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United States · Bill · HR

H.R. 7813 (94th)

A bill to amend the Employee Retirement Income Security Act of 1974.

referredUnited States· United States Congress· EN

Introduced

11 June 1975

Last action

11 June 1975 · Introduced

Status

Referred to House Committee on Education and Labor.

Sponsors

Rep. Dent, John H. [D-PA-21], Rep. Perkins, Carl Dewey [D-KY-7], Rep. Ashbrook, John M. [R-OH-17], Rep. Bell, Alphonzo [R-CA-27], Rescom. Benitez, Jamie [D-PR-At Large], Rep. Biaggi, Mario [D-NY-10], Rep. Clay, William (Bill) [D-MO-1], Rep. Cornell, Robert J. [D-WI-8], Rep. Erlenborn, John N. [R-IL-14], Rep. Goodling, William F. [R-PA-19], Rep. Hawkins, Augustus F. [D-CA-29], Rep. Lehman, William [D-FL-13], Rep. Miller, George [D-CA-7], Rep. Peyser, Peter A. [R-NY-23], Rep. Quie, Albert H. [R-MN-1], Rep. Risenhoover, Theodore M. [D-OK-2], Rep. Sarasin, Ronald A. [R-CT-5], Rep. Simon, Paul [D-IL-24], Rep. Thompson, Frank, Jr. [D-NJ-4], Rep. Zeferetti, Leo C. [D-NY-15], Rep. Daniels, Dominick V. [D-NJ-14]

Subjects

Discovery layer

Source updated

21 July 2025

Official sourceView documentsShare

Summary

Eliminates the requirement, under the Employee Retirement Income Security Act, that annual reports with respect to the present value of employee pension benefit plan liabilities describe allocation by termination priority categories. Increases the period of time for determining as a variable the amounts necessary to amortize credits to the funding standard account from 5 to 30 plan years. Requires that changes in actuarial methods be taken into account in determining credits to the funding standard account. States that in situations where the assets of a plan are held by two or more trustees, each shall use reasonable care to prevent a co-trustee from committing a breach of fiduciary responsibility and they shall jointly manage the assets of the plan. Revises the standards and available procedures for determining when liability for the breach of a co-fiduciary attaches. Sets forth amended standards governing fiduciary responsiblity with respect to fund assets. Eliminates restrictions on specified fiduciaries to receive reasonable compensation for services rendered. Makes the development of a system under which risks with respect to contingent liability insurance are equitably distributed between the Pension Benefit Guaranty Corporation and private insurers discretionary with the Corporation. Requires the Corporation to make such insurance available for employers by September 1, 1975.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 11 June 1975

    Introduced

    Referred to House Committee on Education and Labor.

    Source: IntroReferral

  2. 11 June 1975

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 11 June 1975

    Introduced

    Introduced in House

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

Sponsors

Related records

Sources

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