3.0.0 4281 2023-01-11T13:16:58Z 2023-01-11T13:16:58Z House H HR 2009-12-10 111 hsju00 Judiciary Committee House Standing hsju09 Commercial and Administrative Law Subcommittee Referred to 2010-03-01T17:20:25Z Referred to 2009-12-10T15:01:45Z hsed00 Education and the Workforce Committee House Standing hsed02 Health, Employment, Labor, and Pensions Subcommittee Referred to 2010-01-04T22:11:25Z Referred to 2009-12-10T15:01:44Z 2010-03-01 hsju09 Commercial and Administrative Law Subcommittee 1 House committee actions Referred to the Subcommittee on Commercial and Administrative Law. Committee 2010-01-04 hsed02 Health, Employment, Labor, and Pensions Subcommittee 1 House committee actions Referred to the Subcommittee on Health, Employment, Labor, and Pensions. Committee 2009-12-10 Referred to House Judiciary IntroReferral H11100 2 House floor actions hsju00 Judiciary Committee 2009-12-10 Referred to the Committee on Education and Labor, 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 2009-12-10 Referred to House Education and Labor IntroReferral H11100 2 House floor actions hsed00 Education and the Workforce Committee 2009-12-10 Introduced in House IntroReferral Intro-H 9 Library of Congress 2009-12-10 Introduced in House IntroReferral 1000 9 Library of Congress V000108 Rep. Visclosky, Peter J. [D-IN-1] PETER VISCLOSKY D IN J. 1 N Labor and Employment Administrative remedies Bankruptcy Civil actions and liability Employee benefits and pensions Employment discrimination and employee rights Financial services and investments Government information and archives Labor-management relations Pension Benefit Guaranty Corporation Labor and Employment 00 2009-12-10 Introduced in House 2010-04-15T21:24:48Z Employees’ Pension Security Act of 2009 - 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 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 2009 Display Title Employees' Pension Security Act of 2009 Official Title as Introduced To amend the Employee Retirement Income Security Act of 1974 and title 11, United States Code, to provide necessary reforms for employee pension benefit plans. Introduced in House IH Short Titles as Introduced Employees' Pension Security Act of 2009 Introduced in House 2009-12-10T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111hr4281ih/xml/BILLS-111hr4281ih.xml 2010-03-01 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.