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S 1544 111th Congress Senate Labor and Employment Advisory bodies Employee benefits and pensions Government corporations and government-sponsored enterprises Government ethics and transparency, public corruption Pension Benefit Guaranty Corporation

Pension Benefit Guaranty Corporation Governance Improvement Act of 2009

Introduced: July 30, 2009 See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 30, 2009
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Jul 30, 2009
Introduced in Senate
 Plain-English summary Congressional Research Service

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.

What's happening now July 30, 2009

Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1