I 
110TH CONGRESS 
2D SESSION 
H. R. 5754 
To amend the Employee Retirement Income Security Act of 1974 and title 
11, United State Code, to provide necessary reforms for employee pension 
benefit plans. 
IN THE HOUSE OF REPRESENTATIVES 
APRIL 9, 2008 
Mr. VISCLOSKY introduced the following bill; which was referred to the Com-
mittee on Education and Labor, and in addition to the Committee on the 
Judiciary, for a period to be subsequently determined by the Speaker, in 
each case for consideration of such provisions as fall within the jurisdic-
tion of the committee concerned 
A BILL 
To amend the Employee Retirement Income Security Act 
of 1974 and title 11, United State Code, to provide 
necessary reforms for employee pension benefit plans. 
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 ‘‘Employees’ Pension 
Security Act of 2008’’. 
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TITLE I—TRUSTEESHIP OF 
SINGLE-EMPLOYER PLANS 
SEC. 101. REQUIREMENTS RELATING TO TRUSTEESHIP OF 
SINGLE-EMPLOYER PLANS. 
(a) IN GENERAL.—Section 403(a) of the Employee 
Retirement Income Security Act of 1974 (29 U.S.C. 
1103(a)) is amended— 
(1) by redesignating paragraphs (1) and (2) as 
subparagraphs (A) and (B), respectively; 
(2) by inserting ‘‘(1)’’ after ‘‘(a)’’; and 
(3) by adding at the end the following new 
paragraph: 
‘‘(2)(A) The assets of a pension plan which is a sin-
gle-employer plan shall be held in trust by a joint board 
of trustees, which shall consist of two or more trustees 
representing on an equal basis the interests of the em-
ployer or employers maintaining the plan and the interests 
of the participants and their beneficiaries. 
‘‘(B)(i) Except as provided in clause (ii), in any case 
in which the plan is maintained pursuant to one or more 
collective bargaining agreements between one or more em-
ployee organizations and one or more employers, the trust-
ees representing the interests of the participants and their 
beneficiaries pursuant to subparagraph (A) shall be des-
ignated by such employee organizations. 
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‘‘(ii) Clause (i) shall not apply with respect to a plan 
described in such clause if the employee organization (or 
all employee organizations, if more than one) referred to 
in such clause file with the Secretary, in such form and 
manner as shall be prescribed in regulations of the Sec-
retary, a written waiver of their rights under clause (i). 
‘‘(iii) In any case in which clause (i) does not apply 
with respect to a pension plan which is a single-employer 
plan because the plan is not described in clause (i) or be-
cause of a waiver filed pursuant to clause (ii), the trustee 
or trustees representing the interests of the participants 
and their beneficiaries shall consist of one or more partici-
pants under the plan elected to serve as such in accord-
ance with this clause. The Secretary shall provide by regu-
lation for a secret ballot of the participants under the plan 
for purposes of such election, and for certification of the 
results thereof to the participants (and any employee orga-
nization referred to in clause (ii)) and to the employer.’’. 
(b) CONFORMING AMENDMENTS.—Section 403(a)(1) 
of such Act (as redesignated under subsection (a)) is 
amended— 
(1) by striking ‘‘Such trustee or trustees’’ and 
inserting ‘‘Except as provided in paragraph (2), such 
trustee or trustees’’; 
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