[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5981 Introduced in House (IH)]

112th CONGRESS
  2d Session
                                H. R. 5981

  To amend title IV of the Employee Retirement Income Security Act of 
    1974 to provide for a guarantee by the Pension Benefit Guaranty 
   Corporation for qualified preretirement survivor annuities under 
          insolvent or terminated multiemployer pension plans.


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                    IN THE HOUSE OF REPRESENTATIVES

                             June 20, 2012

Mr. Petri (for himself and Mr. Andrews) introduced the following bill; 
   which was referred to the Committee on Education and the Workforce

_______________________________________________________________________

                                 A BILL


 
  To amend title IV of the Employee Retirement Income Security Act of 
    1974 to provide for a guarantee by the Pension Benefit Guaranty 
   Corporation for qualified preretirement survivor annuities under 
          insolvent or terminated multiemployer pension plans.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. GUARANTEE FOR PRE-RETIREMENT SURVIVOR ANNUITIES UNDER 
              MULTIEMPLOYER PENSION PLANS.

    (a) In General.--Section 4022A(b) of the Employee Retirement Income 
Security Act of 1974 (29 U.S.C. 1322a(b)) is amended by adding at the 
end the following new paragraph:
    ``(3) For purposes of subsection (a), a qualified preretirement 
survivor annuity (as defined in section 205(e)(1)) with respect to a 
participant under a multiemployer plan which becomes insolvent under 
section 4245(b) or 4281(d)(2) or is terminated shall not be treated as 
forfeitable solely because the participant has not died as of the date 
on which the plan became so insolvent or the termination date.''.
    (b) Retroactive Application.--The amendment made by this section 
shall apply with respect to multiemployer plan benefit payments 
becoming payable on or after December 31, 1984.
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