H.R. 409: Emergency Pension Plan Relief Act of 2021

117th Congress · introduced 2021-01-21 · Labor and Employment · Latest: Referred to the Committee on Education and Labor, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

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Follow this bill, step by step

Where it came from: introduced 2021-01-21 · official record
Who proposed it: Rep. Neal, Richard E. [D-MA-1] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Referred to the Committee on Education and Labor, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. 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

Emergency Pension Plan Relief Act of 2021

Plain summary

Emergency Pension Plan Relief Act of 2021 This bill modifies the funding rules and provides financial assistance for certain pension plans that are underfunded or insolvent. First, the bill expands the authority of, and provides funding for, the Pension Benefit Guaranty Corporation (PBGC) to provide special partition assistance to a multiemployer pension plan that is insolvent or at risk of insolvency. The bill expands eligibility for partition assistance, provides funding for a plan to reach a projected funded ratio of 80% over a 30-year period, and does not require a plan to repay such assistance. The bill further permits a multiemployer pension plan to elect to retain its funding zone status from the previous year for either (1) the first plan year beginning during the period from March 1, 2020, through February 28, 2021; or (2) the next succeeding plan year, as designated by the plan sponsor. A plan may also extend by five years the funding improvement or rehabilitation period if the plan is designated as in endangered or critical status for a plan year beginning in 2020 or 2021. A plan in critical and declining status may not suspend payment of plan benefits. Additionally, the bill adjusts the minimum funding standards for a multiemployer pension plan to account for investment losses and other losses related to the COVID-19 pandemic and modifies the PBGC guarantee formula to increase the maximum potential benefits under a multiemployer pension plan. Finally, the bill makes changes with respect to single employer pension plans, including revising the amortization rules and extending and modifying the pension funding stabilization percentages.

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

Emergency Pension Plan Relief Act of 2021

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. Neal, Richard E. [D-MA-1] · 17 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Danny K. Davis (D-IL), John B. Larson (D-CT), Terri A. Sewell (D-AL), Suzan K. DelBene (D-WA), Thomas R. Suozzi (D-NY), Linda T. Sánchez (D-CA), Bradley Scott Schneider (D-IL), Gwen Moore (D-WI), Mike Thompson (D-CA), Dwight Evans (D-PA), Adam Smith (D-WA), Debbie Dingell (D-MI), Mary Gay Scanlon (D-PA)

Sponsor's campaign money: Rep. Neal, Richard E. [D-MA-1] reported raising $3.1 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 (2)

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).
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.

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-117hr409.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/117/hr>

Record fed-us-cong117-hr409 · catalog fed-us-congress-bills-cong117 · updated 2026-11-15 by psicol fed-bills-cong117