‘‘(4) the loan to be guaranteed will materially 
assist that eligible plan sponsor to discharge its obli-
gation to comply with the restoration of benefits re-
quirements contained in section 803; and 
‘‘(5) the eligible plan sponsor has agreed to an 
audit by the Government Accountability Office prior 
to the issuance of the loan guarantee and annually 
while any such guaranteed loan is outstanding. 
‘‘(f) TERMS
AND CONDITIONS
OF LOAN GUAR-
ANTEE.— 
‘‘(1) LOAN
DURATION.—All loans guaranteed 
under this section shall be payable in full not later 
than December 31, 2021, and the terms and condi-
tions of each such loan shall provide that the loan 
may not be amended or any provision thereof waived 
without the consent of the Board. 
‘‘(2) LOAN
SECURITY.—Any commitment to 
issue a loan guarantee under this section shall con-
tain such affirmative and negative covenants and 
other protective provisions that the Board deter-
mines are appropriate. 
‘‘(3) FEES.—An eligible plan sponsor receiving 
a guarantee under this section shall pay a fee in an 
amount equal to 0.5 percent of the outstanding prin-
VerDate Mar 15 2010 
00:49 Jun 22, 2013
Jkt 029200
PO 00000
Frm 00023
Fmt 6652
Sfmt 6201
E:\BILLS\H2425.IH
H2425
pwalker on DSK7TPTVN1PROD with BILLS
cipal balance of the guaranteed loan to the Depart-
ment of the Treasury. 
‘‘(g) REPORTS
TO CONGRESS.—The Secretary of 
Labor shall submit annually to each House of the Con-
gress a full report of the activities of the Board under 
this section during 2014 and 2015, and annually there-
after during such period as any loan guaranteed under 
this section is outstanding. Such report shall be submitted 
not later than January 31 of each year (beginning in 
2014). 
‘‘(h) SALARIES AND ADMINISTRATIVE EXPENSES.— 
For necessary expenses to administer the Program, there 
is authorized to be appropriated to the Department of 
Labor (and to be transferred to the Office of the Assistant 
Secretary for Pension and Welfare Benefits Administra-
tion) $10,000,000, to remain available until expended. 
‘‘(i) TERMINATION OF GUARANTEE AUTHORITY.— 
The authority of the Board to make commitments to guar-
antee any loan under this section shall terminate on De-
cember 31, 2019. 
‘‘(j) REGULATORY ACTION.—The Board shall issue 
such final procedures, rules, and regulations as may be 
necessary to carry out this section not later than 90 days 
after the date of enactment of the Earned Retiree 
Healthcare Benefits Protection Act of 2013. In no event 
VerDate Mar 15 2010 
00:49 Jun 22, 2013
Jkt 029200
PO 00000
Frm 00024
Fmt 6652
Sfmt 6201
E:\BILLS\H2425.IH
H2425
pwalker on DSK7TPTVN1PROD with BILLS
shall the Board issue a procedure, rule, or regulation 
which authorizes it to approve or deny any application for 
a loan guarantee in more than 270 days after receipt of 
such application. 
‘‘SEC. 806. EFFECT ON OTHER CLAIMS. 
‘‘(a) OTHER CLAIMS UNAFFECTED.—Nothing in this 
part shall be construed to alter, impair, or eliminate any 
claim for retiree health benefits based on conduct alleged 
to violate the terms of a group health plan, any provision 
of this Act (other than this part), or both, regardless of 
whether such conduct occurred prior to, on, or after the 
date of the enactment of the Earned Retiree Healthcare 
Benefits Protection Act of 2013. 
‘‘(b) OTHER CAUSES
OF ACTION NOT AUTHOR-
IZED.—Nothing contained in this part shall be construed 
to authorize any action for recovery of retiree health bene-
fits unless the conduct giving rise to the claim for recovery 
is alleged to violate the provisions of this part. 
‘‘SEC. 807. REGULATIONS. 
‘‘The Secretary may promulgate such regulations as 
may be necessary to carry out the provisions of this part. 
The Secretary may promulgate any interim final rules as 
the Secretary deems are appropriate to carry out this 
part.’’. 
VerDate Mar 15 2010 
00:49 Jun 22, 2013
Jkt 029200
PO 00000
Frm 00025
Fmt 6652
Sfmt 6201
E:\BILLS\H2425.IH
H2425
pwalker on DSK7TPTVN1PROD with BILLS
(b) CIVIL PENALTY.—Section 502(c) of the Em-
ployee Retirement Income Security Act of 1974 (29 
U.S.C. 1132(c)) is amended— 
(1) by redesignating the second paragraph (10) 
(relating to consultation between the Secretary of 
Labor and the Secretary of Health and Human 
Services) as paragraph (12); and 
(2) by inserting after the first paragraph (10) 
the following new paragraph: 
‘‘(11) The Secretary may assess any person a civil 
penalty of not more than $20,000 with respect to each 
failure by such person to meet the requirements of section 
801, 802, or 803 with respect to each participant or bene-
ficiary aggrieved by such failure.’’. 
(c) CONFORMING AMENDMENT.—The table of con-
tents in section 1 of such Act is amended by inserting 
after the item relating to section 734 the following new 
items: 
‘‘PART 8—EMERGENCY RETIREE HEALTH BENEFIT PROTECTIONS 
‘‘Sec. 801. Prohibition against post-retirement reductions of retiree health ben-
efits by group health plans. 
‘‘Sec. 802. Adoption by group health plans of provision barring post-retirement 
reductions in retiree health benefits. 
‘‘Sec. 803. Restoration by group health plans of benefits reduced after retire-
ment. 
‘‘Sec. 804. Exemption from restoration of benefits requirements. 
‘‘Sec. 805. Establishment of emergency retiree health loan guarantee program. 
‘‘Sec. 806. Effect on other claims. 
‘‘Sec. 807. Regulations.’’. 
VerDate Mar 15 2010 
00:49 Jun 22, 2013
Jkt 029200
PO 00000
Frm 00026
Fmt 6652
Sfmt 6211
E:\BILLS\H2425.IH
H2425
pwalker on DSK7TPTVN1PROD with BILLS
SEC. 4. EFFECTIVE DATE. 
The amendments made by this Act shall take effect 
on the date of the enactment of this Act, except that sec-
tion 802 of the Employee Retirement Income Security Act 
of 1974 (as added by section 3 of this Act) shall apply 
with respect to plan years beginning after 180 days after 
the date of the enactment of this Act. Compliance with 
the requirements of part 8 of subtitle B of title I of the 
Employee Retirement Income Security Act of 1974 with 
respect to a group health plan shall not be treated as a 
failure to comply with the terms of such plan. 
Æ 
VerDate Mar 15 2010 
00:49 Jun 22, 2013
Jkt 029200
PO 00000
Frm 00027
Fmt 6652
Sfmt 6301
E:\BILLS\H2425.IH
H2425
pwalker on DSK7TPTVN1PROD with BILLS