HR 458 — To amend the Employee Retirement Income Security Act of 1974 to permit multiemployer plans in critical status to modify plan rules relating to withdrawal liability, and for other purposes.

1 sponsors · 0 co-sponsors · 546 not signed on

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Frequently asked questions

What does HR 458 do?

To amend the Employee Retirement Income Security Act of 1974 to permit multiemployer plans in critical status to modify plan rules relating to withdrawal liability, and for other purposes. Amends the Employee Retirement Income Security Act (ERISA) to revise requirements permitting multiemployer plans to adopt alternative rules for computing the payment of an employer's withdrawal liability to include a plan in critical status whose plan sponsor determines it cannot be expected to emerge from that status by the end of the rehabilitation period. Requires any such rule to become effective 90 days after adoption unless the corporation disapproves it before the end of the 90-day period (subject to tolling while a request by the corporation for additional information is pending). Authorizes a corporation to disapprove a rule only if it creates an unreasonable risk of loss to plan participants and beneficiaries or to the corporation.

Who sponsors HR 458?

HR 458 is sponsored by Pete Sessions (R).

What is the current status of HR 458?

This bill died with 114th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

Where can I track HR 458?

Track HR 458 free on One Click Politics — get push/email alerts when it moves.