legislation: 114-s-2894

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bill_id congress bill_type bill_number title policy_area introduced_date latest_action_date latest_action_text origin_chamber sponsor_name sponsor_state sponsor_party sponsor_bioguide_id cosponsor_count summary_text update_date url
114-s-2894 114 s 2894 Pension Fund Integrity Act of 2016 Labor and Employment 2016-04-28 2016-04-28 Read twice and referred to the Committee on Health, Education, Labor, and Pensions. Senate Sen. Stabenow, Debbie [D-MI] MI D S000770 5 Pension Fund Integrity Act of 2016 This bill amends the Internal Revenue Code and the Employee Retirement Income Security Act of 1974 (ERISA) to require salary reductions for certain employees of systemically important multiemployer pension plans that are in critical or declining status and that reduce participant benefits. When a benefit suspension is in effect, any compensation paid to employees of a plan that exceeds the amounts specified in this bill is a prohibited transaction that is subject to a tax to be paid by the plan sponsor. If a plan is in endangered, critical, or critical and declining status, payments for lobbying and political expenses for any person other than an employee of the plan are prohibited transactions and subject to a tax to be paid by the plan sponsor. 2023-01-11T13:33:06Z  

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