Pension Accountability Act

Summary

Pension Accountability Act This bill amends the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code to revise rules for voting on the suspension of pension benefits under multiemployer plans in endangered or critical status. The bill changes the voting procedure for suspending plan benefits to provide that a suspension shall go into effect unless a majority of plan participants and beneficiaries who cast a vote (currently, a majority of all plan participants and beneficiaries) reject the suspension. The bill also eliminates the authority of the Department of the Treasury, in the case of systemically important plans, to override a vote of plan participants to reject a suspension. A plan is systemically important if projected financial assistance to the plan will exceed $1 billion if suspensions are not implemented.

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Timeline

1. 17 November 2015

   Introduced

   Referred to the Committee on Education and the Workforce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

2. 17 November 2015

   Introduced

   Referred to the Committee on Education and the Workforce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

3. 17 November 2015

   Introduced

   Introduced in House

   Source: IntroReferral

4. 17 November 2015

   Introduced

   Introduced in House

   Source: IntroReferral

5. 23 March 2016

   Referred

   Referred to the Subcommittee on Health, Employment, Labor, and Pensions.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 17 November 2015 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 17 November 2015

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 17 November 2015

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 17 November 2015

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  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Joyce, David P. [R-OH-14] · R · Sponsor
• Rep. Ryan, Tim [D-OH-13] · D · Sponsor
• Rep. Kaptur, Marcy [D-OH-9] · D · Cosponsor
• Rep. Kildee, Daniel T. [D-MI-5] · D · Cosponsor
• Rep. Johnson, Bill [R-OH-6] · R · Cosponsor
• David Scott · D · Cosponsor
• ROBERT BRADY · D · Cosponsor
• Rep. Garamendi, John [D-CA-8] · D · Cosponsor
• Rep. Ashford, Brad [D-NE-2] · D · Cosponsor
• Rep. Fortenberry, Jeff [R-NE-1] · R · Cosponsor
• Rep. Dingell, Debbie [D-MI-6] · D · Cosponsor
• Rep. Griffith, H. Morgan [R-VA-9] · R · Cosponsor
• Rep. Cohen, Steve [D-TN-9] · D · Cosponsor
• Rep. Young, David [R-IA-3] · R · Cosponsor
• Rep. Aguilar, Pete [D-CA-33] · D · Cosponsor
• · hsed00 · Standing
• · hswm00 · Standing

Related records

• related to → Pension Accountability Act