3.0.0 1969 2019-11-15T21:02:56Z 2019-11-15T21:02:56Z House H HR 2011-05-24 112 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Ms. JENKINS:H.R. 1969.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8:The Congress shall have the power to lay and collect Taxes,Duties, Imposts and Excises, to pay the Debts and provide forthe Common Defence and general Welfare of the United States.[Page H3410]]]> hsed00 Education and the Workforce Committee House Standing hsed02 Health, Employment, Labor, and Pensions Subcommittee Referred to 2011-09-08T16:59:04Z Referred to 2011-05-24T14:04:00Z hswm00 Ways and Means Committee House Standing Referred to 2011-05-24T14:04:05Z 2011-09-08 hsed02 Health, Employment, Labor, and Pensions Subcommittee 1 House committee actions Referred to the Subcommittee on Health, Employment, Labor, and Pensions. Committee 2011-05-24 Referred to the Committee on Education and the Workforce, 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 2011-05-24 Referred to the Committee on Education and the Workforce, 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 2011-05-24 Introduced in House IntroReferral Intro-H 9 Library of Congress 2011-05-24 Introduced in House IntroReferral 1000 9 Library of Congress J000290 Rep. Jenkins, Lynn [R-KS-2] Lynn Jenkins R KS 2 N C001061 Rep. Cleaver, Emanuel [D-MO-5] Emanuel Cleaver D MO 5 2011-05-24 True Y000063 Rep. Yoder, Kevin [R-KS-3] Kevin Yoder R KS 3 2011-05-24 True G000546 Rep. Graves, Sam [R-MO-6] SAM GRAVES R MO 6 2011-05-31 False L000287 Rep. Lewis, John [D-GA-5] JOHN LEWIS D GA 5 2011-07-06 False P000602 Rep. Pompeo, Mike [R-KS-4] Mike Pompeo R KS 4 2011-07-29 False Labor and Employment Corporate finance and management Employee benefits and pensions Labor-management relations Labor and Employment 00 2011-05-24 Introduced in House 2011-09-06T15:42:58Z Amends the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code to authorize the Pension Benefit Guaranty Corporation (PBGC), provided certain conditions are met, to allow the sponsor of an underfunded multiemployer benefit plan to accept from an employer a ratified collective bargaining agreement that provides for a reduction in plan employer contributions as well as appropriate reduction in the level of future benefit accruals for plan participants for up to five years during the plan funding adoption period, funding improvement period, rehabilitation adoption period, and rehabilitation period.

Conditions such an allowance upon the PBGC's determination that: (1) the contributing employer will be unable to pay its debts when due and to continue business without a reduction in its contribution rates; (2) the contributing employer's aggregate withdrawal liability with respect to all multiemployer pension plans exceeds $750 million (or an appropriate lower amount as the PBGC may determine); (3) the collectability of the withdrawal liability is very doubtful if the contributing employer were to withdraw from the plan; (4) the reduced contributions are not reasonably expected to have an adverse effect on the PBGC deficit; and (5) other creditors, stakeholders, and parties to which the contributing employer is obligated have accepted comparable reductions.

]]> To provide for private-sector solutions to certain pension funding challenges, and for other purposes. Display Title To provide for private-sector solutions to certain pension funding challenges, and for other purposes. Official Title as Introduced To provide for private-sector solutions to certain pension funding challenges, and for other purposes. Introduced in House 2011-05-24T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112hr1969ih/xml/BILLS-112hr1969ih.xml 2011-09-08 Referred to the Subcommittee on Health, Employment, Labor, and Pensions. 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.