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Bill116th CongressFiled Jan 9, 2019Labor and Employment
H.R. 397

Rehabilitation for Multiemployer Pensions Act of 2019

Bill journey · stage 2 of 5

Under committee review

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What it doesSummary passed house (Jul 24, 2019)

Rehabilitation for Multiemployer Pensions Act of 2019

This bill establishes the Pension Rehabilitation Administration within the Department of the Treasury and a related trust fund to make loans to certain multiemployer defined benefit pension plans.

To receive a loan, a plan must be (1) in critical and declining status, including any plan with respect to which a suspension of benefits has been approved; (2) in critical status, have a modified funded percentage of less than 40%, and have a ratio of active to inactive participants which is less than two to five; or (3) insolvent, if the plan became insolvent after December 16, 2014, and has not been terminated.

Treasury must transfer amounts, which may include proceeds from bonds and other obligations, from the general fund to the trust fund established by this bill as necessary to fund the program. The Pension Rehabilitation Administration may use the funds, without a further appropriation, to make loans, pay principal and interest on obligations, or for administrative and operating expenses.

The bill allows the sponsor of a multiemployer pension plan that is applying for a loan under this bill to also apply to the Pension Benefit Guaranty Corporation (PBGC) for financial assistance if, after receiving the loan, the plan will still become (or remain) insolvent within the 30-year period beginning on the date of the loan.

The bill also appropriates to the PBGC the funds that are necessary to provide the financial assistance required by this bill.

The bill modifies the requirements for the distribution of remaining pension benefits from certain defined contribution plans to a designated beneficiary upon death of an employee.

The bill increases penalties for failure to file

  • a tax return, and
  • certain retirement plan returns.

What just happenedDec 19, 2019

Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 390.

Who’s behind it

Rep. Neal, Richard E. [D-MA-1](D-MA)Sponsor
209 cosponsors200 D9 R
Read on Congress.gov
209cosponsors3committees36actions2amendments3related bills8subjects
  1. Dec 19, 2019Calendars

    Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 390.

  2. Dec 18, 2019Calendars

    Read the first time. Placed on Senate Legislative Calendar under Read the First Time.

  3. Jul 25, 2019IntroReferral

    Received in the Senate.

  4. Jul 24, 2019FloorH38310

    Motion to reconsider laid on the table Agreed to without objection.

  5. Jul 24, 2019FloorH37100

    On passage Passed by recorded vote: 264 - 169 (Roll no. 505). (text: CR H7318-7323)

  6. Jul 24, 2019Floor8000

    Passed/agreed to in House: On passage Passed by recorded vote: 264 - 169 (Roll no. 505).(text: CR H7318-7323)

  7. Jul 24, 2019FloorH36110

    On motion to recommit with instructions Failed by recorded vote: 200 - 232 (Roll no. 504).

    Education and the Workforce Committee
  8. Jul 24, 2019FloorH8A000

    The previous question on the motion to recommit with instructions was ordered without objection.

  9. Jul 24, 2019FloorH8D000

    Floor summary: DEBATE - The House proceeded with 10 minutes of debate on the Mast motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment to insert a new clause in section 4(b)(1)(c) of the bill stating that pension plans will not knowingly engage in a commerce-related or investment-related boycott, divestment, or sanctions activity intended to undermine the existence of, penalize, inflict economic harm on, or otherwise limit commercial relations with Israel.

  10. Jul 24, 2019FloorH36100

    Mr. Mast moved to recommit with instructions to the Committee on Education and Labor. (text: CR H7346)

    Education and the Workforce Committee
  11. Jul 24, 2019FloorH8D000

    UNFINISHED BUSINESS - The Chair announced that the unfinished business was the question on adoption of the amendment offered by Mr. Roe (TN), which had been debated earlier and on which further proceedings had been postponed.

  12. Jul 24, 2019FloorH30000

    Considered as unfinished business. (consideration: CR H7345, H7347-7348)

  13. Jul 24, 2019FloorH8D000

    POSTPONED PROCEEDINGS - At the conclusion of debate on the Roe amendment, the Chair put the question on the amendment and by voice vote, announced that the ayes had prevailed. Mr. Scotts (VA) demanded a recorded vote and the Chair postponed further proceedings on agreeing to the amendment until a time to be announced.

  14. Jul 24, 2019FloorH35000

    The previous question was ordered pursuant to the rule.

