II 

118TH CONGRESS 

2D SESSION S. 3682 

To amend the Employee Retirement Income Security Act of 1974 to clarify 

the obligation of the Pension Benefit Guarantee Corporation to reclaim 

any overpayment of special financial assistance payment under the American Rescue Plan Act of 2021, including amounts paid on behalf of 

a deceased participant or beneficiary, and for other purposes. 

IN THE SENATE OF THE UNITED STATES 

JANUARY 30, 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 amend the Employee Retirement Income Security Act 

of 1974 to clarify the obligation of the Pension Benefit 

Guarantee Corporation to reclaim any overpayment of 

special financial assistance payment under the American 

Rescue Plan Act of 2021, including amounts paid on 

behalf of a deceased participant or beneficiary, 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 ‘‘Ghost Handouts and 

5 Overpayments Stop Today Act’’ or the ‘‘GHOST Act’’. 


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1 SEC. 2. FINDINGS. 

2 Congress finds the following: 

3 (1) The Pension Benefit Guaranty Corporation 

4 has the authority and responsibility to recover tax5 payer funded benefits disbursed by the corporation 

6 in error, including any amount disbursed to fund 

7 benefits for participants or beneficiaries who are de8 ceased as of the date of the disbursement. 

9 (2) The Pension Benefit Guaranty Corporation 

10 is obligated to ensure, through strong accounting 

11 processes and controls and using the resources avail12 able (and should follow procedures recommended by 

13 the Office of the Inspector General and verify census 

14 data for multiemployer plans that will receive or 

15 have received special financial assistance), that tax16 payer money is not wasted. 

17 (3) The Pension Benefit Guaranty Corporation 

18 is obligated to audit, investigate, and resolve any 

19 discrepancies in census data for all special financial 

20 assistance plans, including through matching data 

21 for participants and beneficiaries to data that re22 sides in the Social Security Administration’s Death 

23 Master File. 

24 (4) Multiemployer plans are obligated to remit 

25 to the Pension Benefit Guaranty Corporation, and 

26 the corporation is obligated to take all steps necVerDate Sep 11 2014 23:09 Feb 01, 2024 Jkt 049200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\S3682.IS S3682

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1 essary to ensure full recovery of, the amount of any 

2 special financial assistance payment made to a mul3 tiemployer plan as a result of an error and the 

4 amount of any special financial assistance payment 

5 attributable to any deceased participants or bene6 ficiaries, and the associated earnings thereon. 

7 SEC. 3. RECOVERY OF OVERPAYMENTS. 

8 (a) IN GENERAL.—Section 4262 of the Employee Re9 tirement Income Security Act of 1974 (29 U.S.C. 1104) 

10 is amended by adding at the end the following: 

11 ‘‘(o) RECOVERY.— 

12 ‘‘(1) IN GENERAL.—If the corporation makes a 

13 determination that an overpayment of special finan14 cial assistance, including an overpayment of special 

15 financial assistance described in paragraph (2)(A), 

16 was made under this section, the applicable multiem17 ployer plan (or a successor plan) shall pay, not later 

18 than 30 days after the date of such determination, 

19 to the corporation an amount equal to the total 

20 amount of overpayment of special financial assist21 ance to the applicable multiemployer plan, adjusted 

22 by the corporation for interest (using the interest 

23 rate used in determining the amount of special fi24 nancial assistance under subsection (e)(2)) for the 

25 period beginning on the date on which the special fiVerDate Sep 11 2014 23:09 Feb 01, 2024 Jkt 049200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6201 E:\BILLS\S3682.IS S3682

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1 nancial assistance was provided to such plan and 

2 ending on the date that such plan makes the pay3 ment required under this paragraph. 

4 ‘‘(2) RECOVERY IN CASE OF DECEASED PARTIC5 IPANT OR BENEFICIARY.— 

6 ‘‘(A) DETERMINATION.—Not later than 45 

7 days after the later of the date on which an 

8 audit conducted under subparagraph (B) is 

9 complete or the date on which the hearing de10 scribed in subparagraph (C) occurs, the cor11 poration shall make a determination of the total 

12 amount of special financial assistance paid to 

13 the applicable multiemployer plan on behalf of 

14 participants or beneficiaries determined to be 

15 deceased, which shall be deemed an overpay16 ment of special financial assistance. 

