HR 2995 · 99th Congress · Labor and Employment
Single-Employer Pension Plan Amendments Act of 1985
Bill Progress
✓
Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to Subcommittee on Labor-Management Relations.(1985-07-29)
Plain Language Summary
[AI summary unavailable — showing source text]
Single-Employer Pension Plan Amendments Act of 1985 - Title I: Amendments to the Employee Retirement Income Security Act of 1974 - Amends title IV (Plan Termination Insurance) of the Employee Retirement Income Security Act of 1974 (ERISA) to revise provisions relating to the single-employer pension plan termination insurance program. Sets forth new definitions relating to such program for the following terms: (1) contributing sponsor; (2) controlled group; (3) single-employer plan; (4) composite single-employer plan; (5) amount of unfunded guaranteed benefits; (6) final benefit obligation; and (7) person. Sets forth a technical correction to the Multiemployer Pension Plan Amendments of 1980. Amends ERISA to increase from $2.60 to $7.50 per capita the annual premium rate payable to the Pension Benefit Guaranty Corporation (the Corporation) by single-employer plans for plan years beginning after December 31, 1984. Requires that congressional approval of the Corporation's recommended revised premium schedules be by the enactment of a joint resolution (currently a concurrent resolution is required). Sets forth general requirements relating to the termination of single-employer plans by…
Summarized by Claude AI · Non-partisan · For informational purposes only