HR 4111 100th Congress House Labor and Employment Employee benefit plans Pension funds Trusts and trustees

Employer Reversion Moratorium Act of 1988

Introduced: March 9, 1988 See on congress.gov

Everywhere this bill has been 3 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Mar 22, 1988

Referred to Subcommittee on Labor-Management Relations.

Mar 9, 1988

Referred to House Committee on Education and Labor.

Mar 9, 1988

Introduced in House

Plain-English summary Congressional Research Service

Employer Reversion Moratorium Act of 1988 - Amends the Employee Retirement Income Security Act of 1974 to prohibit distributions to an employer, before October 1, 1989, of plan assets in connection with any single-employer defined benefit plan termination announced on or after March 9, 1988.

Makes plan fiduciaries jointly and severally liable for breach of fiduciary duty unless assets distributed upon plan termination are either distributed to plan participants and beneficiaries or paid into a trust whose terms provide for final disposition in accordance with applicable law in effect on October 1, 1989. Requires the dissolution of such a trust and the distribution of its assets during the month of October 1989.

What's happening now March 22, 1988

Referred to Subcommittee on Labor-Management Relations.

Committees of jurisdiction 2