Rehabilitation for Multiemployer Pensions Act of 2019
Sponsor: RICHARD NEAL (D-MA)
Rehabilitation for Multiemployer Pensions Act of 2019 This bill establishes the Pension Rehabilitation Administration within the Department of the Treasury and a related trust fund to make loans to certain multiemployer defined benefit pension plans. To receive a loan, a plan must be (1) in critical and declining status, including any plan with respect to which a suspension of benefits has been approved; (2) in critical status, have a modified funded percentage of less than 40%, and have a ratio of active to inactive participants which is less than two to five; or (3) insolvent, if the plan became insolvent after December 16, 2014, and has not been terminated. Treasury must transfer amounts, which may include proceeds from bonds and other obligations, from the general fund to the trust fund established by this bill as necessary to fund the program.
Labor and Employment Topic assigned by the Congressional Research Service.
Who won, and how much of the country was behind them
The dotted gap is 0.5% of U.S. adults whose member did not vote, voted “present,” or whose seat was vacant.
| Side | Outcome | Votes | Share of U.S. adults |
|---|---|---|---|
| Yea | Won | 264 | 60.2% |
| Nay | Lost | 169 | 39.3% |
| Not represented on this question | No position taken | 0 | 0.5% |