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HR 2117 115th Congress House Labor and Employment Corporate finance and management Employee benefits and pensions

Multi-Employer Pension Plan Partnership Act of 2017

Introduced: April 25, 2017 Introduced by: Sessions, Pete Republican · Texas 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
Apr 25, 2017
Referred to the House Committee on Education and the Workforce.
Apr 25, 2017
Introduced in House
 Plain-English summary Congressional Research Service

Multi-Employer Pension Plan Partnership Act of 2017

This bill amends the Employee Retirement Income Security Act of 1974 (ERISA) to permit multiemployer pension plans that are in critical status and not expected to emerge from the status by the end of the rehabilitation period to adopt rules to forestall or avoid insolvency by revising the plan's terms and conditions for computing an employer's withdrawal liability.

Any such rule becomes 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). A corporation may disapprove a rule only if the rule creates an unreasonable risk of loss to plan participants and beneficiaries or to the corporation.

What's happening now April 25, 2017

Referred to the House Committee on Education and the Workforce.

 Committees of jurisdiction 1