December 2008 Bulletin, "Pension Relief Bill’s Provisions Affecting Multiemployer Plans"

Abstract

On December 11, 2008, the Senate passed HR 7327, the Worker, Retiree and Employer Recovery Act of 2008, a bill providing emergency pension funding relief, which the House of Representatives had passed the previous night. President Bush is expected to sign the bill into law. When it becomes law, the bill will introduce short-term, limited funding relief for pension plans, including multiemployer plans, that are subject to the Employee Retirement Income Security Act of 1974. The bill also includes some technical corrections to the Pension Protection Act of 2006. This Bulletin summarizes the principal multiemployer provisions of the bill.

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