HR 3930 · 98th Congress · Labor and Employment
Single-Employer Pension Plan Amendments Act of 1983
Bill Progress
✓
Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Forwarded by Subcommittee to Full Committee (Amended).(1983-10-06)
Plain Language Summary
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Single-Employer Pension Plan Amendments Act of 1983 - Title I: Amendments to the Employee Retirement Income Security Act of 1974 - Amends the Employee Retirement Income Security Act of 1974 (ERISA) to add the following new terms and definitions: (1) contributing sponsor; (2) control groups; (3) single-employer plan; (4) composite single-employer plan; (5) amount of unfunded guaranteed benefits; and (6) amount of unfunded nonforfeitable benefits. Increases from $2.60 to $6.00 the annual premium rate payable to the Pension Benefit Guaranty Corporation by single-employer plans for plan years beginning after December 31, 1982. Authorizes the Corporation to establish annual premiums in accordance with revised rate bases. Amends the Act to require congressional approval of revised premium schedules by a joint resolution (currently a concurrent resolution is required.) Directs the Congressional Research Service of the Library of Congress to study the premiums established under the single-employer pension plan termination insurance program set forth in Title IV of ERISA. Requires submission of a report and recommendations to the Congress within two years. Authorizes appropriations. Prescri…
Summarized by Claude AI · Non-partisan · For informational purposes only
Cosponsors (20)
20 Republicans