3.0.0 4055 2023-01-13T04:49:54Z 2023-01-13T04:49:54Z House H HR 2005-10-07 109 hsju00 Judiciary Committee House Standing hsju09 Commercial and Administrative Law Subcommittee Referred to 2006-02-06T16:24:36Z Referred to 2005-10-07T13:01:30Z hsed00 Education and the Workforce Committee House Standing hsed02 Health, Employment, Labor, and Pensions Subcommittee Referred to 2005-11-17T14:27:44Z Referred to 2005-10-07T13:01:25Z 2006-02-06 hsju09 Commercial and Administrative Law Subcommittee 1 House committee actions Referred to the Subcommittee on Commercial and Administrative Law. Committee 2005-11-17 hsed02 Health, Employment, Labor, and Pensions Subcommittee 1 House committee actions Referred to the Subcommittee on Employer-Employee Relations. Committee 2005-10-07 Referred to the Committee on Education and the Workforce, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsju00 Judiciary Committee 2005-10-07 Referred to the Committee on Education and the Workforce, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100-A 9 Library of Congress 2005-10-07 Referred to the Committee on Education and the Workforce, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsed00 Education and the Workforce Committee 2005-10-07 Introduced in House IntroReferral Intro-H 9 Library of Congress 2005-10-07 Introduced in House IntroReferral 1000 9 Library of Congress V000108 Rep. Visclosky, Peter J. [D-IN-1] PETER VISCLOSKY D IN J. 1 N K000180 Rep. Kilpatrick, Carolyn C. [D-MI-13] CAROLYN KILPATRICK D MI CHEEKS 13 2005-12-16 False Labor and Employment Administrative fees Administrative procedure Administrative remedies Annuities Bankruptcy Bankruptcy courts Civil actions and liability Collection of accounts Collective bargaining Corporate reorganizations Defined benefit pension plans Department of Labor Early retirement Employee ownership Employee rights Evidence (Law) Families Fees Finance and Financial Sector Financial statements Fines (Penalties) Government Operations and Politics Government corporations Government paperwork Government publicity Information disclosure (Securities law) Injunctions Investments Labor contracts Labor unions Law Loans Old age, survivors and disability insurance Parties to actions Pension Benefit Guaranty Corporation Pension funds Pension trust guaranty insurance Real property Reinsurance Social Welfare Survivors' benefits Trusts and trustees Labor and Employment 00 2005-10-07 Introduced in House 2005-11-30T22:14:14Z Employees’ Pension Security Act of 2005 - Amends the Employee Retirement Income Security Act of 1974 (ERISA) to require assets of single-employer pension plans to be held in trust by joint boards of trustees.

Requires pension plan benefit statements to be provided periodically to plan participants (as well as, under current law, to any plan participant or beneficiary who so requests). Directs the Secretary of Labor to develop a model benefit statement to be used by plan administrators.

Requires plan sponsors and administrators to provide all material investment information in an accurate form to participants and beneficiaries. Authorizes the Secretary to assess civil penalties for violations of certain information requirements.

Sets forth additional requirements for plan termination, to prevent abuse of the bankruptcy and termination process, including requirements relating to: (1) distress termination; (2) bankruptcy court decrees, and the right to intervene to challenge them; (3) consideration of alternatives by the Pension Benefit Guaranty Corporation (PBGC) and the plan sponsor; (4) PBGC efforts at consulting on alternatives with plan participants and their union representatives; and (5) notice of the right to challenge determinations relating to plan termination.

Amends federal bankruptcy law to include, in a priority order for recovery of expenses and claims, allowed unsecured claims for benefit liabilities to participants and beneficiaries under a single-employer plan in connection with the plan termination, in excess of the benefits payable to them by the PBGC in connection with such termination.

]]> Employees' Pension Security Act of 2005 Display Title Employees' Pension Security Act of 2005 Official Title as Introduced To amend the Employee Retirement Income Security Act of 1974 and title 11, United State Code, to provide necessary reforms for employee pension benefit plans. Introduced in House IH Short Titles as Introduced Employees' Pension Security Act of 2005 Popular Titles Pension Reform bill 9 Library of Congress Introduced in House 2005-10-07T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-109hr4055ih/xml/BILLS-109hr4055ih.xml 2006-02-06 Referred to the Subcommittee on Commercial and Administrative Law. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.