Susan Muffley Act of 2022
This bill restores the full vested monthly benefits for eligible participants of certain pension plans that were sponsored by Delphi Corporation and terminated as a result of General Motors' bankruptcy in 2009.
The Pension Benefit Guaranty Corporation (PBGC) must recalculate and adjust each plan participant's monthly benefits payment. The PBGC must also apply the recalculation to previously-made monthly payments and make a lump-sum payment for any additional benefits based on the recalculation.
The bill establishes and provides appropriations to a fund for the payment of these benefits and specifies how the lump-sum payments are treated for tax purposes.
Finally, the bill requires the PBGC to report on recommendations to ensure the long-term solvency of its insurance programs.
Susan Muffley Act of 2022
This bill restores the full vested monthly benefits for eligible participants of certain pension plans that were sponsored by Delphi Corporation and terminated as a result of General Motors' bankruptcy in 2009.
The Pension Benefit Guaranty Corporation (PBGC) must recalculate and adjust each plan participant's monthly benefits payment. The PBGC must also apply the recalculation to previously-made monthly payments and make a lump-sum payment for any additional benefits based on the recalculation.
The bill establishes and provides appropriations to a fund for the payment of these benefits and specifies how the lump-sum payments are treated for tax purposes.
CR H7211-7220; text: CR H7211-7212)
3771, H.R. 5118 and H.R. 6929. Rule provides for consideration under structured rules for H.R. 3771, H.R. 5118 and H.R. 6929, and provides for one hour of general debate on each bill.
1254, the House proceeded with 10 minutes of debate on the Scott (VA) Part E amendment.
On passage Passed by the Yeas and Nays: 254 - 175 (Roll no. 396).
254 - 175 (Roll no. 396).
Res. 1254 Reported to House. Rule provides for consideration of H.R. 3771, H.R. 5118 and H.R. 6929. Rule provides for consideration under structured rules for H.R. 3771, H.R. 5118 and H.R. 6929, and provides for one hour of general debate on each bill.
Res. 1254 passed House.