US Congress House Bill 2384 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on May 4 2017 - 25% progression, died in committee
Action: 2017-06-07 - Referred to the Subcommittee on Regulatory Reform, Commercial And Antitrust Law.
Pending: House Subcommittee on Regulatory Reform, Commercial And Antitrust Law Committee
Text: Latest bill text (Introduced) [PDF]

Keeping America's Pension Promises Act This bill repeals the elimination of the pension anti-cutback provisions under the Multiemployer Pension Reform Act of 2014. The anti-cutback provisions prohibit reductions in pension benefits to participants in multiemployer pension plans. The bill amends the Employee Retirement Income Security Act of 1974 (ERISA), with respect to partitions of eligible multiemployer plans, to modify the procedures and allow plan sponsors to petition the Pension Benefit Guaranty Corporation (PBGC) for a partition of additional financially-troubled pension plans. The PBGC must establish a legacy fund to cover the administrative and benefit costs resulting from a partition. The Department of the Treasury must transfer amounts to the fund that are equal to the increase in revenues as a result of specified provisions of this bill that amend the Internal Revenue Code. The provisions amend the Internal Revenue Code to impose a .03% excise tax on certain trading transactions with respect to securities. The bill amends the federal bankruptcy code to assign first claim priority to pension obligations under ERISA.

Keeping America's Pension Promises Act

Rep. Richard Nolan [D-MN]

Date	Chamber	Action
2017-06-07	House	Referred to the Subcommittee on Regulatory Reform, Commercial And Antitrust Law.
2017-05-04	House	Referred to the Committee on Education and the Workforce, and in addition to the Committees on Ways and Means, and the Judiciary, 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.
2017-05-04	House	Referred to the Committee on Education and the Workforce, and in addition to the Committees on Ways and Means, and the Judiciary, 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.
2017-05-04	House	Referred to the Committee on Education and the Workforce, and in addition to the Committees on Ways and Means, and the Judiciary, 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.
2017-05-04	House	Referred to the Committee on Education and the Workforce, and in addition to the Committees on Ways and Means, and the Judiciary, 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.
2017-05-04	House	Introduced in House

HB2412 (Related) 2017-05-11 - Referred to the Subcommittee on Regulatory Reform, Commercial And Antitrust Law.
SB1076 (Related) 2017-05-09 - Read twice and referred to the Committee on Finance.

Type	Source
Summary	https://www.congress.gov/bill/115th-congress/house-bill/2384/all-info
Text	https://www.congress.gov/115/bills/hr2384/BILLS-115hr2384ih.pdf