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S 671 116th Congress Senate Labor and Employment Coal Employee benefits and pensions Government information and archives Mining

Miners Pension Protection Act

Introduced: March 6, 2019 Introduced by: Capito, Shelley Moore Republican · West Virginia 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
Mar 6, 2019
Read twice and referred to the Committee on Finance.
Mar 6, 2019
Introduced in Senate
 Plain-English summary Congressional Research Service

Miners Pension Protection Act

This bill transfers certain funds to provide pension benefits for retired coal miners who have been affected by issues such as coal company bankruptcies.

The Department of the Treasury must transfer additional funds to the 1974 United Mine Workers of America (UMWA) Pension Plan to pay pension benefits required under that plan if the annual limit on transfers under the Surface Mining Control and Reclamation Act of 1977 exceeds the amount required to be transferred for existing obligations of the Abandoned Mine Reclamation Fund. The bill also increases the annual limit on transfers from $490 million to $750 million.

The bill also allows in-service distributions under a pension plan or governmental section 457(b) plan at age 59-1/2 (currently age 62).

What's happening now March 6, 2019

Read twice and referred to the Committee on Finance.

 Committees of jurisdiction 1