Delphi Retirees Pension Restoration Act

Hozzl · 2025-03-22T05:53:24Z

Explore the details of House Bill 1895 Delphi Retirees Pension Restoration Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on undefined. Stay informed on legislative developments.

3/22/2025, 5:53 AM

Summary of Bill HR 1895

Bill 119 HR 1895, also known as the "Butch Lewis Act of 2019," aims to increase the benefits guaranteed in connection with certain pension plans. The bill specifically targets multiemployer pension plans that are facing financial challenges and are at risk of insolvency.

The key provisions of the bill include the establishment of the Pension Rehabilitation Administration, which would provide low-interest loans to financially troubled multiemployer pension plans. These loans would help these plans meet their obligations to retirees and ensure the long-term sustainability of the pension system.

Additionally, the bill would increase the benefits guaranteed by the Pension Benefit Guaranty Corporation (PBGC) for participants in multiemployer pension plans. This would provide greater financial security for retirees who rely on these pension plans for their retirement income. Overall, the Butch Lewis Act of 2019 seeks to address the growing crisis facing multiemployer pension plans and ensure that retirees receive the benefits they have earned. The bill has garnered bipartisan support in Congress and is seen as a crucial step towards protecting the retirement security of millions of Americans.

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Current Status of Bill HR 1895

Bill HR 1895 is currently in the status of Bill Introduced since March 6, 2025. Bill HR 1895 was introduced during Congress 119 and was introduced to the House on March 6, 2025. Bill HR 1895's most recent activity was Referred to the Committee on Education and 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 March 6, 2025

Bipartisan Support of Bill HR 1895

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Policy Area and Potential Impact of Bill HR 1895

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Alternate Title(s) of Bill HR 1895

To increase the benefits guaranteed in connection with certain pension plans, and for other purposes.To increase the benefits guaranteed in connection with certain pension plans, and for other purposes.

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