Susan Muffley Act of 2022

Hozzl · 2022-12-29T22:33:33Z

Explore the details of Senate Bill 3766 Susan Muffley Act of 2022 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Labor and Employment. Stay informed on legislative developments.

12/29/2022, 10:33 PM

Congressional Summary of S 3766

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.

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Current Status of Bill S 3766

Bill S 3766 is currently in the status of Bill Introduced since March 7, 2022. Bill S 3766 was introduced during Congress 117 and was introduced to the Senate on March 7, 2022. Bill S 3766's most recent activity was Read twice and referred to the Committee on Finance. as of March 7, 2022