Hearings on the Multiemployer Pension Plan Amendments Act of 1979: Hearings Before the Task Force on Welfare and Pension Plans of the Subcommittee on Labor-Management Relations of the Committee on Education and Labor, House of Representatives, Ninety-sixth Congress, First Session, on H.R. 3904 ... June 5 and 7, 1979U.S. Government Printing Office, 1980 - 1633 pages |
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Common terms and phrases
accordance with regulations AFL-CIO amortized basic benefits Benefit Guaranty Corporation benefit payments benefits guaranteed bill Chairman collective bargaining agreement date of enactment defined benefit plans defined contribution plan effective date Employee Retirement Income employer contributions employer liability employer withdraws ERISA ERLENBORN February 27 Income Security Act inserting in lieu Internal Revenue Code KILDEE Labor lieu thereof meaning of section ment merger MINIMUM FUNDING REQUIREMENTS multiem multiemployer pension plans multiemployer plan obligation to contribute paragraph PBGC Pension Benefit Guaranty percent persons in pay plan administrator plan amendment plan assets plan in reorganization plan participants plan reorganization plan sponsor plan year beginning plan year ending plan's unfunded ployer plan premium prescribe problem proposed purposes rate of employer reduce benefits resource benefit level respect Retirement Income Security Secretary SEIFMAN single-employer plan striking subparagraph subsection subtitle THOMPSON tion transfer trustees unfunded benefit obligations unfunded vested liabilities union withdrawal liability
Popular passages
Page 1481 - (5) to refuse to bargain collectively with the representatives of his employees, subject to the provisions of section 9 (a), "(b) It shall be an unfair labor practice for a labor organization or its agents — "(1) to restrain or coerce (A) employees in the exercise of the rights guaranteed in section 7...
Page 798 - I appreciate this opportunity of appearing before the committee, and shall be happy to answer any questions that members of the committee may have on this bill.
Page 1141 - A fiduciary shall discharge his duties with respect to a plan solely in the interest of the participants and beneficiaries and for the exclusive purpose of • providing benefits to participants and their beneficiaries and • defraying reasonable expenses of administering the plan...
Page 1128 - Secretary shall establish regulations defining (for purposes of this section) "termination priority categories" and acceptable methods, including approximate methods, for allocating the plan's liabilities to such termination priority categories. (7) A certification of the contribution necessary to reduce the accumulated funding deficiency to zero. (8) A statement by the enrolled actuary — (A) that to the best of his knowledge the report is complete and accurate, and (B) the requirements of section...
Page 981 - ... actuarial assumptions and methods which, in the aggregate, are reasonable (taking into account the experience of the plan and reasonable expectations) and which, in combination, offer the actuary's best estimate of anticipated experience under the plan.
Page 576 - ... owing to the termination of plans before requisite funds have been accumulated, employees and their beneficiaries have been deprived of anticipated benefits...
Page 1131 - Such difficulties indicate that the dichotomy between personal liberties and property rights is a false one. Property does not have rights. People have rights. The right to enjoy property without unlawful deprivation, no less than the right to speak or the right to travel, is, in truth a "personal" right, whether the "property" in question be a welfare check, a home or a savings account.
Page 1043 - For purposes of this part, the term 'defined contribution plan' means a plan which provides for an individual account for each participant and for benefits based solely on the amount contributed to the participant's account, and any income, expenses, gains and losses, and any forfeitures of accounts of other participants which may be allocated to such participant's account. "(j) DEFINED BENEFIT PLAN. — For purposes of this part, the term 'defined benefit plan...
Page 232 - Except as otherwise expressly provided, whenever in this Act an amendment or repeal is expressed in terms of an amendment to, or repeal of, a section or other provision, the reference shall be considered to be made to a section or other provision of the Internal Revenue Code of 1954.
Page 114 - Union, and ordered to be printed [Strike out all after the enacting clause and insert the part printed In italic] A BILL To amend the Fair Labor Standards Act of 1938 to increase the minimum wage rates under that Act, to expand the coverage of that Act, and for other purposes.