Pension Accountability Act
Latest action · Mar 14, 2019 Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedMar 14, 2019
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Pension Accountability Act
This bill revises the rules for voting on the suspension of pension benefits under multiemployer plans in critical and declining status. The bill changes the voting procedure for suspending plan benefits to provide that a suspension shall go into effect unless a majority of plan participants and beneficiaries who cast a vote (currently, a majority of all plan participants and beneficiaries) reject the suspension.
The bill also eliminates the authority of the Department of the Treasury, in the case of systemically important plans, to override a vote of plan participants to reject a suspension. A plan is systemically important if projected financial assistance to the plan will exceed $1 billion if suspensions are not implemented.
Cosponsors 6
Members who signed on, in the order they did. Signatures ran from Mar 14, 2019 to Jun 12, 2019, with 2 there on the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-NE | Deb Fischer | Original | Mar 14, 2019 |
| D-OH | Sherrod Brown | Original | Mar 14, 2019 |
| R-TN | Marsha Blackburn | May 6, 2019 | |
| R-NC | Richard Burr | May 21, 2019 | |
| D-AL | Doug Jones | Jun 3, 2019 | |
| R-KS | Jerry Moran | Jun 12, 2019 |
Actions 2
Everything that happened, newest first.
- Mar 14, 2019Introduced in Senate
- Mar 14, 2019Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Subjects
Assigned by the Library of Congress. Policy area: Labor and Employment.
Text 1
Each version as it was printed, newest first.
- Mar 14, 2019Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.