Retiree Benefits Bankruptcy Protection Act of 1988

Summary

Retiree Benefit Protection Act of 1987 - Amends Federal bankruptcy provisions to provide a definition of retiree benefits covered by provisions relating to reorganization plans. Defines "retiree benefits" as benefits provided to retirees or their dependents (by insurance or otherwise) for medical, surgical, or hospital care; benefits provided in the event of sickness, accident, or disability; or a benefit (having no cash-value during life and not to exceed $50,000) payable in the event of death. Authorizes the allowance of administrative expenses for committees serving as the authorized representatives of retirees in a reorganization case. Amends provisions relating to the priority of expenses and claims in a bankruptcy proceeding that provide that retiree benefits will be given fifth priority to the extent that the aggregate amount represents $1,500 for each former employee entitled to such benefits. Makes technical and conforming amendments regarding collective bargaining agreements. Requires a trustee in a reorganization case to pay any retiree benefit to the extent such retiree benefit may be paid without impairing any secured claim. Sets forth the procedures a trustee must follow and the standards that must be satisfied in order for the trustee to modify or terminate retiree benefits. Provides that the bankruptcy court must approve any such modification or termination of retiree benefits. Permits the placement of retiree benefit claims in one or more separate classes in the plan of reorganization. Provides that a reorganization plan must provide for the aggregate treatment of retiree benefit claims rather than specify treatment on an individual basis. Specifies that a reorganization plan shall be approved by a class of claims for retiree benefits if approved by at least two-thirds of the number of the allowed claims of such class. Provides that in cases where claims for retiree benefits are not placed in a separate class, then for approval purposes the amount of each allowed claim for a retiree benefit in a class shall be considered to be a pro rata share of the aggregate amount of all allowed claims for retiree benefits in such class. Provides that any payments made for retiree benefits prior to confirmation of a reorganization plan shall be credited against the amount to be provided for retiree benefits under the plan. Provides that in judicial districts where a U.S. Trustee has not yet been appointed, the bankruptcy court shall perform the functions of a trustee.

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

Timeline

1. 20 July 1987

   Introduced

   Referred to House Committee on The Judiciary.

   Source: IntroReferral

2. 20 July 1987

   Introduced

   Introduced in House

   Source: IntroReferral

3. 20 July 1987

   Introduced

   Introduced in House

   Source: IntroReferral

4. 28 July 1987

   Referred

   Referred to Subcommittee on Monopolies and Commercial Law.

   Source: Committee

5. 10 September 1987

   Committee

   Subcommittee Hearings Held.

   Source: Committee

6. 13 October 1987

   Introduced

   Received in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 376.

   Source: Calendars

7. 13 October 1987

   Passed

   Passed/agreed to in House: Passed House (Amended) by Voice Vote.

   Source: Floor

8. 13 October 1987

   Passed

   Passed House (Amended) by Voice Vote.

   Source: Floor

9. 13 October 1987

   Floor

   Called up by House Under Suspension of Rules.

   Source: Floor

10. 30 October 1987

    Floor

    Measure laid before Senate by unanimous consent.

    Source: Floor

11. 30 October 1987

    Passed

    Passed/agreed to in Senate: Passed Senate with an amendment by Voice Vote.

    Source: Floor

12. 3 November 1987

    Floor

    Message on Senate action sent to the House.

    Source: Floor

13. 23 May 1988

    ResolvingDifferences

    House Concurred, in Senate Amendments , with Amendments by Voice Vote.

    Source: ResolvingDifferences

14. 23 May 1988

    NotUsed

    Resolving differences -- House actions: House Concurred, in Senate Amendments , with Amendments by Voice Vote.

    Source: NotUsed

15. 24 May 1988

    Floor

    Message on House action received in Senate and held at desk: House amendment to Senate amendment.

    Source: Floor

16. 26 May 1988

    Passed

    Senate agreed to the House amendment to the Senate amendment by Voice Vote.

    Source: ResolvingDifferences

17. 26 May 1988

    Passed

    Resolving differences -- Senate actions: Senate agreed to the House amendment to the Senate amendment by Voice Vote.

    Source: NotUsed

18. 1 June 1988

    Floor

    Message on Senate action sent to the House.

    Source: Floor

19. 6 June 1988

    Floor

    Measure Signed in Senate.

    Source: Floor

20. 7 June 1988

    Floor

    Presented to President.

    Source: Floor

21. 7 June 1988

    President

    Presented to President.

    Source: President

22. 16 June 1988

    President

    Signed by President.

