US Congress House Bill 5981 (Prior Session Legislation)

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Spectrum: Bipartisan Bill
Status: Introduced on June 20 2012 - 25% progression, died in committee
Action: 2012-09-26 - Referred to the Subcommittee on Health, Employment, Labor, and Pensions.
Pending: House Subcommittee on Health, Employment, Labor, and Pensions Committee
Text: Latest bill text (Introduced) [PDF]

Amends the Employee Retirement Income Security Act of 1974 (ERISA) to declare that a qualified preretirement survivor annuity with respect to a participant under a multiemployer plan which becomes insolvent or is terminated shall not be treated as forfeitable solely because the participant has not died as of the date on which the plan became so insolvent or the termination date. (Thus guarantees, in the absence of other disqualifying factors, the payment by the Pension Benefit Guaranty Corporation [PBGC] of a qualified preretirement survivor annuity to a participant of a multiemployer pension plan which becomes insolvent or is terminated.)

To amend title IV of the Employee Retirement Income Security Act of 1974 to provide for a guarantee by the Pension Benefit Guaranty Corporation for qualified preretirement survivor annuities under insolvent or terminated multiemployer pension plans.

Rep. Thomas Petri [R-WI]

Rep. Robert Andrews [D-NJ]

Date	Chamber	Action
2012-09-26	House	Referred to the Subcommittee on Health, Employment, Labor, and Pensions.
2012-06-20	House	Referred to the House Committee on Education and the Workforce.
2012-06-20	House	Sponsor introductory remarks on measure. (CR E1093)

Type	Source
Summary	https://www.congress.gov/bill/112th-congress/house-bill/5981/all-info
Text	https://www.congress.gov/112/bills/hr5981/BILLS-112hr5981ih.pdf