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S 2598 116th Congress Senate Labor and Employment Administrative law and regulatory procedures Department of Labor Employee benefits and pensions Executive agency funding and structure Financial services and investments Pension Benefit Guaranty Corporation User charges and fees

Pension Stability Act

Introduced: October 15, 2019 Introduced by: Baldwin, Tammy Democratic · Wisconsin See on congress.gov
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This bill died when the 116th Congress ended
It never became law before the 116th Congress (2019–2020) 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 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 15, 2019
Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (Sponsor introductory remarks on measure: CR S5798)
Oct 15, 2019
Introduced in Senate
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 Plain-English summary Congressional Research Service

Pension Stability Act

This bill requires the Department of Labor to establish user fees for qualified professional asset managers (QPAMs) who have been convicted of a crime and apply for an individual exemption (known as a QPAM waiver) to the prohibited transaction rules under requirements for certain private benefit plans.

The fees

  • apply to large regulated banks, savings and loan associations, insurance companies, and federally registered investment advisors who are QPAMs;
  • must be at least $1 million per application for an individual exemption; and
  • increase based on the severity of the crime and the number of prior applications for individual exemptions.

Labor must transfer the amounts collected from the user fees to the Pension Benefit Guaranty Corporation to assist in guaranteeing benefits under pension plans.

What's happening now October 15, 2019

Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (Sponsor introductory remarks on measure: CR S5798)

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Independent 1
I
Sanders, Bernard
Vermont · Jan 8, 2020
Cite this page click to expand
APA
U.S. Congress. (2026). S. 2598: Pension Stability Act. 116th Congress. Open America. https://openamerica.io/bill/116-S-2598/
MLA
"S. 2598: Pension Stability Act." 116th Congress, 2026, Open America, https://openamerica.io/bill/116-S-2598/.
Bluebook (legal)
S. 2598, 116th Cong. (2026), https://openamerica.io/bill/116-S-2598/.
Markdown link
[S. 2598: Pension Stability Act](https://openamerica.io/bill/116-S-2598/)
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