Rehabilitation for Multiemployer Pensions Act
Sponsored By: Representative Neal
Unknown
Summary
Rehabilitation for Multiemployer Pensions Act This bill 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 terminated. Treasury must issue bonds to fund the loan program and transfer amounts equal to the proceeds to the trust fund established by this bill. The Pension Rehabilitation Administration may use the funds, without a further appropriation, to make loans, pay principal and interest on the bonds, or for administrative and operating expenses. The bill amends the Employee Retirement Income Security Act of 1974 (ERISA) to allow the sponsor of a multiemployer pension plan that is applying for a loan under this bill to also apply to the Pension Benefit Guaranty Corporation (PBGC) for financial assistance if, after receiving the loan, the plan will still become (or remain) insolvent within the 30-year period beginning on the date of the loan. The bill also appropriates to the PBGC the funds that are necessary to provide the financial assistance required by this bill.
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Bill Overview
No Economic Impacts Identified for this Bill
Sponsors & CoSponsors
Sponsor
Neal
MA • D
Cosponsors
Rep. Levin, Sander M. [D-MI-9]
MI • D
Sponsored 11/16/2017
Thompson (CA)
CA • D
Sponsored 11/16/2017
Rep. Crowley, Joseph [D-NY-14]
NY • D
Sponsored 11/16/2017
Davis (IL)
IL • D
Sponsored 11/16/2017
Rep. Higgins, Brian [D-NY-26]
NY • D
Sponsored 11/16/2017
Rep. Bustos, Cheri [D-IL-17]
IL • D
Sponsored 11/16/2017
Carson
IN • D
Sponsored 11/16/2017
Castor (FL)
FL • D
Sponsored 11/16/2017
Rep. Cicilline, David N. [D-RI-1]
RI • D
Sponsored 11/16/2017
Cleaver
MO • D
Sponsored 11/16/2017
Clyburn
SC • D
Sponsored 11/16/2017
Dingell
MI • D
Sponsored 11/16/2017
Espaillat
NY • D
Sponsored 11/16/2017
Evans (PA)
PA • D
Sponsored 11/16/2017
Rep. Fudge, Marcia L. [D-OH-11]
OH • D
Sponsored 11/16/2017
Lisa Blunt Rochester
DE • D
Sponsored 11/16/2017
Rep. Rice, Kathleen M. [D-NY-4]
NY • D
Sponsored 11/16/2017
Pallone
NJ • D
Sponsored 11/16/2017
Del. Norton, Eleanor Holmes [D-DC-At Large]
DC • D
Sponsored 11/16/2017
Norcross
NJ • D
Sponsored 11/16/2017
Rep. Nolan, Richard M. [D-MN-8]
MN • D
Sponsored 11/16/2017
Rep. Napolitano, Grace F. [D-CA-32]
CA • D
Sponsored 11/16/2017
Moore (WI)
WI • D
Sponsored 11/16/2017
Rep. Maloney, Carolyn B. [D-NY-12]
NY • D
Sponsored 11/16/2017
Lynch
MA • D
Sponsored 11/16/2017
Beatty
OH • D
Sponsored 11/16/2017
Rep. Green, Gene [D-TX-29]
TX • D
Sponsored 11/16/2017
Rep. Ellison, Keith [D-MN-5]
MN • D
Sponsored 11/30/2017
Rep. Walz, Timothy J. [D-MN-1]
MN • D
Sponsored 11/30/2017
Rep. O'Halleran, Tom [D-AZ-1]
AZ • D
Sponsored 11/30/2017
Rep. Slaughter, Louise McIntosh [D-NY-25]
NY • D
Sponsored 11/30/2017
Nadler
NY • D
Sponsored 11/30/2017
Rep. Maloney, Sean Patrick [D-NY-18]
NY • D
Sponsored 11/30/2017
Soto
FL • D
Sponsored 11/30/2017
Rep. Eshoo, Anna G. [D-CA-18]
CA • D
Sponsored 11/30/2017
Frankel, Lois
FL • D
Sponsored 11/30/2017
Pelosi
CA • D
Sponsored 11/30/2017
Tonko
NY • D
Sponsored 11/30/2017
Lofgren
CA • D
Sponsored 11/30/2017
Keating
MA • D
Sponsored 12/11/2017
Panetta
CA • D
Sponsored 12/11/2017
