A bill to amend the Employee Retirement Income Security Act of 1974 to require the Pension Benefit Guaranty Corporation to notify plan participants and beneficiaries of the commencement of proceedings to terminate such plan.

Summary

Amends the Employee Retirement Income Security Act of 1974 (ERISA) to direct the Pension Benefit Guaranty Corporation (PBGC) to notify affected parties of the commencement of PBGC proceedings to terminate a defined benefit plan, within 30 days after the PBGC notifies a plan administrator regarding such proceedings. Requires the plan administrator to provide the PBGC with a list of the names and addresses of all participants and beneficiaries of such a plan. Requires the PBGC to provide: (1) written notice to each affected party of the plan; (2) notice in the two newspapers with the largest circulation in the area of the majority of the affected parties; and (3) the proposed date and the procedure for such intended termination.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 20 December 2001

   Introduced

   Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

   Source: IntroReferral

2. 20 December 2001

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 20 December 2001 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 20 December 2001

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 20 December 2001

  DownloadOpen at official source

• Introduced in Senate

  summary · EN · 20 December 2001

  Open at official source

Sponsors

• Sen. Bayh, Evan [D-IN] · D · Sponsor
• · sshr00 · Standing

Related records

No cross-record relationships stored yet.