Introduced in House Passed House Introduced in Senate Passed Senate To President Became Law
02/07/2020          

Airline Pilot Pension Fairness Act

Date Version PDF TXT
02/07/2020 Introduced in House Open
02/07/2020 Introduced in House Open

            




116 HR 5819 IH: Airline Pilot Pension Fairness Act
U.S. House of Representatives
2020-02-07
text/xml
EN
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I116th CONGRESS2d SessionH. R. 5819IN THE HOUSE OF REPRESENTATIVESFebruary 7, 2020Mr. Peters (for himself, Ms. Kaptur, Mr. Schiff, Ms. Norton, Ms. Schakowsky, Mr. Pocan, Mr. Ruppersberger, Mr. Welch, and Mr. McNerney) introduced the following bill; which was referred to the Committee on Education and LaborA BILLTo amend title IV of the Employee Retirement Income Security Act of 1974 to require the Pension Benefit Guaranty Corporation, in the case of airline pilots who are required by regulation to retire at age 60, to compute the actuarial value of monthly benefits in the form of a life annuity commencing at age 60.
1.
Short title
This Act may be cited as the Airline Pilot Pension Fairness Act.
2.
Age requirement for employees
(a)
Single-Employer plan benefits guaranteed
Section 4022(b)(3) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1322(b)(3)) is amended by inserting at the end the following: If, at the time of termination of a plan under this title, or at the time of freezing benefit accruals under a plan pursuant to subsections (a)(1) and (b) of section 402 of the Pension Protection Act of 2006, regulations prescribed by the Federal Aviation Administration required an individual to separate from service as a commercial airline pilot after attaining any age before age 65, this paragraph shall be applied to an individual who is a participant in the plan by reason of such service by substituting such age for age 65. The calculation of benefit liabilities and unfunded benefit liabilities under this section, and the allocation of assets under section 4044, shall not reflect any additional benefits the corporation must guarantee due to the application of the preceding sentence..
(b)
Aggregate limit on benefits guaranteed; criteria applicable
Section 4022B(a) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1322b(a)) is amended by adding at the end the following: If, at the time of termination of a plan under this title, or at the time of freezing benefit accruals under a plan pursuant to subsections (a)(1) and (b) of section 402 of the Pension Protection Act of 2006, regulations prescribed by the Federal Aviation Administration required an individual to separate from service as a commercial airline pilot after attaining any age before age 65, this subsection shall be applied to an individual who is a participant in the plan by reason of such service by substituting such age for age 65..
3.
Effective date
The amendments made by this Act shall apply to benefits payable on or after the date of the enactment of this Act.

Picture Name From Date Type
Scott Peters D-CA 02/07/2020 Sponsor
Peter Welch D-VT 02/07/2020 Cosponsor
Adam Schiff D-CA 02/07/2020 Cosponsor
Janice Schakowsky D-IL 02/07/2020 Cosponsor
C Ruppersberger D-MD 02/07/2020 Cosponsor
Mark Pocan D-WI 02/07/2020 Cosponsor
Eleanor Norton D-DC 02/07/2020 Cosponsor
Jerry McNerney D-CA 02/07/2020 Cosponsor
Marcy Kaptur D-OH 02/07/2020 Cosponsor
Date Branch Action
02/07/2020 President Referred to the House Committee on Education and Labor.Action By: House of Representatives
02/07/2020 President Introduced in HouseAction By: House of Representatives
Summary
Congress - Bill Number Major Title
Branch Vote Date Yes No Not Voting
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Bill TEXT Points.
This Bill has been listed with the following Subjects from Texts:
Income
McNerney) introduced the following bill; which was referred to the Committee on Education and LaborA BILLTo amend title IV of the Employee Retirement Income Security Act of 1974 to require the Pension Benefit Guaranty Corporation, in the case of airline pilots who are required by regulation to retire at age 60, to compute the actuarial value of monthly benefits in the form of a life annuity commencing at age 60

Pension Benefit Guaranty Corporation
McNerney) introduced the following bill; which was referred to the Committee on Education and LaborA BILLTo amend title IV of the Employee Retirement Income Security Act of 1974 to require the Pension Benefit Guaranty Corporation, in the case of airline pilots who are required by regulation to retire at age 60, to compute the actuarial value of monthly benefits in the form of a life annuity commencing at age 60

Retirement
McNerney) introduced the following bill; which was referred to the Committee on Education and LaborA BILLTo amend title IV of the Employee Retirement Income Security Act of 1974 to require the Pension Benefit Guaranty Corporation, in the case of airline pilots who are required by regulation to retire at age 60, to compute the actuarial value of monthly benefits in the form of a life annuity commencing at age 60

Age
Age requirement for employees (a)Single-Employer plan benefits guaranteedSection 4022(b)(3) of the Employee Retirement Income Security Act of 1974 (29 U


End Bill TEXT Points.
Date Bill Major Title
Committee Name
Subject Type