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.
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Jan 21, 2015)
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.
What just happenedApr 29, 2015
Referred to the Subcommittee on Health, Employment, Labor, and Pensions.
Who’s behind it
- Introduced in HouseJan 21, 2015
- Apr 29, 2015Committee
Referred to the Subcommittee on Health, Employment, Labor, and Pensions.
Health, Employment, Labor, and Pensions Subcommittee - Jan 21, 2015IntroReferralH11100
Referred to the House Committee on Education and the Workforce.
Education and the Workforce Committee - Jan 21, 2015IntroReferralIntro-H
Introduced in House
- Jan 21, 2015IntroReferral1000
Introduced in House