To amend title IV of the Employee Retirement Income Security Act of 1974 to provide for a guarantee by the Pension Benefit Guaranty Corporation for qualified preretirement survivor annuities under insolvent or terminated multiemployer pension plans.

Amends the Employee Retirement Income Security Act of 1974 (ERISA) to declare that a qualified preretirement survivor annuity with respect to a participant under a multiemployer plan which becomes insolvent or is terminated shall not be treated as forfeitable solely because the participant has not died as of the date on which the plan became so insolvent or the termination date. (Thus guarantees, in the absence of other disqualifying factors, the payment by the Pension Benefit Guaranty Corporation [PBGC] of a qualified preretirement survivor annuity to a participant of a multiemployer pension plan which becomes insolvent or is terminated.)

[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 566 Introduced in House (IH)]

113th CONGRESS
  1st Session
                                H. R. 566

  To amend title IV of the Employee Retirement Income Security Act of 
    1974 to provide for a guarantee by the Pension Benefit Guaranty 
   Corporation for qualified preretirement survivor annuities under 
          insolvent or terminated multiemployer pension plans.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            February 6, 2013

Mr. Petri (for himself and Mr. Andrews) introduced the following bill; 
   which was referred to the Committee on Education and the Workforce

_______________________________________________________________________

                                 A BILL


 
  To amend title IV of the Employee Retirement Income Security Act of 
    1974 to provide for a guarantee by the Pension Benefit Guaranty 
   Corporation for qualified preretirement survivor annuities under 
          insolvent or terminated multiemployer pension plans.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. GUARANTEE FOR PRE-RETIREMENT SURVIVOR ANNUITIES UNDER 
              MULTIEMPLOYER PENSION PLANS.

    (a) In General.--Section 4022A(b) of the Employee Retirement Income 
Security Act of 1974 (29 U.S.C. 1322a(b)) is amended by adding at the 
end the following new paragraph:
    ``(3) For purposes of subsection (a), a qualified preretirement 
survivor annuity (as defined in section 205(e)(1)) with respect to a 
participant under a multiemployer plan which becomes insolvent under 
section 4245(b) or 4281(d)(2) or is terminated shall not be treated as 
forfeitable solely because the participant has not died as of the date 
on which the plan became so insolvent or the termination date.''.
    (b) Retroactive Application.--The amendment made by this section 
shall apply with respect to multiemployer plan benefit payments 
becoming payable on or after December 31, 1984.
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