S 2329 · 98th Congress · Labor and Employment
Multiemployer Plan Termination Insurance Reform Act of 1984
Bill Progress
✓
Introduced2
Committee3
Senate Vote4
House5
EnactedLatest: Subcommittee on Labor. Hearings concluded. Hearings printed: S.Hrg. 98-852.(1984-05-17)
Plain Language Summary
[AI summary unavailable — showing source text]
Multiemployer Plan Termination Insurance Reform Act of 1984 - Amends the Employee Retirement Income Security Act of 1974 (ERISA) to redefine the circumstances which trigger withdrawal liability for employers in the trucking and warehousing industries. Identifies such circumstances as: (1) the resumption or continuation by an employer of the same type of business in the same area of the pension plan within five years after such employer's contribution obligation has ceased and the employer does not renew it; and (2) the transfer by such an employer of specified business assets to purchasers operating the same type of business in the same area of the plan who have no contribution obligation to any pension plan for such work. Details the conditions under which: (1) a pension plan is deemed a "trucking and warehousing plan" for purposes of this Act; (2) the cessation of an employer's contribution obligation due to loss of a contract is not considered a complete withdrawal from a pension plan; (3) the sale of an employer's business assets at auction (or in conection with Federal bankruptcy proceedings) is not considered a complete withdrawal from a pension plan; and (4) an employer's wi…
Summarized by Claude AI · Non-partisan · For informational purposes only