  15. Jul 24, 2019FloorH8D000

    DEBATE - Pursuant to the provisions of H. Res. 509, the House proceeded with 10 minutes of debate on the David P. Roe amendment No. 1.

  16. Jul 24, 2019FloorH8D000

    DEBATE - The House proceeded with one hour of debate on H.R. 397.

  17. Jul 24, 2019FloorH8D000

    Rule provides for consideration of H.R. 397 and H.R. 3239. Resolution provides for consideration of both H.R. 397 and H.R. 3239 under structured rules. Resolution also provides that it shall be in order on the legislative day of July 25, 2019 or July 26, 2019 that the House suspend the rules. Resolution additionally provides for proceedings from the period from July 29, 2019 through September 6, 2019.

  18. Jul 24, 2019FloorH30000

    Considered under the provisions of rule H. Res. 509. (consideration: CR H7318-7335)

  19. Jul 23, 2019FloorH1L210

    Rules Committee Resolution H. Res. 509 Reported to House. Rule provides for consideration of H.R. 397 and H.R. 3239. Resolution provides for consideration of both H.R. 397 and H.R. 3239 under structured rules. Resolution also provides that it shall be in order on the legislative day of July 25, 2019 or July 26, 2019 that the House suspend the rules. Resolution additionally provides for proceedings from the period from July 29, 2019 through September 6, 2019.

  20. Jul 19, 2019CalendarsH12410

    Placed on the Union Calendar, Calendar No. 123.

  21. Jul 19, 2019DischargeH12300

    Committee on Appropriations discharged.

    Appropriations Committee
  22. Jul 19, 2019Committee5500

    Committee on Appropriations discharged.

    Appropriations Committee
  23. Jul 19, 2019CommitteeH12200

    Reported (Amended) by the Committee on Education and Labor. H. Rept. 116-159, Part II.

    Education and the Workforce Committee
  24. Jul 19, 2019Committee5000

    Reported (Amended) by the Committee on Education and Labor. H. Rept. 116-159, Part II.

    Education and the Workforce Committee
  25. Jul 18, 2019CommitteeH12200

    Reported (Amended) by the Committee on Ways and Means. H. Rept. 116-159, Part I.

    Ways and Means Committee
  26. Jul 18, 2019Committee5000

    Reported (Amended) by the Committee on Ways and Means. H. Rept. 116-159, Part I.

    Ways and Means Committee
  27. Jul 10, 2019Committee

    Ordered to be Reported in the Nature of a Substitute by the Yeas and Nays: 25 - 17.

    Ways and Means Committee
  28. Jul 10, 2019Committee

    Committee Consideration and Mark-up Session Held.

    Ways and Means Committee
  29. Jun 11, 2019Committee

    Ordered to be Reported (Amended) by the Yeas and Nays: 26 - 18.

    Education and the Workforce Committee
  30. Jun 11, 2019Committee

    Committee Consideration and Mark-up Session Held.

    Education and the Workforce Committee
  31. Mar 1, 2019Committee

    Referred to the Subcommittee on Worker and Family Support.

    Work and Welfare Subcommittee
  32. Jan 9, 2019IntroReferralH11100

    Referred to the Committee on Education and Labor, and in addition to the Committees on Ways and Means, and Appropriations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

    Appropriations Committee
  33. Jan 9, 2019IntroReferralH11100

    Referred to the Committee on Education and Labor, and in addition to the Committees on Ways and Means, and Appropriations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

    Ways and Means Committee
  34. Jan 9, 2019IntroReferralH11100

    Referred to the Committee on Education and Labor, and in addition to the Committees on Ways and Means, and Appropriations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

    Education and the Workforce Committee
  35. Jan 9, 2019IntroReferralIntro-H

    Introduced in House

  36. Jan 9, 2019IntroReferral1000

    Introduced in House

Passed HouseJul 24, 201953

Rehabilitation for Multiemployer Pensions Act of 2019

This bill establishes the Pension Rehabilitation Administration within the Department of the Treasury and a related trust fund to make loans to certain multiemployer defined benefit pension plans.

To receive a loan, a plan must be (1) in critical and declining status, including any plan with respect to which a suspension of benefits has been approved; (2) in critical status, have a modified funded percentage of less than 40%, and have a ratio of active to inactive participants which is less than two to five; or (3) insolvent, if the plan became insolvent after December 16, 2014, and has not been terminated.

