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S. 5045 116th Congress Senate

Chris Allen Multiemployer Pension Recapitalization and Reform Act of 2020

Official title: A bill to amend the Internal Revenue Code of 1986 and the Employee Retirement Income Security Act of 1974 to reform the treatment of multiemployer plans, to en… Show full official titleShow less

Official title: A bill to amend the Internal Revenue Code of 1986 and the Employee Retirement Income Security Act of 1974 to reform the treatment of multiemployer plans, to ensure the ability of the Pension Benefit Guaranty Corporation to provide guaranteed benefits of retirees, and for other purposes.

Introduced: December 17, 2020 Introduced by: Chuck Grassley Republican · Iowa See on congress.gov
Labor and Employment Accounting and auditingAdministrative remediesCivil actions and liabilityCorporate finance and management
More subjectsShow fewer subjects
Crimes against propertyDisability and paralysisEmployee benefits and pensionsFinancial services and investmentsGovernment corporations and government-sponsored enterprisesInterest, dividends, interest ratesPension Benefit Guaranty Corporation
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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
Dec 17, 2020
Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S7592-7593; text: CR S7593-7634)
Dec 17, 2020
Introduced in Senate
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 Latest action December 17, 2020

Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S7592-7593; text: CR S7593-7634)

 Plain-English summary Congressional Research Service

Chris Allen Multiemployer Pension Recapitalization and Reform Act of 2020

This bill makes various changes with respect to the administration of multiemployer pension plans. Among other provisions, the bill allows qualified plans to apply for special partition assistance from the Pension Benefit Guaranty Corporation, revises the criteria for plans that are in endangered or critical status, and establishes rules for new composite plans that have certain attributes of both defined benefit and defined contribution plans.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). S. 5045: Chris Allen Multiemployer Pension Recapitalization and Reform Act of 2020. 116th Congress. Open America. https://openamerica.io/bill/116-S-5045/
MLA
"S. 5045: Chris Allen Multiemployer Pension Recapitalization and Reform Act of 2020." 116th Congress, 2026, Open America, https://openamerica.io/bill/116-S-5045/.
Bluebook (legal)
S. 5045, 116th Cong. (2026), https://openamerica.io/bill/116-S-5045/.
Markdown link
[S. 5045: Chris Allen Multiemployer Pension Recapitalization and Reform Act of 2020](https://openamerica.io/bill/116-S-5045/)
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