Pension and Budget Integrity Act of 2016
This bill prohibits provisions that increase or extend an increase of Pension Benefit Guaranty Corporation (PBGC) premiums from being counted as an offset to determine budget points of order for legislation in the House or the Senate.
(The PBGC is a federal agency that insures the benefits of private sector, defined benefit pension plans. The PBGC is financed by insurance premiums paid by sponsors of the plans, investment income, assets from pension plans taken over by the PBGC, and recoveries from the companies formerly responsible for the plans. This bill prevents increases in PBGC premiums from being used to pay for provisions that increase the deficit in determining whether a budget point of order applies to legislation.)