Keep Estimated Extra Payments Act

Bill: 114-s-2741
Sponsor: full_name: Sen. Brown, Sherrod [D-OH]
Introduced: 2016-04-04
Policy area: Labor and Employment
Subjects: Employee benefits and pensions
Latest action: action_date: 2016-04-04
text: Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

Summaries:
action_date: 2016-04-04
action_desc: Introduced in Senate
text: <p><b>Keep Estimated Extra Payments Act </b></p> <p>This bill amends the Employee Retirement Income Security Act of 1974 (ERISA) to permit the Pension Benefit Guaranty Corporation (PBGC) and the Department of Labor to elect not to recoup overpayments of benefits to participants in multiemployer and single employer pension plans. </p> <p>(The PBGC is a federal government agency created by ERISA to protect the pensions of participants and beneficiaries covered by private-sector, defined benefit pension plans.) </p>

tv_txt: II 114th CONGRESS 2d Session S. 2741 IN THE SENATE OF THE UNITED STATES April 4, 2016 Mr. Brown 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 permit the Pension Benefit Guaranty Corporation and the Secretary of Labor to elect not to recoup benefits overpayments.

1. Short title This Act may be cited as the Keep Estimated Extra Payments Act . 2. Authority to elect not to recoup benefits overpayments Section 4022B of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1322b ) is amended by adding at the end the following: (c) Authority To elect not To recoup benefits overpayments The Pension Benefit Guaranty Corporation and the Secretary of Labor may elect not to recoup benefits overpayments made to a participant under this title. .