3.0.0 4590 2023-01-13T04:49:24Z 2023-01-13T04:49:24Z House H HR 2005-12-16 109 hsju00 Judiciary Committee House Standing hsju09 Commercial and Administrative Law Subcommittee Referred to 2006-02-16T16:51:47Z Referred to 2005-12-16T14:00:15Z 2006-02-16 hsju09 Commercial and Administrative Law Subcommittee 1 House committee actions Referred to the Subcommittee on Commercial and Administrative Law. Committee 2005-12-16 Referred to the House Committee on the Judiciary. IntroReferral H11100 2 House floor actions hsju00 Judiciary Committee 2005-12-16 Introduced in House IntroReferral Intro-H 9 Library of Congress 2005-12-16 Introduced in House IntroReferral 1000 9 Library of Congress F000262 Rep. Ford, Harold E., Jr. [D-TN-9] HAROLD FORD D TN E. 9 N Finance and Financial Sector Bankruptcy Debtor and creditor Employee rights Labor and Employment Pension funds Securities Wages Finance and Financial Sector 00 2005-12-16 Introduced in House 2006-02-23T22:02:17Z Employee Retirement Preservation Act - Amends federal bankruptcy law to redefine "claim" to include a right or interest in equity securities of the debtor (or its affiliate) held in a pension plan for the benefit of an individual who is not an officer or director of the debtor, if such securities were attributable to: (1) employer contributions by the debtor (or an affiliate) other than elective deferrals; and (2) elective deferrals (and any earnings on them) that are required to be invested in such securities under the terms of the plan or at the direction of a person other than the individual or any beneficiary.

Makes this requirement inapplicable, however, to any such securities during a period when the individual or any beneficiary has the right to direct the plan to divest such securities and to reinvest an equivalent amount in other investment options of the plan.

Modifies the priority scheme for expenses and claims to place in fifth order of priority allowed unsecured claims concerning rights or interests in equity securities of the debtor held in a pension plan measured by the market value of the stock at the time of its contribution or purchased by the plan.

Increases from $10,000 to $13,500 the maximum amount of allowed unsecured claims for contributions to an employee benefit plan.

]]> Employee Retirement Preservation Act Display Title Employee Retirement Preservation Act Official Title as Introduced To amend title 11 of the United States Code to provide fair treatment of employee benefits. Introduced in House IH Short Titles as Introduced Employee Retirement Preservation Act Introduced in House 2005-12-16T05:00:00Z 2006-02-16 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.