropriates to the PBGC the funds that are necessary to provide the financial assistance required by this bill.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: Rehabilitation for Multiemployer Pensions Act

Latest action (Nov 16, 2017): Referred to the Committee on Education and the Workforce, and in addition to the Committees on Ways and Means, and Appropriations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Policy area: Labor and Employment · Origin: House · Introduced: Nov 16, 2017

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.