17 ‘‘(B) AUDIT.— 

18 ‘‘(i) IN GENERAL.—Not later than 6 

19 months after the date of enactment of this 

20 subsection or, in the case of an eligible 

21 multiemployer plan to which special finan22 cial assistance is provided under this sec23 tion after the date of enactment of this 

24 subsection, 6 months after the date on 

25 which such assistance is provided, the corVerDate Sep 11 2014 23:09 Feb 01, 2024 Jkt 049200 PO 00000 Frm 00004 Fmt 6652 Sfmt 6201 E:\BILLS\S3682.IS S3682

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1 poration shall audit the census data main2 tained by an eligible multiemployer plan to 

3 which such assistance was provided to de4 termine— 

5 ‘‘(I) whether any of such assist6 ance was provided on behalf of a par7 ticipant or beneficiary who was de8 ceased as of the date such assistance 

9 was provided; and 

10 ‘‘(II) the total amount of special 

11 financial assistance paid to such plan 

12 on behalf of participants or bene13 ficiaries described in subclause (I). 

14 ‘‘(ii) PROCESS.—In conducting an 

15 audit under clause (i), the corporation 

16 shall— 

17 ‘‘(I) follow a process rec18 ommended by the Office of the In19 spector General of the Pension Ben20 efit Guaranty Corporation, including 

21 the recommendations in the white 

22 paper issued by such Office entitled 

23 ‘Detecting Fraud and Improper Pay24 ments Involving Deceased Partici25 pants’ and dated March 9, 2018; and 


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1 ‘‘(II) match census data with the 

2 information on records of death main3 tained by the Social Security Adminis4 tration under section 205(r) of the 

5 Social Security Act (42 U.S.C. 

6 405(r)). 

7 ‘‘(iii) REVIEW.—The Office of the In8 spector General of the Pension Benefit 

9 Guaranty Corporation shall review an 

10 audit conducted under clause (i) prior to 

11 such audit being provided to an eligible 

12 multiemployer plan under paragraph (C). 

13 ‘‘(C) HEARING.— 

14 ‘‘(i) NOTICE.—Not later than 10 days 

15 after the completion of an audit under sub16 paragraph (B), the corporation shall pro17 vide to the eligible multiemployer plan (or 

18 a successor plan) the following informa19 tion: 

20 ‘‘(I) A list of participants or 

21 beneficiaries on behalf of whom assist22 ance was provided as described in sub23 paragraph (B)(i)(I). 


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1 ‘‘(II) The total amount of finan2 cial assistance paid as described in 

3 subparagraph (B)(i)(II). 

4 ‘‘(ii) HEARING.—The corporation 

5 shall provide an eligible employer plan with 

6 the opportunity for a hearing— 

7 ‘‘(I) which shall, unless extenu8 ating circumstances (as determined by 

9 the corporation) exist, occur not later 

10 than 60 days after the information de11 scribed in clause (i) is provided to the 

12 plan; and 

13 ‘‘(II) at which such plan may 

14 demonstrate that a participant or ben15 eficiary is alive. 

16 ‘‘(3) TRANSFER TO GENERAL FUND.—Any 

17 amount paid under paragraph (1), or any other pay18 ment that represents a voluntary return of a special 

19 financial assistance payment, shall be transferred to 

20 the general fund of the Treasury. 

21 ‘‘(p) PAYMENTS FROM APPLICABLE MULTIEM22 PLOYER PLANS.—The corporation shall accept any pay23 ment (including a payment required under subsection 

24 (o)(1)) made to such corporation by an eligible multiem25 ployer plan.’’. 


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1 (b) EFFECTIVE DATE.—The amendments made by 

2 this section shall apply with respect to overpayments of 

3 special financial assistance under section 4262 of the Em4 ployment Retirement Income Security Act (29 U.S.C. 

5 1104) occurring before, on, or after the date of enactment 

6 of this Act. 

Æ 


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