[Congressional Record Volume 165, Number 98 (Wednesday, June 12, 2019)]
[Senate]
[Pages S3399-S3400]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]
SA 301. Mr. MANCHIN submitted an amendment intended to be proposed by
him to the bill S. 1790, to authorize appropriations for fiscal year
2020 for military activities of the Department of Defense, for military
construction, and for defense activities of the Department of Energy,
to prescribe military personnel strengths for such fiscal year, and for
other purposes; which was ordered to lie on the table; as follows:
At the appropriate place, insert the following:
SEC. ____. AMERICAN MINERS ACT OF 2019.
(a) Transfers to 1974 UMWA Pension Plan.--
(1) In general.--Subsection (i) of section 402 of the
Surface Mining Control and Reclamation Act of 1977 (30 U.S.C.
1232) is amended--
(A) in paragraph (3)(A), by striking ``$490,000,000'' and
inserting ``$750,000,000'';
(B) by redesignating paragraph (4) as paragraph (5); and
(C) by inserting after paragraph (3) the following:
``(4) Additional amounts.--
``(A) Calculation.--If the dollar limitation specified in
paragraph (3)(A) exceeds the aggregate amount required to be
transferred under paragraphs (1) and (2) for a fiscal year,
the Secretary of the Treasury shall transfer an additional
amount equal to the difference between such dollar limitation
and such aggregate amount to the trustees of the 1974 UMWA
Pension Plan to pay benefits required under that plan.
``(B) Cessation of transfers.--The transfers described in
subparagraph (A) shall cease as of the first fiscal year
beginning after the first plan year for which the funded
percentage (as defined in section 432(j)(2) of the Internal
Revenue Code of 1986) of the 1974 UMWA Pension Plan is at
least 100 percent.
``(C) Prohibition on benefit increases, etc.--During a
fiscal year in which the 1974 UMWA Pension Plan is receiving
transfers under subparagraph (A), no amendment of such plan
which increases the liabilities of the plan by reason of any
increase in benefits, any change in the accrual of benefits,
or any change in the rate at which benefits become
nonforfeitable under the plan may be adopted unless the
amendment is required as a condition of qualification under
part I of subchapter D of chapter 1 of the Internal Revenue
Code of 1986.
``(D) Treatment of transfers for purposes of withdrawal
liability under erisa.--The amount of any transfer made under
subparagraph (A) (and any earnings attributable thereto)
shall be disregarded in determining the unfunded vested
benefits of the 1974 UMWA Pension Plan and the allocation of
such unfunded vested benefits to an employer for purposes of
determining the employer's withdrawal liability under section
4201 of the Employee Retirement Income Security Act of 1974.
``(E) Requirement to maintain contribution rate.--A
transfer under subparagraph (A) shall not be made for a
fiscal year unless the persons that are obligated to
contribute to the 1974 UMWA Pension Plan on the date of the
transfer are obligated to make the contributions at rates
that are no less than those in effect on the date which is 30
days before the date of enactment of the National Defense
Authorization Act for Fiscal Year 2020.
``(F) Enhanced annual reporting.--
``(i) In general.--Not later than the 90th day of each plan
year beginning after the date of enactment of the National
Defense Authorization Act for Fiscal Year 2020, the trustees
of the 1974 UMWA Pension Plan shall file with the Secretary
of the Treasury or the Secretary's delegate and the Pension
Benefit Guaranty Corporation a report (including appropriate
documentation and actuarial certifications from the plan
actuary, as required by the Secretary of the Treasury or the
Secretary's delegate) that contains--
``(I) whether the plan is in endangered or critical status
under section 305 of the Employee Retirement Income Security
Act of 1974 and section 432 of the Internal Revenue Code of
1986 as of the first day of such plan year;
``(II) the funded percentage (as defined in section
432(j)(2) of such Code) as of the first day of such plan
year, and the underlying actuarial value of assets and
liabilities taken into account in determining such
percentage;
``(III) the market value of the assets of the plan as of
the last day of the plan year preceding such plan year;
``(IV) the total value of all contributions made during the
plan year preceding such plan year;
``(V) the total value of all benefits paid during the plan
year preceding such plan year;
``(VI) cash flow projections for such plan year and either
the 6 or 10 succeeding plan years, at the election of the
trustees, and the assumptions relied upon in making such
projections;
``(VII) funding standard account projections for such plan
year and the 9 succeeding plan years, and the assumptions
relied upon in making such projections;
``(VIII) the total value of all investment gains or losses
during the plan year preceding such plan year;
``(IX) any significant reduction in the number of active
participants during the plan year preceding such plan year,
and the reason for such reduction;
``(X) a list of employers that withdrew from the plan in
the plan year preceding such plan year, and the resulting
reduction in contributions;
``(XI) a list of employers that paid withdrawal liability
to the plan during the plan year preceding such plan year
and, for each employer, a total assessment of the withdrawal
liability paid, the annual payment amount, and the number of
years remaining in the payment schedule with respect to such
withdrawal liability;
``(XII) any material changes to benefits, accrual rates, or
contribution rates during the plan year preceding such plan
year;
``(XIII) any scheduled benefit increase or decrease in the
plan year preceding such plan year having a material effect
on liabilities of the plan;
``(XIV) details regarding any funding improvement plan or
rehabilitation plan and updates to such plan;
``(XV) the number of participants and beneficiaries during
the plan year preceding such plan year who are active
participants, the number of participants and beneficiaries in
pay status, and the number of terminated vested participants
and beneficiaries;
``(XVI) the information contained on the most recent annual
funding notice submitted by the plan under section 101(f) of
the Employee Retirement Income Security Act of 1974;
``(XVII) the information contained on the most recent
Department of Labor Form 5500 of the plan; and
``(XVIII) copies of the plan document and amendments, other
retirement benefit or ancillary benefit plans relating to the
plan and contribution obligations under such plans, a
breakdown of administrative expenses of the plan, participant
census data and distribution of benefits, the most recent
actuarial valuation report as of the plan year, copies of
collective bargaining agreements, and financial reports, and
such other information as the Secretary of the Treasury or
the Secretary's delegate, in consultation with the Secretary
of Labor and the Director of the Pension Benefit Guaranty
Corporation, may require.
