II 

118TH CONGRESS 

2D SESSION S. 4328 

To require any labor organization that is or would be the collective bargaining 

representative for any employees to provide information regarding the 

amount of funds in any defined benefit plan of the labor organization 

before any labor organization election, and for other purposes. 

IN THE SENATE OF THE UNITED STATES 

MAY 14, 2024 

Mr. CASSIDY introduced the following bill; which was read twice and referred 

to the Committee on Health, Education, Labor, and Pensions 

A BILL 

To require any labor organization that is or would be the 

collective bargaining representative for any employees to 

provide information regarding the amount of funds in 

any defined benefit plan of the labor organization before 

any labor organization election, and for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Making All Fund In5 formation Available Act’’. 


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1 SEC. 2. REQUIREMENT FOR LABOR ORGANIZATIONS TO 

2 PROVIDE INFORMATION REGARDING DE3 FINED BENEFIT PLANS BEFORE ANY LABOR 

4 ORGANIZATION ELECTION. 

5 (a) DEFINITIONS.—In this Act: 

6 (1) BENEFICIARY.—The term ‘‘beneficiary’’ has 

7 the meaning given the term in section 3 of the Em8 ployee Retirement Income Security Act of 1974 (29 

9 U.S.C. 1002). 

10 (2) DEFINED BENEFIT PLAN.—The term ‘‘de11 fined benefit plan’’ has the meaning given the term 

12 in such section of such Act (29 U.S.C. 1002). 

13 (3) EMPLOYEE, EMPLOYER.—The terms ‘‘em14 ployee’’ and ‘‘employer’’ have the meanings given 

15 such terms in section 2 of the National Labor Rela16 tions Act (29 U.S.C. 152). 

17 (4) LABOR ORGANIZATION.—The term ‘‘labor 

18 organization’’ has the meaning given the term in 

19 such section of such Act (29 U.S.C. 152). 

20 (5) LABOR ORGANIZATION ELECTION.—The 

21 term ‘‘labor organization election’’ means any elec22 tion described in section 9 of the National Labor Re23 lations Act (29 U.S.C. 159), including an election 

24 for decertification described in subsection (e) of such 

25 section. 


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1 (6) PARTICIPANT.—The term ‘‘participant’’ has 

2 the meaning given the term in section 3 of the Em3 ployee Retirement Income Security Act of 1974 (29 

4 U.S.C. 1002). 

5 (b) REQUIREMENT TO PROVIDE CERTAIN INFORMA6 TION REGARDING A DEFINED BENEFIT PLAN.— 

7 (1) IN GENERAL.—A labor organization that is 

8 the representative of employees of an employer for 

9 purposes of collective bargaining in accordance with 

10 section 9(a) of the National Labor Relations Act (29 

11 U.S.C. 159(a)) during a labor organization election, 

12 or that would become such a representative of such 

13 employees after a labor organization election, shall— 

14 (A) not fewer than 3 days before the date 

15 of such labor organization election, provide to 

16 such employees the notice described in para17 graph (2) regarding any defined benefit plan 

18 that is or would be available for enrollment by 

19 the employees because of representation by the 

20 labor organization for purposes of collective 

21 bargaining; and 

22 (B) in the case of such a defined benefit 

23 plan that has a percentage of plan liabilities de24 scribed in paragraph (2)(A)(i) that is less than 

25 100 percent, provide to such employees access 


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1 to a financial expert (described in paragraph 

2 (3)) who is, for the 3 days immediately pre3 ceding the date of such labor organization elec4 tion, able to answer questions regarding such 

5 defined benefit plan. 

6 (2) NOTICE.— 

7 (A) IN GENERAL.—The notice described in 

8 this paragraph is a statement that, with respect 

9 to a defined benefit plan described in paragraph 

10 (1)(A), provides— 

11 (i) the percentage of plan liabilities 

12 funded, calculated as the ratio between the 

13 value of the plan’s assets and liabilities, as 

14 of the end of the most recently completed 

15 plan year; 

16 (ii) in the case of an employee who is 

17 not a participant in a defined benefit plan 

18 described in paragraph (1)(A), the percent19 age of each dollar of contribution by the 

20 employee, if the employee enrolls in such a 

21 plan, that— 

22 (I) would be used to provide ben23 efits to the employee (or a beneficiary 

24 of the employee); and 


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1 (II) would be used to provide 

2 benefits to participants of the defined 

3 benefit plan (or their beneficiaries) 

4 who are enrolled as of the date on 

5 which the labor organization election 

6 described in paragraph (1) occurs; 

7 and 

8 (iii) in the case of a percentage of 

9 plan liabilities described in clause (i) that 

10 is less than 100 percent— 

11 (I) the ratio between the esti12 mated monthly benefit that a partici13 pant or beneficiary would receive at 

14 normal retirement age under the de15 fined benefit plan and the estimated 

16 monthly benefit that a participant or 

17 beneficiary would receive at normal 

18 retirement age under the defined ben19 efit plan if such percentage of plan li20 abilities was 100 percent; and 

21 (II) the estimated amount of the 

22 monthly benefit amount that would be 

23 paid by the Pension Benefit Guaranty 

24 Corporation if the plan is terminated 


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1 with insufficient assets to pay bene2 fits. 

