The 1980 Multiemployer Pension Plan Amendments Act: An Assessment of Funding Requirement Changes
HRD-85-1
Published: Feb 27, 1985. Publicly Released: Feb 27, 1985.
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Highlights
GAO reported on the effect of the Multiemployer Pension Plan Amendments Act of 1980 on employers, participants, and others, and it assessed the effect of the act's changes in multiemployer plan funding requirements.
Recommendations
Matter for Congressional Consideration
| Matter | Status | Comments |
|---|---|---|
| Congress may wish to amend the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code to require that the vested benefits charge under the reorganization provisions be calculated using a 15- rather than 25-year period for amortizing the unfunded vested benefits of plan participants that have not retired. |
Closed – Not Implemented
|
Section 413 of P.L. 96-364, the Multiemployer Pension Plan Amendments Act of 1980, states that, subsequent to June 30, 1985, hearings shall be held on such GAO recommendations by the authorizing committees. As of June 21, 1988, no action had been taken on this recommendation and no hearings have been scheduled. |
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Topics
AmortizationCompensationEmployee retirement plansReorganizationFederal legislationFinancial analysisFunds managementInsurancePaymentsPrivate sectorRetirement benefits