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H.R. 397: Rehabilitation for Multiemployer Pensions Act

CBO Score

$67.69 billion

Date of Report

Tue July 9th, 2019

Notes

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."

CBO Report Details

Legislation Details

116th Congress

To amend the Internal Revenue Code of 1986 to create a Pension Rehabilitation Trust Fund, to establish a Pension Rehabilitation Administration within the Department of the Treasury to make loans to multiemployer defined benefit plans, and for other purposes.

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...

View the full vote history of this bill on GovTrack.us.

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