H.R. 6143: Pension Protection Act ERISA Amendments of 2008

110th Congress · introduced 2008-05-22 · Labor and Employment · Latest: Sponsor introductory remarks on measure. (CR E1097-1098)

federal

Follow this bill, step by step

Where it came from: introduced 2008-05-22 · official record
Who proposed it: Rep. Andrews, Robert E. [D-NJ-1] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Sponsor introductory remarks on measure. (CR E1097-1098) Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Pension Protection Act ERISA Amendments of 2008

Plain summary

Pension Protection Act ERISA Amendments of 2008 - Makes technical corrections to the Pension Protection Act of 2006 and the Employee Retirement Income Security Act (ERISA) of 1974. Repeals certain requirements governing the termination date of a defined benefit pension plan of an employee in cases of an employer filing for bankruptcy. Requires the Pension Benefit Guaranty Corporation (PBGC), with regard to single-employer plan guaranteed benefits in the case of commercial airline pilots required by Federal Aviation Administration (FAA) regulation to retire before age 65, to compute the actuarial value of monthly benefits in the form of a life annuity commencing at the required retirement age. Revises requirements to: (1) limit the amount a fiduciary may recover in actions against third parties (Pro-Rata Recovery) to enforce the terms of defined benefit plans on behalf of plan participants or beneficiaries; (2) prohibit the post-retirement reduction of retiree health benefits by group health plans; and (3) establish the Emergency Retiree Health Loan Guarantee Program. Modifies requirements with respect to: (1) crediting and termination of surcharges in connection with multiemployer pension plans in critical status upon adoption of rehabilitation plan; and (2) funding rules for multiemployer pension plans. Requires certain adjustments to determinations of the value of single-employer pension plan assets that are based on the averaging of fair market values (asset smoothing). Prohibits certain payments of benefits from single-employer pension plans that have an adjusted funding target attainment percentage of less than 80% for the year. Applies certain age discrimination safe harbor rules under ERISA and the Age Discrimination in Employment Act of 1967 to civil actions brought on or after April 25, 2007, alleging any age discrimination violation occurring before June 29, 2005, with respect to any benefit provided under the Young Women's Christian Association Pension Plan. Exempts transactions involving the sale of employer securities held in a pension plan account from certain fiduciary requirements under specified conditions. Revises requirements with respect to: (1) special funding rules for at-risk pension plans for employees offered early retirement in 2007; and (2) pension plan funding target determinations. Treats employees of certain cooperatives as affiliated service group employees for purposes of single employer pension plans. Revises requirements regarding: (1) parties in interest affected by the prohibited transaction exemption for block trading; and (2) the scope of the prohibited transaction exemption for electronic communication. Increases bonding requirements for fiduciaries of pension plans primarily invested in employer securities.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

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What does this mean? (plain words)

Official text

Pension Protection Act ERISA Amendments of 2008

Source: Congressional Research Service summary (Introduced in House)

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Andrews, Robert E. [D-NJ-1] · 7 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Mazie K. Hirono (D-HI)

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (3)

Exemption: A rule that removes certain people, property or activities from a tax or requirement.
Rulemaking: The process agencies use to write regulations that carry out laws passed by Congress or a legislature. Usually an agency publishes a proposed rule, takes public comments, then publishes a final rule.
Securities: Financial investments that can be bought and sold, such as stocks and bonds.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in House)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-110hr6143.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/110/hr>

Record fed-us-cong110-hr6143 · catalog fed-us-congress-bills-cong110 · updated 2026-11-15 by psicol fed-bills-cong110