3.0.0 458 2023-01-11T13:29:03Z 2023-01-11T13:29:03Z House HR 2015-01-21 114 [Congressional Record Volume 161, Number 10 (Wednesday, January 21, 2015)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. SESSIONS:H.R. 458.Congress has the power to enact this legislation pursuantto the following:Article 1, section 8, clause 3 of the United StatesConstitution (relating to Congress' power to regulatecommerce . . . among the several states . . .). The UnitedStates Congress initially enacted ERISA under the CommerceClause in order to stabilize employee pension plans thatemployees carry with them across state lines. This billmodifies ERISA and is thus a regulation of commerce--specifically pension plans--among more than one state.[Page H482]]]> hsed00 Education and the Workforce Committee House Standing hsed02 Health, Employment, Labor, and Pensions Subcommittee Referred to 2015-04-29T14:41:18Z Referred to 2015-01-21T15:04:20Z 2015-04-29 hsed02 Health, Employment, Labor, and Pensions Subcommittee 1 House committee actions Referred to the Subcommittee on Health, Employment, Labor, and Pensions. Committee 2015-01-21 Referred to the House Committee on Education and the Workforce. IntroReferral H11100 2 House floor actions hsed00 Education and the Workforce Committee 2015-01-21 Introduced in House IntroReferral Intro-H 9 Library of Congress 2015-01-21 Introduced in House IntroReferral 1000 9 Library of Congress S000250 Rep. Sessions, Pete [R-TX-32] PETE SESSIONS R TX 32 N P000096 Rep. Pascrell, Bill, Jr. [D-NJ-9] WILLIAM PASCRELL D NJ J. 9 2015-01-21 True Labor and Employment Corporate finance and management Employee benefits and pensions Labor and Employment 00 2015-01-21 Introduced in House 2015-01-29T21:58:32Z Amends the Employee Retirement Income Security Act (ERISA) to revise requirements permitting multiemployer plans to adopt alternative rules for computing the payment of an employer's withdrawal liability to include a plan in critical status whose plan sponsor determines it cannot be expected to emerge from that status by the end of the rehabilitation period.

Requires any such rule to become effective 90 days after adoption unless the corporation disapproves it before the end of the 90-day period (subject to tolling while a request by the corporation for additional information is pending).

Authorizes a corporation to disapprove a rule only if it creates an unreasonable risk of loss to plan participants and beneficiaries or to the corporation.

]]> To amend the Employee Retirement Income Security Act of 1974 to permit multiemployer plans in critical status to modify plan rules relating to withdrawal liability, and for other purposes. Display Title To amend the Employee Retirement Income Security Act of 1974 to permit multiemployer plans in critical status to modify plan rules relating to withdrawal liability, and for other purposes. Official Title as Introduced To amend the Employee Retirement Income Security Act of 1974 to permit multiemployer plans in critical status to modify plan rules relating to withdrawal liability, and for other purposes. Introduced in House IH Introduced in House 2015-01-21T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114hr458ih/xml/BILLS-114hr458ih.xml 2015-04-29 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.