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114-hr-2844114th Congress

Keep Our Pension Promises Act

Sponsored By: Representative Kaptur, Marcy [D-OH-9]

Unknown

Summary

Keep Our Pension Promises Act This bill repeals the elimination of the pension anti-cutback provisions under the Multiemployer Pension Reform Act of 2014. The anti-cutback provisions prohibit reductions in pension benefits to participants in multiemployer pension plans. The bill amends the Employee Retirement Income Security Act of 1974 (ERISA) to allow a plan sponsor of an eligible multiemployer plan to petition the Pension Benefit Guaranty Corporation for a partition of a financially-troubled pension plan. PBGC is required to establish a legacy fund to cover the administrative and benefit costs resulting from a partition.. The bill amends the federal bankruptcy code to assign first claim priority to pension obligations under ERISA. The bill amends the Internal Revenue Code to: (1) impose a limit of $1 million on the exemption of the gain from the exchange of real property in a like kind exchange, (2) prohibit the use of like kind exchanges for collectibles, (3) establish estate valuation rules for certain transfers of nonbusiness assets, and (4) limit estate tax discounts for certain individuals with minority interests in a business acquired from a decedent.

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & CoSponsors

Sponsor

Kaptur, Marcy [D-OH-9]

OH • D

Cosponsors

  • Rep. Ryan, Tim [D-OH-13]

    OH • D

    Sponsored 6/19/2015

  • Rep. Ellison, Keith [D-MN-5]

    MN • D

    Sponsored 6/19/2015

  • Rep. Schakowsky, Janice D. [D-IL-9]

    IL • D

    Sponsored 6/19/2015

  • Rep. Boyle, Brendan F. [D-PA-2]

    PA • D

    Sponsored 6/19/2015

  • MICHAEL HONDA

    CA • D

    Sponsored 6/19/2015

  • LOUISE SLAUGHTER

    NY • D

    Sponsored 6/19/2015

  • Rep. Moore, Gwen [D-WI-4]

    WI • D

    Sponsored 6/25/2015

  • Rep. Veasey, Marc A. [D-TX-33]

    TX • D

    Sponsored 7/27/2015

  • JIM MCDERMOTT

    WA • D

    Sponsored 7/27/2015

  • PETER VISCLOSKY

    IN • D

    Sponsored 9/9/2015

  • Rep. Beatty, Joyce [D-OH-3]

    OH • D

    Sponsored 9/9/2015

  • Rep. Lofgren, Zoe [D-CA-18]

    CA • D

    Sponsored 9/9/2015

  • RICHARD NOLAN

    MN • D

    Sponsored 9/9/2015

  • Del. Norton, Eleanor Holmes [D-DC-At Large]

    DC • D

    Sponsored 9/9/2015

  • Rep. Velázquez, Nydia M. [D-NY-7]

    NY • D

    Sponsored 9/9/2015

  • Rep. Lieu, Ted [D-CA-36]

    CA • D

    Sponsored 9/9/2015

  • Rep. O'Rourke, Beto [D-TX-16]

    TX • D

    Sponsored 9/10/2015

  • Rep. Sires, Albio [D-NJ-8]

    NJ • D

    Sponsored 9/10/2015

  • GENE GREEN

    TX • D

    Sponsored 9/10/2015

  • Rep. Clarke, Yvette D. [D-NY-9]

    NY • D

    Sponsored 9/10/2015

  • Rep. Pallone, Frank [D-NJ-6]

    NJ • D

    Sponsored 9/16/2015

  • Rep. Chu, Judy [D-CA-28]

    CA • D

    Sponsored 9/16/2015

  • Rep. Payne, Donald M., Jr. [D-NJ-10]

    NJ • D

    Sponsored 9/16/2015

  • Rep. Jeffries, Hakeem S. [D-NY-8]

    NY • D

    Sponsored 9/16/2015

  • Rep. Garamendi, John [D-CA-8]

    CA • D

    Sponsored 9/24/2015

  • Rep. Adams, Alma S. [D-NC-12]

    NC • D

    Sponsored 9/24/2015

  • Rep. Cohen, Steve [D-TN-9]

    TN • D

    Sponsored 10/9/2015

  • Rep. Bustos, Cheri [D-IL-17]

    IL • D

    Sponsored 10/21/2015

  • Rep. Kildee, Daniel T. [D-MI-8]

    MI • D

    Sponsored 10/26/2015

  • Rep. Grayson, Alan [D-FL-9]

    FL • D

    Sponsored 11/3/2015

  • COLLIN PETERSON

    MN • D

    Sponsored 11/18/2015

  • Rep. Dingell, Debbie [D-MI-6]

    MI • D

    Sponsored 11/18/2015

  • Rep. Johnson, Henry C. "Hank" [D-GA-4]

    GA • D

    Sponsored 11/18/2015

  • Rep. Yarmuth, John A. [D-KY-3]

    KY • D

    Sponsored 11/18/2015

  • Rep. Scott, David [D-GA-13]

    GA • D

    Sponsored 12/2/2015

  • Rep. Tonko, Paul [D-NY-20]

    NY • D

    Sponsored 2/3/2016

  • Rep. Kelly, Robin L. [D-IL-2]

    IL • D

    Sponsored 2/3/2016

  • Rep. Cleaver, Emanuel [D-MO-5]

    MO • D

    Sponsored 2/12/2016

  • Rep. Jackson Lee, Sheila [D-TX-18]

    TX • D

    Sponsored 2/24/2016

  • Rep. Higgins, Brian [D-NY-26]

    NY • D

    Sponsored 2/24/2016

  • Rep. McCollum, Betty [D-MN-4]

    MN • D

    Sponsored 3/2/2016

  • Rep. Langevin, James R. [D-RI-2]

    RI • D

    Sponsored 3/15/2016

  • Rep. Johnson, Eddie Bernice [D-TX-30]

    TX • D

    Sponsored 3/15/2016

  • Sen. Duckworth, Tammy [D-IL]

    IL • D

    Sponsored 4/15/2016

  • Rep. Napolitano, Grace F. [D-CA-31]

    CA • D

    Sponsored 4/21/2016

  • Rep. Vela, Filemon [D-TX-34]

    TX • D

    Sponsored 4/27/2016

  • Rep. Roybal-Allard, Lucille [D-CA-40]

    CA • D

    Sponsored 5/11/2016

  • Rep. Bishop, Sanford D. [D-GA-2]

    GA • D

    Sponsored 5/11/2016

  • Rep. DeLauro, Rosa L. [D-CT-3]

    CT • D

    Sponsored 5/11/2016

  • Rep. Hastings, Alcee L. [D-FL-20]

    FL • D

    Sponsored 5/18/2016

  • JOHN CONYERS

    MI • D

    Sponsored 6/14/2016

  • Rep. Wasserman Schultz, Debbie [D-FL-25]

    FL • D

    Sponsored 7/14/2016

  • Rep. Green, Al [D-TX-9]

    TX • D

    Sponsored 9/7/2016

  • WM. CLAY

    MO • D

    Sponsored 9/27/2016

  • Rep. Walz, Timothy J. [D-MN-1]

    MN • D

    Sponsored 11/17/2016

Roll Call Votes

No roll call votes available for this bill.

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