Summary: H.R.3501 — 115th Congress (2017-2018)All Information (Except Text)

There is one summary for H.R.3501. Bill summaries are authored by CRS.

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Introduced in House (07/27/2017)

Family-Owned Business Multiemployer Pension Correction Act of 2017

This bill directs the Department of the Treasury to establish a program to limit the liability of retail employers who do not employ more than 100 employees who are multiemployer pension plan participants (covered small employer) for withdrawing from a multiemployer pension plan to begin making contributions to a collectively bargained plan. A covered small employer is not eligible for such benefit unless Treasury determines that the affected multiemployer plan liabilities do not exceed 1% of total plan liabilities during a specified 3-year period.