Pension Beneficiary Rights Act of 1997

Summary

Pension Beneficiary Rights Act of 1997 - Amends the Employee Retirement Income Security Act of 1974 to permit alternative dispute resolution of pension benefit claims, through arbitration, upon the request of an employee pension benefit plan participant or beneficiary. Entitles participants and beneficiaries, under specified conditions, to: (1) pre-judgment interest on unpaid benefits; (2) attorney's fees and costs of action; and (3) punitive damages for willful misconduct by the plan administrator or any other fiduciary of a pension plan. Requires annual reports to participants and beneficiaries to be in understandable language.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 26 September 1997

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• Introduced in House (PDF)

  Introduced in House · EN · 26 September 1997

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• Introduced in House

  summary · EN · 26 September 1997

  Open at official source

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