H.R. 4955 · 114th Congress
Pension and Budget Integrity Act of 2016
- Stage
- In committee
- Sponsor
- James Renacci
- Introduced
- 2016-04-15
- Latest action
- 2016-09-19 · Referred to the Subcommittee on Health, Employment, Labor, and Pensions.
Summary
Pension and Budget Integrity Act of 2016
This bill amends the Employee Retirement Income Security Act of 1974 (ERISA) to exclude the receipts and disbursements of the Pension Benefit Guaranty Corporation (PBGC) from the federal budget.
(The PBGC is a federal agency that insures the benefits of private sector, defined benefit pension plans. The PBGC receives no federal funds and is financed by insurance premiums paid by sponsors of the plans, investment income, assets from pension plans taken over by the PBGC, and recoveries from the companies formerly responsible for the plans.)