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HR 4029 114th Congress House

Pension Accountability Act

Official title: To amend the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code of 1986 with respect to participant votes on the suspension of benef… Show full official titleShow less

Official title: To amend the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code of 1986 with respect to participant votes on the suspension of benefits under multiemployer plans in critical and declining status.

Introduced: February 9, 2016 Introduced by: Joyce, David P. Republican · Ohio See on congress.gov
Labor and Employment Employee benefits and pensions
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This bill died when the 114th Congress ended
It never became law before the 114th Congress (2015–2016) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 23, 2016
Referred to the Subcommittee on Health, Employment, Labor, and Pensions.
Nov 17, 2015
Referred to the Committee on Education and the Workforce, and in addition to the Committee on Ways and Means, 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.
Nov 17, 2015
Introduced in House
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 Latest action March 23, 2016

Referred to the Subcommittee on Health, Employment, Labor, and Pensions.

 Plain-English summary Congressional Research Service

Pension Accountability Act

This bill amends the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code to revise rules for voting on the suspension of pension benefits under multiemployer plans in endangered or critical status. The bill changes the voting procedure for suspending plan benefits to provide that a suspension shall go into effect unless a majority of plan participants and beneficiaries who cast a vote (currently, a majority of all plan participants and beneficiaries) reject the suspension. The bill also eliminates the authority of the Department of the Treasury, in the case of systemically important plans, to override a vote of plan participants to reject a suspension. A plan is systemically important if projected financial assistance to the plan will exceed $1 billion if suspensions are not implemented.

 Related & companion bills 1
  • S 2147 Identical bill Pension Accountability Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 3
 Cosponsors 7
All 7 Democratic 5 Republican 1
D
Aguilar, Pete
California · Apr 26, 2016
Young, David
· Apr 26, 2016
 D
Cohen, Steve
Tennessee · Feb 9, 2016
 R
Griffith, H. Morgan
Virginia · Feb 9, 2016
 D
Dingell, Debbie
Michigan · Dec 18, 2015
 D
Garamendi, John
California · Dec 1, 2015
 D
Kaptur, Marcy
Ohio · Nov 19, 2015
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 4029: Pension Accountability Act. 114th Congress. Open America. https://openamerica.io/bill/114-HR-4029/
MLA
"H.R. 4029: Pension Accountability Act." 114th Congress, 2026, Open America, https://openamerica.io/bill/114-HR-4029/.
Bluebook (legal)
H.R. 4029, 114th Cong. (2026), https://openamerica.io/bill/114-HR-4029/.
Markdown link
[H.R. 4029: Pension Accountability Act](https://openamerica.io/bill/114-HR-4029/)
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