HR 3501 · 115th Congress · Labor and Employment
Family-Owned Business Multiemployer Pension Correction Act of 2017
Bill Progress
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Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: 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.(2017-07-27)
Plain Language Summary
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Family-Owned Business Multiemployer Pension Correction Act of 2017 This bill directs the Department of the Treasury to establish a program to limit the liability of retail employers who do not employ more than 100 employees who are multiemployer pension plan participants (covered small employer) for withdrawing from a multiemployer pension plan to begin making contributions to a collectively bargained plan. A covered small employer is not eligible for such benefit unless Treasury determines that the affected multiemployer plan liabilities do not exceed 1% of total plan liabilities during a specified 3-year period.…
Summarized by Claude AI · Non-partisan · For informational purposes only