Rep. DeFazio, Peter A. [D-OR-4]
OR • D
Sponsored 12/20/2017
Rep. Jackson Lee, Sheila [D-TX-18]
TX • D
Sponsored 12/21/2017
Bonamici
OR • D
Sponsored 11/16/2017
Rep. Hastings, Alcee L. [D-FL-20]
FL • D
Sponsored 11/16/2017
Kaptur
OH • D
Sponsored 11/16/2017
Rep. Kildee, Daniel T. [D-MI-5]
MI • D
Sponsored 11/16/2017
Wilson (FL)
FL • D
Sponsored 11/16/2017
Waters
CA • D
Sponsored 11/16/2017
Velazquez
NY • D
Sponsored 11/16/2017
Rep. Vela, Filemon [D-TX-34]
TX • D
Sponsored 11/16/2017
Scott (VA)
VA • D
Sponsored 11/16/2017
Schakowsky
IL • D
Sponsored 11/16/2017
Del. Sablan, Gregorio Kilili Camacho [D-MP-At Large]
MP • D
Sponsored 11/16/2017
Rep. Ryan, Tim [D-OH-13]
OH • D
Sponsored 11/16/2017
Clark (MA)
MA • D
Sponsored 11/30/2017
Hoyer
MD • D
Sponsored 11/30/2017
Rep. Hanabusa, Colleen [D-HI-1]
HI • D
Sponsored 11/30/2017
Rep. Cárdenas, Tony [D-CA-29]
CA • D
Sponsored 11/30/2017
Courtney
CT • D
Sponsored 12/1/2017
Larson (CT)
CT • D
Sponsored 12/1/2017
McCollum
MN • D
Sponsored 12/1/2017
Rep. Lewis, John [D-GA-5]
GA • D
Sponsored 12/1/2017
Rep. Crist, Charlie [D-FL-13]
FL • D
Sponsored 12/1/2017
Smith (WA)
WA • D
Sponsored 12/5/2017
Doggett
TX • D
Sponsored 12/5/2017
Rep. Blumenauer, Earl [D-OR-3]
OR • D
Sponsored 12/5/2017
Rep. Pascrell, Bill, Jr. [D-NJ-9]
NJ • D
Sponsored 12/5/2017
Sanchez
CA • D
Sponsored 12/5/2017
Sewell
AL • D
Sponsored 12/5/2017
Chu
CA • D
Sponsored 12/5/2017
Meng
NY • D
Sponsored 12/5/2017
Gonzalez, V.
TX • D
Sponsored 12/5/2017
Cohen
TN • D
Sponsored 12/11/2017
Rep. Brady, Robert A. [D-PA-1]
PA • D
Sponsored 12/11/2017
Wasserman Schultz
FL • D
Sponsored 12/11/2017
Peter Welch
VT • D
Sponsored 12/11/2017
Raskin
MD • D
Sponsored 12/11/2017
Krishnamoorthi
IL • D
Sponsored 12/11/2017
Rep. Kuster, Ann M. [D-NH-2]
NH • D
Sponsored 12/11/2017
Jayapal
WA • D
Sponsored 12/11/2017
Pocan
WI • D
Sponsored 12/11/2017
DeSaulnier
CA • D
Sponsored 12/11/2017
Carbajal
CA • D
Sponsored 12/11/2017
Kelly (IL)
IL • D
Sponsored 12/13/2017
McGovern
MA • D
Sponsored 12/13/2017
Rep. Esty, Elizabeth H. [D-CT-5]
CT • D
Sponsored 12/13/2017
Rep. Lee, Barbara [D-CA-13]
CA • D
Sponsored 12/13/2017
Rep. Clay, Wm. Lacy [D-MO-1]
MO • D
Sponsored 12/14/2017
Rep. Sires, Albio [D-NJ-8]
NJ • D
Sponsored 12/14/2017
Jeffries
NY • D
Sponsored 12/18/2017
Larsen (WA)
WA • D
Sponsored 12/18/2017
Rep. Lipinski, Daniel [D-IL-3]
IL • D
Sponsored 12/18/2017
Watson Coleman
NJ • D
Sponsored 12/18/2017
Matsui
CA • D
Sponsored 12/20/2017
Rep. Peterson, Collin C. [D-MN-7]
MN • D
Sponsored 12/20/2017
Green, Al (TX)
TX • D
Sponsored 12/20/2017
Rep. Loebsack, David [D-IA-2]
IA • D
Sponsored 12/20/2017
Foster
IL • D
Sponsored 12/20/2017
Rep. Gutierrez, Luis V. [D-IL-4]
IL • D
Sponsored 12/20/2017
Swalwell
CA • D
Sponsored 12/21/2017
Torres (CA)
CA • D
Sponsored 12/21/2017
Sherman
CA • D
Sponsored 12/21/2017
Castro (TX)
TX • D
Sponsored 12/21/2017
Rep. Lawson, Al, Jr. [D-FL-5]
FL • D
Sponsored 12/21/2017
Vargas
CA • D
Sponsored 12/21/2017
Rep. Richmond, Cedric L. [D-LA-2]
LA • D
Sponsored 1/9/2018
Rep. Johnson, Eddie Bernice [D-TX-30]
TX • D
Sponsored 1/9/2018
Rep. McNerney, Jerry [D-CA-9]
CA • D
Sponsored 1/9/2018
DeGette
CO • D
Sponsored 1/9/2018
Sen. Luján, Ben Ray [D-NM]
NM • D
Sponsored 1/9/2018
