H.R.2117 - Multi-Employer Pension Plan Partnership Act of 2017115th Congress (2017-2018)
|Sponsor:||Rep. Sessions, Pete [R-TX-32] (Introduced 04/25/2017)|
|Committees:||House - Education and the Workforce|
|Latest Action:||House - 04/25/2017 Referred to the House Committee on Education and the Workforce. (All Actions)|
This bill has the status Introduced
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Summary: H.R.2117 — 115th Congress (2017-2018)All Information (Except Text)
Introduced in House (04/25/2017)
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.