Senate Bill 5045
116th Congress(2019-2020)
Chris Allen Multiemployer Pension Recapitalization and Reform Act of 2020
Introduced
Introduced in Senate on Dec 17, 2020
Origin Chamber
Senate
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
5045
Congress
116
Policy Area
Labor and Employment
Labor and Employment
Primary focus of measure is matters affecting hiring and composition of the workforce, wages and benefits, labor-management relations; occupational safety, personnel management, unemployment compensation. Measures concerning public-sector employment may fall under Government Operations and Politics policy area.
No Senate votes have been held for this bill.
Summary
Chris Allen Multiemployer Pension Recapitalization and Reform Act of 2020
This bill makes various changes with respect to the administration of multiemployer pension plans. Among other provisions, the bill allows qualified plans to apply for special partition assistance from the Pension Benefit Guaranty Corporation, revises the criteria for plans that are in endangered or critical status, and establishes rules for new composite plans that have certain attributes of both defined benefit and defined contribution plans.
December 17, 2020
12/17/2020
Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S7592-7593; text: CR S7593-7634)
12/17/2020
Introduced in Senate
Public Record
Record Updated
Jan 11, 2023 1:43:47 PM