3.0.0 6143 2021-06-07T20:03:58Z 2021-06-07T20:03:58Z House H HR 2008-05-22 110 hswm00 Ways and Means Committee House Standing Referred to 2008-05-22T14:07:25Z hsed00 Education and the Workforce Committee House Standing Referred to 2008-05-22T14:07:20Z 2008-05-23 Sponsor introductory remarks on measure. (CR E1097-1098) IntroReferral B00100 9 Library of Congress 2008-05-22 Referred to the Committee on Education and Labor, and in addition to the Committee on Ways and Means, 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 hswm00 Ways and Means Committee 2008-05-22 Referred to the Committee on Education and Labor, and in addition to the Committee on Ways and Means, 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 2008-05-22 Referred to the Committee on Education and Labor, and in addition to the Committee on Ways and Means, 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 2008-05-22 Introduced in House IntroReferral Intro-H 9 Library of Congress 2008-05-22 Introduced in House IntroReferral 1000 9 Library of Congress A000210 Rep. Andrews, Robert E. [D-NJ-1] ROBERT ANDREWS D NJ E. 1 N M000725 Rep. Miller, George [D-CA-7] GEORGE MILLER D CA 7 2008-05-22 True F000339 Rep. Frank, Barney [D-MA-4] BARNEY FRANK D MA 4 2008-06-25 False T000266 Rep. Tierney, John F. [D-MA-6] JOHN TIERNEY D MA F. 6 2008-07-14 False W000793 Rep. Wu, David [D-OR-1] DAVID WU D OR 1 2008-07-14 False H001042 Rep. Hirono, Mazie K. [D-HI-2] Mazie Hirono D HI K. 2 2008-07-15 False B001242 Rep. Bishop, Timothy H. [D-NY-1] Timothy Bishop D NY H. 1 2008-09-09 False A000357 Rep. Allen, Thomas H. [D-ME-1] THOMAS ALLEN D ME H. 1 2008-09-23 False Labor and Employment Age discrimination Aircraft pilots Airline employees Annuities Associations, institutions, etc. Bankruptcy Civil Rights and Liberties, Minority Issues Civil actions and liability Collection of accounts Cooperative societies Defined benefit pension plans Early retirement Economics and Public Finance Employee health benefits Employee ownership Federally-guaranteed loans Finance and Financial Sector Health Law Pension funds Pension trust guaranty insurance Retiree health benefits Securities regulation Social Welfare Surety and fidelity Transportation and Public Works Trusts and trustees Valuation Labor and Employment 00 2008-05-22 Introduced in House 2008-09-24T21:11:01Z Pension Protection Act ERISA Amendments of 2008 - Makes technical corrections to the Pension Protection Act of 2006 and the Employee Retirement Income Security Act (ERISA) of 1974.

Repeals certain requirements governing the termination date of a defined benefit pension plan of an employee in cases of an employer filing for bankruptcy.

Requires the Pension Benefit Guaranty Corporation (PBGC), with regard to single-employer plan guaranteed benefits in the case of commercial airline pilots required by Federal Aviation Administration (FAA) regulation to retire before age 65, to compute the actuarial value of monthly benefits in the form of a life annuity commencing at the required retirement age.

Revises requirements to: (1) limit the amount a fiduciary may recover in actions against third parties (Pro-Rata Recovery) to enforce the terms of defined benefit plans on behalf of plan participants or beneficiaries; (2) prohibit the post-retirement reduction of retiree health benefits by group health plans; and (3) establish the Emergency Retiree Health Loan Guarantee Program.

Modifies requirements with respect to: (1) crediting and termination of surcharges in connection with multiemployer pension plans in critical status upon adoption of rehabilitation plan; and (2) funding rules for multiemployer pension plans.

Requires certain adjustments to determinations of the value of single-employer pension plan assets that are based on the averaging of fair market values (asset smoothing).

Prohibits certain payments of benefits from single-employer pension plans that have an adjusted funding target attainment percentage of less than 80% for the year.

Applies certain age discrimination safe harbor rules under ERISA and the Age Discrimination in Employment Act of 1967 to civil actions brought on or after April 25, 2007, alleging any age discrimination violation occurring before June 29, 2005, with respect to any benefit provided under the Young Women's Christian Association Pension Plan.

Exempts transactions involving the sale of employer securities held in a pension plan account from certain fiduciary requirements under specified conditions.

Revises requirements with respect to: (1) special funding rules for at-risk pension plans for employees offered early retirement in 2007; and (2) pension plan funding target determinations.

Treats employees of certain cooperatives as affiliated service group employees for purposes of single employer pension plans.

Revises requirements regarding: (1) parties in interest affected by the prohibited transaction exemption for block trading; and (2) the scope of the prohibited transaction exemption for electronic communication.

Increases bonding requirements for fiduciaries of pension plans primarily invested in employer securities.

]]> Pension Protection Act ERISA Amendments of 2008 Short Titles as Introduced Pension Protection Act ERISA Amendments of 2008 Display Title Pension Protection Act ERISA Amendments of 2008 Official Title as Introduced To make technical corrections to the Pension Protection Act of 2006 relating to the Employee Retirement Income Security Act of 1974, and for other purposes. Introduced in House 2008-05-22T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110hr6143ih/xml/BILLS-110hr6143ih.xml 2008-05-23 Sponsor introductory remarks on measure. (CR E1097-1098) 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.