``(ii) Electronic submission.--The report required under
clause (i) shall be submitted electronically.
``(iii) Information sharing.--The Secretary of the Treasury
or the Secretary's delegate shall share the information in
the report under clause (i) with the Secretary of Labor.
``(iv) Penalty.--Any failure to file the report required
under clause (i) on or before the date described in such
clause shall be treated as a failure to file a report
required to be filed under section 6058(a) of the Internal
Revenue Code of 1986, except that section 6652(e) of such
Code shall be applied with respect to any such failure by
substituting `$100' for `$25'. The preceding sentence shall
not apply if the Secretary of the Treasury or the Secretary's
delegate determines that reasonable diligence has been
exercised by the trustees of such plan in attempting to
timely file such report.
``(G) 1974 umwa pension plan defined.--For purposes of this
paragraph, the term `1974 UMWA Pension Plan' has the meaning
given the term in section 9701(a)(3) of the Internal Revenue
Code of 1986, but without regard to the limitation on
participation to individuals who retired in 1976 and
thereafter.''.
(2) Effective dates.--
(A) In general.--The amendments made by this subsection
shall apply to fiscal years beginning after September 30,
2016.
(B) Reporting requirements.--Section 402(i)(4)(F) of the
Surface Mining Control and Reclamation Act of 1977 (30 U.S.C.
1232(i)(4)(F)), as added by this subsection, shall apply to
plan years beginning after the date of the enactment of this
Act.
(b) Inclusion in Multiemployer Health Benefit Plan.--
Section 402(h)(2)(C) of the Surface Mining Control and
Reclamation Act of 1977 (30 U.S.C. 1232(h)(2)(C)) is
amended--
(1) by striking ``the Health Benefits for Miners Act of
2017'' both places it appears in clause (ii) and inserting
``the National Defense Authorization Act for Fiscal Year
2020'';
(2) by striking ``, would be denied or reduced as a result
of a bankruptcy proceeding commenced in 2012 or 2015'' in
clause (ii)(II) and inserting ``or a related coal wage
agreement, would be denied or reduced as a result of a
bankruptcy proceeding commenced in 2012, 2015, or 2018'';
(3) by striking ``January 1, 2017'' in clause (ii) and
inserting ``January 1, 2018''; and
(4) by adding at the end the following new clause:
``(vi) Related coal wage agreement.--For purposes of clause
(ii), the term `related coal wage agreement' means an
agreement between the United Mine Workers of America and an
employer in the bituminous coal industry that--
``(I) is a signatory operator; or
``(II) is or was a debtor in a bankruptcy proceeding that
was consolidated, administratively or otherwise, with the
bankruptcy proceeding of a signatory operator or a related
person to a signatory operator (as those terms are defined in
section 9701(c) of the Internal Revenue Code of 1986).''.
(c) Reduction in Minimum Age for Allowable In-service
Distributions.--
(1) In general.--Section 401(a)(36) of the Internal Revenue
Code of 1986 is amended by striking ``age 62'' and inserting
``age 59\1/2\''.
[[Page S3400]]
(2) Application to governmental section 457(b) plans.--
Clause (i) of section 457(d)(1)(A) of the Internal Revenue
Code of 1986 is amended by inserting ``(in the case of a plan
maintained by an employer described in subsection (e)(1)(A),
age 59\1/2\)'' before the comma at the end.
(3) Effective date.--The amendments made by this subsection
shall apply to plan years beginning after December 31, 2017.
(d) Black Lung Liability Trust Fund Excise Tax.--
(1) In general.--Section 4121(e)(2)(A) of the Internal
Revenue Code of 1986 is amended by striking ``December 31,
2018'' and inserting ``December 31, 2028''.
(2) Effective date.--The amendment made by this subsection
shall apply to sales after December 31, 2018.
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