I 
114TH CONGRESS 
1ST SESSION H. R. 4029 
To amend the Employee Retirement Income Security Act of 1974 and the 
Internal Revenue Code of 1986 with respect to participant votes on 
the suspension of benefits under multiemployer plans in critical and 
declining status. 
IN THE HOUSE OF REPRESENTATIVES 
NOVEMBER 17, 2015 
Mr. JOYCE (for himself and Mr. RYAN of Ohio) introduced the following bill; 
which was referred to the Committee on Education and the Workforce, 
and in addition to the Committee on Ways and Means, for a period to 
be subsequently determined by the Speaker, in each case for consider-
ation of such provisions as fall within the jurisdiction of the committee 
concerned 
A BILL 
To amend the Employee Retirement Income Security Act 
of 1974 and the Internal Revenue Code of 1986 with 
respect to participant votes on the suspension of benefits 
under multiemployer plans in critical and declining sta-
tus. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Pension Accountability 
Act’’. 
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SEC. 2. BENEFIT SUSPENSIONS FOR MULTIEMPLOYER 
PLANS IN CRITICAL AND DECLINING STATUS. 
(a) ERISA AMENDMENTS.—Section 305(e)(9)(H) of 
the Employee Retirement Income Security Act of 1974 
(29 U.S.C. 1085(e)(9)(H)) is amended— 
(1) in clause (ii)— 
(A) by striking ‘‘Except as provided in 
clause (v), the’’ and inserting ‘‘The’’; and 
(B) by striking ‘‘a majority of all partici-
pants and beneficiaries of the plan’’ and insert-
ing ‘‘, of the participants and beneficiaries of 
the plan who cast a vote, a majority’’; 
(2) by striking clause (v); 
(3) by redesignating clause (vi) as clause (v); 
and 
(4) in clause (v), as so redesignated— 
(A) by striking ‘‘(or following a determina-
tion under clause (v) that the plan is a system-
ically important plan)’’; and 
(B) by striking ‘‘(or, in the case of a sus-
pension that goes into effect under clause (v), 
at a time sufficient to allow the implementation 
of the suspension prior to the end of the 90-day 
period described in clause (v)(I))’’. 
(b) IRC AMENDMENTS.—Section 432(e)(9)(H) of the 
Internal Revenue Code of 1986 is amended— 
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(1) in clause (ii)— 
(A) by striking ‘‘Except as provided in 
clause (v), the’’ and inserting ‘‘The’’; and 
(B) by striking ‘‘a majority of all partici-
pants and beneficiaries of the plan’’ and insert-
ing ‘‘, of the participants and beneficiaries of 
the plan who cast a vote, a majority’’; 
(2) by striking clause (v); 
(3) by redesignating clause (vi) as clause (v); 
and 
(4) in clause (v), as so redesignated— 
(A) by striking ‘‘(or following a determina-
tion under clause (v) that the plan is a system-
ically important plan)’’; and 
(B) by striking ‘‘(or, in the case of a sus-
pension that goes into effect under clause (v), 
at a time sufficient to allow the implementation 
of the suspension prior to the end of the 90-day 
period described in clause (v)(I))’’. 
(c) EFFECTIVE DATE.—The amendments made by 
subsections (a) and (b) shall apply to any vote on the sus-
pension of benefits under section 305(e)(9)(H) of the Em-
ployee Retirement Income Security Act of 1974 (29 
U.S.C. 1085(e)(9)(H)) and section 432(e)(9)(H) of the 
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Internal Revenue Code of 1986 that occurs after the date 
of enactment of this Act. 
Æ 
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