S. 1544: Pension Benefit Guaranty Corporation Governance Improvement Act of 2009

111th Congress · introduced 2009-07-30 · Labor and Employment · Latest: Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

federal

Follow this bill, step by step

Where it came from: introduced 2009-07-30 · official record
Who proposed it: Sen. Kohl, Herb [D-WI] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Read twice and referred to the Committee on Health, Education, Labor, and Pensions. 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 Benefit Guaranty Corporation Governance Improvement Act of 2009

Plain summary

Pension Benefit Guaranty Corporation Governance Improvement Act of 2009 - Amends the Employee Retirement Income Security Act of 1974 (ERISA) to revise requirements regarding the composition and duties of members of the board of directors of the Pension Benefit Guaranty Corporation (PBGC). Requires: (1) the board to meet at least four times a year with a quorum of at least five members; and (2) board minutes be made public. Requires the advisory committee to the PBGC to meet jointly with the board at least one time each year. Requires the Director and members of the board of the PBGC to agree in writing to recuse themselves from participation in activities which potentially could be a conflict of interest. Expresses the sense of Congress that: (1) the board should form committees, including an audit committee and an investment committee, to enhance the PBGC board's overall effectiveness; and (2) the PBGC should establish a risk management position that evaluates and mitigates risk it might experience.

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

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Pension Benefit Guaranty Corporation Governance Improvement Act of 2009

Source: Congressional Research Service summary (Introduced in Senate)

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The strongest published arguments

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Alternatives

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

Officials and money

Sponsor: Sen. Kohl, Herb [D-WI] · 3 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Michael F. Bennet (D-CO)

Agencies named in this bill

Pension Benefit Guaranty Corporation: its federal spending and other bills that name it

Found automatically: the agency's full official name appears in the bill title. A bill can affect agencies it does not name, so this list may be incomplete.

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 (2)

Quorum: The minimum number of members who must be present for a body to do official business.
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 Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-111s1544.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/111/s>

Record fed-us-cong111-s1544 · catalog fed-us-congress-bills-cong111 · updated 2026-11-15 by psicol fed-bills-cong111