3 (B) INFORMATION PROVIDED IN AN AN4 NUAL REPORT.—The notice described in sub5 paragraph (A) may quote, in plain language, 

6 from the most recently filed annual report pro7 vided to the Secretary of Labor or the Pension 

8 Benefit Guaranty Corporation under section 

9 104 or 4065 of the Employee Retirement In10 come Security Act of 1974 (29 U.S.C. 1024, 

11 1365) with respect to the defined benefit plan 

12 described in paragraph (1)(A). 

13 (3) FINANCIAL EXPERT.—A financial expert 

14 provided by a labor organization in accordance with 

15 paragraph (1)(B)— 

16 (A) shall be— 

17 (i) independent from the defined ben18 efit plan described in paragraph (1)(A) 

19 and the labor organization; and 

20 (ii) provided at no cost to the employ21 ees; 

22 (B) may not be compensated using any as23 sets of the defined benefit plan. 

24 (4) AVAILABILITY OF MATERIALS AFTER ELEC25 TION.— 


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1 (A) IN GENERAL.—Not later than 30 days 

2 after a labor organization election described in 

3 paragraph (1), a labor organization shall pro4 vide to the Office of Labor-Management Stand5 ards all written materials (including the notice 

6 provided under paragraph (1)(A)), instructions, 

7 or handouts provided to employees with respect 

8 to the requirements of this Act. 

9 (B) PUBLIC AVAILABILITY.—Not later 

10 than 30 days after receiving any written mate11 rials, instructions, or handouts under subpara12 graph (A), the Office of Labor-Management 

13 Standards shall make such materials, instruc14 tions, or handouts publicly available on the 

15 website of the Office of Labor-Management 

16 Standards. 

17 (c) ENFORCEMENT.— 

18 (1) CRIMINAL PENALTIES FOR MISLEADING OR

19 FALSE STATEMENTS.— 

20 (A) OFFENSE.—It shall be unlawful for 

21 any person to lie to or mislead an employee in 

22 any notice provided under subsection (b)(1)(A) 

23 or with respect to any answers provided under 

24 subsection (b)(1)(B). 


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1 (B) PENALTY.—Any person who violates 

2 subparagraph (A) shall be fined under title 18, 

3 United States Code, imprisoned for not more 

4 than 5 years, or both. 

5 (2) PRIVATE RIGHT OF ACTION.—Any employee 

6 who is adversely affected by an alleged violation of 

7 subsection (b) may commence a civil action against 

8 any person that violates such section in any court of 

9 competent jurisdiction for actual damages. The court 

10 may award costs and expenses, including attorney’s 

11 fees, to an employee in a prevailing action under this 

12 paragraph. 

13 (3) REFERRAL.—If the Assistant Secretary of 

14 Labor for Employee Benefits Security obtains evi15 dence that any person has engaged in conduct that 

16 may constitute a violation of paragraph (1)(A), the 

17 Assistant Secretary shall— 

18 (A) refer the matter to the Attorney Gen19 eral for prosecution under such paragraph; and 

20 (B) provide such evidence to the National 

21 Labor Relations Board. 

22 (4) ENFORCEMENT BY THE NLRB.—Section 9 

23 of the National Labor Relations Act (29 U.S.C. 

24 159) is amended by adding at the end the following: 


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1 ‘‘(f) In any case in which the Board determines that 

2 the results of an election under this section were influ3 enced by conduct that may constitute a violation of section 

4 2(c)(1)(A) of the Making All Fund Information Available 

5 Act or that a labor organization that is, or would become, 

6 the representative of employees after such an election vio7 lated section 2(b)(1) of such Act— 

8 ‘‘(1) the election shall be invalid; 

9 ‘‘(2) the Board shall set aside the results of 

10 such election; and 

11 ‘‘(3) a new election may not be held unless the 

12 Assistant Secretary of Labor for Employee Benefits 

13 Security determines that the labor organization has 

14 fulfilled the requirements of section 2(b)(1) of such 

15 Act.’’. 

Æ 


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