Connolly
VA • D
Sponsored 1/9/2018
Rep. Doyle, Michael F. [D-PA-14]
PA • D
Sponsored 1/9/2018
Rep. Visclosky, Peter J. [D-IN-1]
IN • D
Sponsored 1/9/2018
Brownley
CA • D
Sponsored 1/9/2018
Rep. Ruppersberger, C. A. Dutch [D-MD-2]
MD • D
Sponsored 1/9/2018
Rep. Perlmutter, Ed [D-CO-7]
CO • D
Sponsored 1/9/2018
Kevin Cramer
ND • R
Sponsored 1/9/2018
Pingree
ME • D
Sponsored 1/10/2018
Beyer
VA • D
Sponsored 1/10/2018
Moulton
MA • D
Sponsored 1/10/2018
Jacky Rosen
NV • D
Sponsored 1/17/2018
Fitzpatrick
PA • R
Sponsored 1/30/2018
Rep. Capuano, Michael E. [D-MA-7]
MA • D
Sponsored 2/6/2018
Rep. Lowenthal, Alan S. [D-CA-47]
CA • D
Sponsored 2/6/2018
DeLauro
CT • D
Sponsored 2/14/2018
Rep. Sarbanes, John P. [D-MD-3]
MD • D
Sponsored 2/14/2018
Rep. Young, Don [R-AK-At Large]
AK • R
Sponsored 2/14/2018
Rep. MacArthur, Thomas [R-NJ-3]
NJ • R
Sponsored 2/14/2018
Adam Schiff
CA • D
Sponsored 2/14/2018
Rep. Costello, Ryan A. [R-PA-6]
PA • R
Sponsored 2/26/2018
Rep. Yarmuth, John A. [D-KY-3]
KY • D
Sponsored 2/26/2018
Rep. Lujan Grisham, Michelle [D-NM-1]
NM • D
Sponsored 2/26/2018
Rep. Shea-Porter, Carol [D-NH-1]
NH • D
Sponsored 1/9/2018
Rep. King, Peter T. [R-NY-2]
NY • R
Sponsored 1/9/2018
Khanna
CA • D
Sponsored 1/9/2018
Veasey
TX • D
Sponsored 1/10/2018
Garamendi
CA • D
Sponsored 1/10/2018
Rep. Price, David E. [D-NC-4]
NC • D
Sponsored 1/17/2018
Takano
CA • D
Sponsored 1/17/2018
Rep. Kind, Ron [D-WI-3]
WI • D
Sponsored 1/17/2018
Rep. Kihuen, Ruben J. [D-NV-4]
NV • D
Sponsored 1/17/2018
Titus
NV • D
Sponsored 1/30/2018
Adams
NC • D
Sponsored 2/2/2018
Rep. Langevin, James R. [D-RI-2]
RI • D
Sponsored 2/2/2018
Rep. O'Rourke, Beto [D-TX-16]
TX • D
Sponsored 2/2/2018
Rep. Polis, Jared [D-CO-2]
CO • D
Sponsored 2/2/2018
Rep. Donovan, Daniel M., Jr. [R-NY-11]
NY • R
Sponsored 2/2/2018
Smith (NJ)
NJ • R
Sponsored 2/2/2018
Rep. LoBiondo, Frank A. [R-NJ-2]
NJ • R
Sponsored 2/6/2018
Rep. Tsongas, Niki [D-MA-3]
MA • D
Sponsored 3/6/2018
Aguilar
CA • D
Sponsored 3/13/2018
Rep. Cartwright, Matt [D-PA-17]
PA • D
Sponsored 4/16/2018
Rep. Fortenberry, Jeff [R-NE-1]
NE • R
Sponsored 4/24/2018
Rep. Kennedy, Joseph P., III [D-MA-4]
MA • D
Sponsored 1/10/2018
Schneider
IL • D
Sponsored 3/6/2018
Rep. Butterfield, G. K. [D-NC-1]
NC • D
Sponsored 4/16/2018
Suozzi
NY • D
Sponsored 4/25/2018
Rep. Lamb, Conor [D-PA-17]
PA • D
Sponsored 4/25/2018
Rep. Lawrence, Brenda L. [D-MI-14]
MI • D
Sponsored 5/8/2018
Huffman
CA • D
Sponsored 9/25/2018
Huizenga
MI • R
Sponsored 11/16/2018
Rep. Roybal-Allard, Lucille [D-CA-40]
CA • D
Sponsored 11/28/2018
Peters
CA • D
Sponsored 12/10/2018
Thompson (MS)
MS • D
Sponsored 5/8/2018
Rep. Lance, Leonard [R-NJ-7]
NJ • R
Sponsored 5/8/2018
Rep. Serrano, Jose E. [D-NY-15]
NY • D
Sponsored 6/12/2018
Rep. McEachin, A. Donald [D-VA-4]
VA • D
Sponsored 6/25/2018
Bishop
GA • D
Sponsored 6/25/2018
Lieu
CA • D
Sponsored 7/11/2018
Rep. Speier, Jackie [D-CA-14]
CA • D
Sponsored 7/11/2018
Rep. Young, David [R-IA-3]
IA • R
Sponsored 7/25/2018
Rep. Katko, John [R-NY-24]
NY • R
Sponsored 9/28/2018
Rep. Schrader, Kurt [D-OR-5]
OR • D
Sponsored 11/16/2018
Roll Call Votes
No roll call votes available for this bill.
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