To amend the Employee Retirement Income Security Act of 1974 to permit multiemployer plans in critical status to modify plan rules relating to withdrawal liability, and for other purposes.

Summary

Amends the Employee Retirement Income Security Act (ERISA) to revise requirements permitting multiemployer plans to adopt alternative rules for computing the payment of an employer's withdrawal liability to include a plan in critical status whose plan sponsor determines it cannot be expected to emerge from that status by the end of the rehabilitation period. Requires any such rule to become effective 90 days after adoption unless the corporation disapproves it before the end of the 90-day period (subject to tolling while a request by the corporation for additional information is pending). Authorizes a corporation to disapprove a rule only if it creates an unreasonable risk of loss to plan participants and beneficiaries or to the corporation.

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Timeline

1. 21 January 2015

   Introduced

   Referred to the House Committee on Education and the Workforce.

   Source: IntroReferral

2. 21 January 2015

   Introduced

   Introduced in House

   Source: IntroReferral

3. 21 January 2015

   Introduced

   Introduced in House

   Source: IntroReferral

4. 29 April 2015

   Referred

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

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 21 January 2015 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 21 January 2015

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 21 January 2015

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 21 January 2015

  Open at official source

Sponsors

• Pete Sessions · R · Sponsor
• Bill Pascrell · D · Sponsor
• · hsed00 · Standing

Related records

No cross-record relationships stored yet.