Susan Muffley Act of 2023

1/18/2024, 9:02 AM

Susan Muffley Act of 2023

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.

Congress
118

Number
HR - 735

Introduced on
2023-02-01

# Amendments
0

Sponsors
+5

Cosponsors
+5

Variations and Revisions

2/1/2023

Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and Summary

Susan Muffley Act of 2023

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.

Alternative Names
Official Title as IntroducedTo increase the benefits guaranteed in connection with certain pension plans, and for other purposes.

Policy Areas
Labor and Employment

Comments

Recent Activity

Latest Summary6/5/2023

Susan Muffley Act of 2023

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...


Latest Action2/1/2023
Referred to the Committee on Education and the Workforce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction...