US Congress Senate Bill 3544 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 3-0)
Status: Introduced on September 13 2012 - 25% progression, died in committee
Action: 2012-09-13 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Pending: Senate Banking, Housing, And Urban Affairs Committee
Text: Latest bill text (Introduced) [PDF]

Delphi Pensions Restoration Act of 2012 - Amends the Emergency Economic Stabilization Act of 2008 to require transfer to the Delphi Retired Employees Fund of all proceeds from the sale or transfer, after enactment of this Act, of any stock, warrant, or financial instrument acquired by the Secretary of the Treasury in connection with providing financial assistance to the General Motors Corporation (GM). Establishes the Delphi Retired Employees Fund in the Treasury for payments to eligible employees separated from Delphi Corporation who participated in a now terminated Delphi-sponsored defined benefit plan, but who are not covered by any agreement between GM and participants in another defined benefit plan under which GM pays covered participants nonforfeitable benefits equal to the amount they would have been entitled to receive under the plan but for the plan's termination. Makes the Fund available to pay each eligible separated employee an amount equal to such nonforfeitable benefits, reduced by any amounts already paid the employee by the Pension Benefit Guaranty Corporation (PBGC) under the Employee Retirement Security Act of 1974 (ERISA).

Delphi Pensions Restoration Act of 2012

Sen. Sherrod Brown [D-OH]

Sen. Charles Schumer [D-NY]

Sen. Debbie Stabenow [D-MI]

Date	Chamber	Action
2012-09-13	Senate	Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

HB6404 (Same As) 2012-09-13 - Referred to House Education and the Workforce

Type	Source
Summary	https://www.congress.gov/bill/112th-congress/senate-bill/3544/all-info
Text	https://www.congress.gov/112/bills/s3544/BILLS-112s3544is.pdf