Waiver of sovereign immunity and extension of otherwise applicable statute of limitations for certain actions under the USEC Privatization Act

Section 3110(a)(7) of the USEC Privatization Act (42 U.S.C. 2297h–8(a)(7)) is amended by adding at the end the following new subparagraph:

(D)(i)Any individual who, as of immediately before any transfer of plan assets and liabilities as required by paragraph (2) to a pension plan sponsored by the private corporation referred to in paragraph (2) which occurred on or before December 31, 2000, was an active or retired participant (or a beneficiary) under a pension plan maintained by an operating contractor of a gaseous diffusion plant referred to in paragraph (1) and who is an active or retired participant (or a beneficiary) under the pension plan to which such transfer was made may bring an action in any district court of the United States having jurisdiction over the parties, without regard to the amount in controversy or the citizenship of the parties, against the Department of Energy for relief described in clause (ii) from any grievance in connection with such a transfer. (ii)For purposes of clause (i), relief is a one-time lump sum payment, payable to such individual from the appropriation made by section 1304 of title 31, United States Code (popularly known as the Judgment Fund), in an amount equal to not more than the amount which bears the same ratio to the total recoverable amount described in clause (iii) as the actuarial present value of the accrued benefits of the individual under the pension plan from which the transfer was made (as of immediately before the transfer) bears to the actuarial present value of the accrued benefits of all individuals described in this clause under the pension plan from which the transfer was made (as of immediately before the transfer). (iii)For purposes of clause (ii), the total recoverable amount is an amount equal to the excess of— (I)the actuarial present value of benefits that would have been accrued by all individuals described in clause (i) under the pension plan from which the transfer was made if the transfer had not occurred and if benefit increases had occurred, in connection with the transferred liabilities, under such plan equivalent to benefit increases that have occurred under such plan in connection with the other liabilities under such plan, over (II)the actuarial present value of benefits accrued by all such individuals under the pension plan to which the transfer was made. (iv)For purposes of clause (iii), in an action authorized by this subparagraph, the court shall consider, with respect to the pension plan from which the transfer was made and the pension plan to which the transfer was made, only benefits which have been accrued (or would have been accrued) as of the date of enactment of this subparagraph. (v)For purposes of this subparagraph, any actuarial present value of benefits determined as of any time shall take into account reasonably anticipated subsequent adjustments to such benefits under plan provisions (as in effect at such time) providing for cost-of-living-adjustments. (vi)For purposes of clauses (iii) and (iv), any reference to the pension plan from which the transfer was made shall include a reference to any successor to such plan (other than the pension plan to which the transfer required under paragraph (2) was made) if such successor plan received assets in excess of the actuarial present value of accrued benefits under such plan upon succession. (vii)Notwithstanding section 1658 of title 28, United States Code, an action authorized by this subparagraph may be brought on or before June 30, 2011. (viii)Notwithstanding section 3109(a)(4), the United States consents to any action commenced under this subparagraph. (ix)Nothing in this subparagraph shall authorize an action against the Corporation or against any person or entity other than the Department of Energy.