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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.

USA115th CongressHR-2117| House 
| Updated: 4/25/2017
Pete Sessions

Pete Sessions

Republican Representative

Texas

Cosponsors (1)
Bill Pascrell (Democratic)

Education and Workforce Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Multi-Employer Pension Plan Partnership Act of 2017 This bill amends the Employee Retirement Income Security Act of 1974 (ERISA) to permit multiemployer pension plans that are in critical status and not expected to emerge from the status by the end of the rehabilitation period to adopt rules to forestall or avoid insolvency by revising the plan's terms and conditions for computing an employer's withdrawal liability. Any such rule becomes 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). A corporation may disapprove a rule only if the rule creates an unreasonable risk of loss to plan participants and beneficiaries or to the corporation.
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Timeline
Apr 25, 2017
Introduced in House
Apr 25, 2017
Referred to the House Committee on Education and the Workforce.
  • April 25, 2017
    Introduced in House


  • April 25, 2017
    Referred to the House Committee on Education and the Workforce.

Labor and Employment

Corporate finance and managementEmployee benefits and pensions

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.

USA115th CongressHR-2117| House 
| Updated: 4/25/2017
Multi-Employer Pension Plan Partnership Act of 2017 This bill amends the Employee Retirement Income Security Act of 1974 (ERISA) to permit multiemployer pension plans that are in critical status and not expected to emerge from the status by the end of the rehabilitation period to adopt rules to forestall or avoid insolvency by revising the plan's terms and conditions for computing an employer's withdrawal liability. Any such rule becomes 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). A corporation may disapprove a rule only if the rule creates an unreasonable risk of loss to plan participants and beneficiaries or to the corporation.
View Full Text

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Timeline
Apr 25, 2017
Introduced in House
Apr 25, 2017
Referred to the House Committee on Education and the Workforce.
  • April 25, 2017
    Introduced in House


  • April 25, 2017
    Referred to the House Committee on Education and the Workforce.
Pete Sessions

Pete Sessions

Republican Representative

Texas

Cosponsors (1)
Bill Pascrell (Democratic)

Education and Workforce Committee

Labor and Employment

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Corporate finance and managementEmployee benefits and pensions