    Source: President

23. 16 June 1988

    Became law

    Became Public Law No: 100-334.

    Source: President

24. 16 June 1988

    Became law

    Signed by President.

    Source: BecameLaw

Votes

No vote records are attached yet.

Versions

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

Documents

5 official files

• Public Law (PDF)

  Public Law · EN · 17 June 1988

  ViewDownloadOpen at official source

• House agreed to Senate amendment with amendment

  summary · EN · 23 May 1988

  Open at official source

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• Passed Senate amended

  summary · EN · 30 October 1987

  Open at official source

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  Vertaal document

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• Passed House amended

  summary · EN · 13 October 1987

  Open at official source

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  Vertaal document

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• Introduced in House

  summary · EN · 20 July 1987

  Open at official source

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  Vertaal document

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Sponsors

• Rep. Rodino, Peter W., Jr. [D-NJ-10] · D · Sponsor
• Rep. Edwards, Don [D-CA-10] · D · Sponsor
• Rep. Smith, Lawrence [D-FL-16] · D · Sponsor
• Rep. Kolter, Joseph P. [D-PA-4] · D · Sponsor
• Rep. Frank, Barney [D-MA-4] · D · Sponsor
• Rep. Hayes, Charles A. [D-IL-1] · D · Sponsor
• Rep. Biaggi, Mario [D-NY-19] · D · Sponsor
• Rep. Olin, James R. [D-VA-6] · D · Sponsor
• Rep. Conyers, John, Jr. [D-MI-13] · D · Sponsor
• Rep. English, Glenn [D-OK-6] · D · Sponsor
• Rep. Howard, James J. [D-NJ-3] · D · Sponsor
• Rep. Byron, Beverly B. [D-MD-6] · D · Sponsor
• Rep. Ackerman, Gary L. [D-NY-5] · D · Sponsor
• Rep. Lantos, Tom [D-CA-12] · D · Cosponsor
• Rep. Brown, George E., Jr. [D-CA-42] · D · Cosponsor
• Rep. Levin, Sander M. [D-MI-12] · D · Cosponsor
• Rep. Lewis, John [D-GA-5] · D · Cosponsor
• Rep. Wilson, Charles [D-TX-2] · D · Cosponsor
• Rep. Owens, Major R. [D-NY-11] · D · Cosponsor
• Rep. LaFalce, John J. [D-NY-29] · D · Cosponsor
• Rep. Regula, Ralph [R-OH-16] · R · Cosponsor
• Rep. Davis, Jack [R-IL-4] · R · Cosponsor
• Rep. Fascell, Dante B. [D-FL-19] · D · Cosponsor
• Rep. McCloskey, Frank [D-IN-8] · D · Cosponsor
• Rep. Hughes, William J. [D-NJ-2] · D · Cosponsor
• Rep. Vento, Bruce F. [D-MN-4] · D · Cosponsor
• Rep. Dwyer, Bernard J. [D-NJ-6] · D · Cosponsor
• Rep. Kastenmeier, Robert W. [D-WI-2] · D · Cosponsor
• Rep. Evans, Lane [D-IL-17] · D · Cosponsor
• Rep. Roe, Robert A. [D-NJ-8] · D · Cosponsor
• Rep. Atkins, Chester G. [D-MA-5] · D · Cosponsor
• Rep. Kaptur, Marcy [D-OH-9] · D · Cosponsor
• Rep. Eckart, Dennis E. [D-OH-11] · D · Cosponsor
• Rep. Moody, Jim [D-WI-5] · D · Cosponsor
• Rep. Crockett, George W., Jr. [D-MI-13] · D · Cosponsor
• Rep. Foglietta, Thomas M. [D-PA-1] · D · Cosponsor
• Rep. Nowak, Henry [D-NY-33] · D · Cosponsor
• · hsju00 · Standing

Related records

• related to → A bill to amend title 11 of the United States Code to clarify the current meaning of section 1113 relating to the rejection of collective bargaining agreements by debtors in bankruptcy.
• related to → A bill to amend title 11 of the United States Code to give priority to certain unsecured claims of retired former employees of the debtor, and for other purposes.
• related to → Retiree Benefits Security Act of 1987
• related to → PBGC Bankruptcy Priority Improvement Act of 1987
• related to ← A bill to amend the Employee Retirement Income Security Act of 1974 with respect to the treatment of certain terminated plans.
• related to ← Student Loan Bankruptcy Prevention Act
• amends ← To insert the text of S. 548, and for other purposes.

Related across the Repo ecosystem

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