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Susan Muffley Act of 2023
1/18/2024, 9:02 AM
Congressional Summary of HR 735
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.
Read the Full Bill
Current Status of Bill HR 735
Bill HR 735 is currently in the status of Bill Introduced since February 1, 2023. Bill HR 735 was introduced during Congress 118 and was introduced to the House on February 1, 2023. Bill HR 735's most recent activity was 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 of the committee concerned. as of February 1, 2023
Bipartisan Support of Bill HR 735
Total Number of Sponsors
1Democrat Sponsors
0Republican Sponsors
1Unaffiliated Sponsors
0Total Number of Cosponsors
0Democrat Cosponsors
0Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 735
Primary Policy Focus
Labor and EmploymentAlternate Title(s) of Bill HR 735
Susan Muffley Act of 2023
Susan Muffley Act of 2023
To increase the benefits guaranteed in connection with certain pension plans, and for other purposes.
Comments
Sponsors and Cosponsors of HR 735
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