Tue July 9th, 2019
Preliminary estimate: "does not include an analysis of the administrative costs to Treasury and PBGC associated with reviewing applications and approving disbursement of loans and new financial assistance."
Sponsor: Rep. Richard Neal — D — MA
Establishes the Pension Rehabilitation Administration within the Department of the Treasury and a related trust fund to make loans to certain multiemployer defined benefit pension plans. To receive a loan, a plan must be either in critical and declining status (including any plan with respect to which a suspension of benefits has been approved) or insolvent, if the plan became insolvent after December 16, 2014, and has not been termina...
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