Treasury must transfer amounts, which may include proceeds from bonds and other obligations, from the general fund to the trust fund established by this bill as necessary to fund the program. The Pension Rehabilitation Administration may use the funds, without a further appropriation, to make loans, pay principal and interest on obligations, or for administrative and operating expenses.

The bill allows the sponsor of a multiemployer pension plan that is applying for a loan under this bill to also apply to the Pension Benefit Guaranty Corporation (PBGC) for financial assistance if, after receiving the loan, the plan will still become (or remain) insolvent within the 30-year period beginning on the date of the loan.

The bill also appropriates to the PBGC the funds that are necessary to provide the financial assistance required by this bill.

The bill modifies the requirements for the distribution of remaining pension benefits from certain defined contribution plans to a designated beneficiary upon death of an employee.

The bill increases penalties for failure to file

  • a tax return, and
  • certain retirement plan returns.
Reported to House, Part IIJul 19, 20199

Rehabilitation for Multiemployer Pensions Act of 2019

This bill establishes the Pension Rehabilitation Administration within the Department of the Treasury and a related trust fund to make loans to certain multiemployer defined benefit pension plans.

To receive a loan, a plan must be (1) in critical and declining status, including any plan with respect to which a suspension of benefits has been approved; (2) in critical status, have a funded percentage of less than 40%, and have a ratio of active to inactive participants which is less than two to three; or (3) insolvent, if the plan became insolvent after December 16, 2014, and has not been terminated.

Treasury must transfer amounts, which may include proceeds from bonds and other obligations, from the general fund to the trust fund established by this bill as necessary to fund the program. The Pension Rehabilitation Administration may use the funds, without a further appropriation, to make loans, pay principal and interest on obligations, or for administrative and operating expenses.

The bill allows the sponsor of a multiemployer pension plan that is applying for a loan under this bill to also apply to the Pension Benefit Guaranty Corporation (PBGC) for financial assistance if, after receiving the loan, the plan will still become (or remain) insolvent within the 30-year period beginning on the date of the loan.

The bill also appropriates to the PBGC the funds that are necessary to provide the financial assistance required by this bill.

Reported to House, Part IJul 18, 20198

Rehabilitation for Multiemployer Pensions Act of 2019

This bill establishes the Pension Rehabilitation Administration within the Department of the Treasury and a related trust fund to make loans to certain multiemployer defined benefit pension plans.

To receive a loan, a plan must be (1) in critical and declining status, including any plan with respect to which a suspension of benefits has been approved; (2) in critical status, have a modified funded percentage of less than 40%, and have a ratio of active to inactive participants which is less than two to five; or (3) insolvent, if the plan became insolvent after December 16, 2014, and has not been terminated.

Treasury must transfer amounts, which may include proceeds from bonds and other obligations, from the general fund to the trust fund established by this bill as necessary to fund the program. The Pension Rehabilitation Administration may use the funds, without a further appropriation, to make loans, pay principal and interest on obligations, or for administrative and operating expenses.

The bill allows the sponsor of a multiemployer pension plan that is applying for a loan under this bill to also apply to the Pension Benefit Guaranty Corporation (PBGC) for financial assistance if, after receiving the loan, the plan will still become (or remain) insolvent within the 30-year period beginning on the date of the loan.

The bill also appropriates to the PBGC the funds that are necessary to provide the financial assistance required by this bill.

Introduced in HouseJan 9, 2019

Rehabilitation for Multiemployer Pensions Act

This bill establishes the Pension Rehabilitation Administration within the Department of the Treasury and a related trust fund to make loans to certain multiemployer defined benefit pension plans.

To receive a loan, a plan must be either in critical and declining status (including any plan with respect to which a suspension of benefits has been approved) or insolvent, if the plan became insolvent after December 16, 2014, and has not been terminated.

Treasury must issue bonds to fund the loan program and transfer amounts equal to the proceeds to the trust fund established by this bill. The Pension Rehabilitation Administration may use the funds, without a further appropriation, to make loans, pay principal and interest on the bonds, or for administrative and operating expenses.

The bill allows the sponsor of a multiemployer pension plan that is applying for a loan under this bill to also apply to the Pension Benefit Guaranty Corporation (PBGC) for financial assistance if, after receiving the loan, the plan will still become (or remain) insolvent within the 30-year period beginning on the date of the loan.

The bill also appropriates to the PBGC the funds that are necessary to provide the financial assistance required by this bill.

Rehabilitation for Multiemployer Pensions Act of 2019 — Informed