S. 5045 · 116th Congress
Chris Allen Multiemployer Pension Recapitalization and Reform Act of 2020
- Stage
- In committee
- Sponsor
- Chuck Grassley
- Introduced
- 2020-12-17
- Latest action
- 2020-12-17 · Introduced in Senate
Summary
Chris Allen Multiemployer Pension Recapitalization and Reform Act of 2020
This bill makes various changes with respect to the administration of multiemployer pension plans. Among other provisions, the bill allows qualified plans to apply for special partition assistance from the Pension Benefit Guaranty Corporation, revises the criteria for plans that are in endangered or critical status, and establishes rules for new composite plans that have certain attributes of both defined benefit and defined contribution plans.