H.R. 2412: Keep Our Pension Promises Act

115th Congress · introduced 2017-05-11 · Labor and Employment · Latest: Referred to the Subcommittee on Regulatory Reform, Commercial And Antitrust Law.

federal

Follow this bill, step by step

Where it came from: introduced 2017-05-11 · official record
Who proposed it: Rep. Kaptur, Marcy [D-OH-9] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Referred to the Subcommittee on Regulatory Reform, Commercial And Antitrust Law. 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

Keep Our Pension Promises Act

Plain 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), with respect to partitions of eligible multiemployer plans, to modify the procedures and allow plan sponsors to petition the Pension Benefit Guaranty Corporation (PBGC) for a partition of additional financially-troubled pension plans. The PBGC must establish a legacy fund to cover the administrative and benefit costs resulting from a partition. The Department of the Treasury must transfer amounts to the fund that are equal to the increase in revenues as a result of specified provisions of this bill that amend the Internal Revenue Code. The provisions amend 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, and (3) limit contributions and require increased minimum distributions for individuals with certain retirement plans with balances that exceed $5 million (adjusted for inflation after 2017). The bill amends the federal bankruptcy code to assign first claim priority to pension obligations under ERISA.

Congressional Research Service summary (Introduced in House), 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

Keep Our Pension Promises Act

Source: Congressional Research Service summary (Introduced in House)

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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: Rep. Kaptur, Marcy [D-OH-9] · 33 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Rosa L. DeLauro (D-CT), Debbie Dingell (D-MI), Janice D. Schakowsky (D-IL), Eleanor Holmes Norton (D-DC), John Garamendi (D-CA), Paul Tonko (D-NY), Pramila Jayapal (D-WA), Gwen Moore (D-WI), Jamie Raskin (D-MD), Marc A. Veasey (D-TX), Hakeem S. Jeffries (D-NY), Betty McCollum (D-MN), Steve Cohen (D-TN), Henry C. "Hank" Johnson, Jr. (D-GA), Joyce Beatty (D-OH), Salud O. Carbajal (D-CA), Al Green (D-TX), Nydia M. Velázquez (D-NY), Chellie Pingree (D-ME)

Sponsor's campaign money: Rep. Kaptur, Marcy [D-OH-9] reported raising $5.9 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

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 (4)

Bill: A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
Exemption: A rule that removes certain people, property or activities from a tax or requirement.
Obligation: A binding promise by a government agency to pay money, for example by signing a contract or awarding a grant. Spending data such as USAspending.gov counts money when it is obligated, which can be before it is actually paid out.
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-115hr2412.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/115/hr>

Record fed-us-cong115-hr2412 · catalog fed-us-congress-bills-cong115 · updated 2026-11-15 by psicol fed-bills-cong115