Emergency Retiree Health Benefits Protection Act of 2002

Summary

Emergency Retiree Health Benefits Protection Act of 2002 - Amends the Employee Retirement Income Security Act of 1974 (ERISA) to provide emergency protections for retiree health benefits. Prohibits group health plans from making post-retirement reductions of retiree health benefits. Requires group health plans to adopt provisions barring post-retirement reductions in retiree health benefits. Requires group health plans to restore benefits reduced after retirement. Authorizes the Secretary of Labor to waive or vary such requirements, if a plan sponsor applies for such exemption, upon finding that compliance would: (1) be adverse to the interests of plan participants in the aggregate; (2) not be administratively feasible; and (3) cause substantial business hardship to the sponsor. Establishes the Emergency Retiree Health Loan Guarantee Program and its Board. Authorizes the Program, through its Board, to guarantee loans provided by private banking and investment institutions to eligible plan sponsors to assist them in meeting obligations under this Act to restore benefits reduced after retirement. Authorizes the Secretary to assess civil penalties for violations of this Act.

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

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

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

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 5 September 2002

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 5 September 2002

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 5 September 2002

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.