Butch Lewis Emergency Pension Plan Relief Act of 2021

referredUnited States· United States Congress· EN

Introduced

2 March 2021

Last action

2 March 2021 · Introduced

Status

Read twice and referred to the Committee on Finance.

Sponsors

Sen. Brown, Sherrod [D-OH], Sen. Baldwin, Tammy [D-WI], Sen. Bennet, Michael F. [D-CO], Sen. Blumenthal, Richard [D-CT], Sen. Booker, Cory A. [D-NJ], Sen. Cantwell, Maria [D-WA], Sen. Casey, Robert P., Jr. [D-PA], Sen. Coons, Christopher A. [D-DE], Sen. Cortez Masto, Catherine [D-NV], Sen. Duckworth, Tammy [D-IL], Sen. Durbin, Richard J. [D-IL], Sen. Gillibrand, Kirsten E. [D-NY], Sen. Hassan, Margaret Wood [D-NH], Sen. Heinrich, Martin [D-NM], Sen. Hirono, Mazie K. [D-HI], Sen. Kaine, Tim [D-VA], Sen. King, Angus S., Jr. [I-ME], Sen. Klobuchar, Amy [D-MN], Sen. Leahy, Patrick J. [D-VT], Sen. Luján, Ben Ray [D-NM], Sen. Manchin, Joe, III [D-WV], Sen. Markey, Edward J. [D-MA], Sen. Menendez, Robert [D-NJ], Sen. Merkley, Jeff [D-OR], Sen. Murray, Patty [D-WA], Sen. Padilla, Alex [D-CA], Sen. Peters, Gary C. [D-MI], Sen. Reed, Jack [D-RI], Sen. Rosen, Jacky [D-NV], Sen. Sanders, Bernard [I-VT], Sen. Schatz, Brian [D-HI], Sen. Schumer, Charles E. [D-NY], Sen. Shaheen, Jeanne [D-NH], Sen. Smith, Tina [D-MN], Sen. Stabenow, Debbie [D-MI], Sen. Tester, Jon [D-MT], Sen. Van Hollen, Chris [D-MD], Sen. Warner, Mark R. [D-VA], Sen. Warnock, Raphael G. [D-GA], Sen. Warren, Elizabeth [D-MA], Sen. Whitehouse, Sheldon [D-RI], Sen. Wyden, Ron [D-OR], Sen. Cardin, Benjamin L. [D-MD]

Subjects

Discovery layer

Source updated

6 December 2025

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Summary

Butch Lewis Emergency Pension Plan Relief Act of 2021 This bill modifies the funding rules and provides financial assistance for certain pension plans that are underfunded or insolvent. First, the bill expands the authority of, and provides funding for, the Pension Benefit Guaranty Corporation (PBGC) to provide special partition assistance to a multiemployer pension plan that is insolvent or at risk of insolvency. The bill expands eligibility for partition assistance, provides funding for a plan to reach a projected funded ratio of 80% over a 30-year period, and does not require a plan to repay such assistance. The bill further permits a multiemployer pension plan to elect to retain its funding zone status from the previous year for either (1) the first plan year beginning during the period from March 1, 2020, through February 28, 2021; or (2) the next succeeding plan year, as designated by the plan sponsor. A plan may also extend by five years the funding improvement or rehabilitation period if the plan is designated as in endangered or critical status for a plan year beginning in 2020 or 2021. A plan in critical and declining status may not suspend payment of plan benefits. Additionally, the bill adjusts the minimum funding standards for a multiemployer pension plan to account for investment losses and other losses related to the COVID-19 pandemic and modifies the PBGC guarantee formula to increase the maximum potential benefits under a multiemployer pension plan.

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

Timeline

2 March 2021
Introduced
Read twice and referred to the Committee on Finance.
Source: IntroReferral
2 March 2021
Introduced
Introduced in Senate
Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Introduced in Senate · 2 March 2021 · Download file

Documents

3 official files

Introduced in Senate (text)

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Introduced in Senate (text)
Introduced in Senate · EN · 2 March 2021
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Introduced in Senate (PDF)
Introduced in Senate · EN · 2 March 2021
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Introduced in Senate
summary · EN · 2 March 2021
Open at official source
Leesvertaling
Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.
Vertaal naar
Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Related records

related to → Emergency Pension Plan Relief Act of 2021
related to → Emergency Pension Plan Relief Act of 2021

Sources

PoliticalRepo is an index and interpretation layer, not the authoritative legal source.

Official source: https://www.congress.gov/bill/117th-congress/senate-bill/547
Open data entity: https://api.congress.gov/v3/bill/117/s/547
us · 117-s-547 · source updated 6 December 2025