H.R. 3501 · 115th Congress
Family-Owned Business Multiemployer Pension Correction Act of 2017
- Stage
- In committee
- Sponsor
- Erik Paulsen
- Introduced
- 2017-07-27
- Latest action
- 2017-07-27 · Introduced in House
Summary
Family-Owned Business Multiemployer Pension Correction Act of 2017
This bill directs the Department of the Treasury to establish a program to limit the liability of retail employers who do not employ more than 100 employees who are multiemployer pension plan participants (covered small employer) for withdrawing from a multiemployer pension plan to begin making contributions to a collectively bargained plan. A covered small employer is not eligible for such benefit unless Treasury determines that the affected multiemployer plan liabilities do not exceed 1% of total plan liabilities during a specified 3-year period.