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Relief for endangered pension plans and benefit protection

This Act aims to rescue endangered multiemployer pension plans by providing financial assistance through special partition relief. This ensures that participants and beneficiaries can maintain their threatened benefits. It also introduces changes in management and reporting rules to enhance the stability and transparency of the pension system.
Key points
Financial assistance for endangered pension plans through a partition mechanism.
Reinstatement of previously suspended pension benefits for plan participants.
Increased pension benefit guarantees by the government agency (PBGC).
Facilitation for pension plans in distress, including delaying the classification of endangered status.
Extension of periods for financial improvement for plans in critical or endangered status.
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Status:
Expired
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Additional Information
Butch Lewis Emergency Pension Plan Relief Act of 2021
Print number: S 547
Sponsor: Sen. Brown, Sherrod [D-OH]
Process start date: 2021-03-02
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Summarized by: gemini-3-pro-preview
Source data: api.congress.gov
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Summary & Status

Key Questions about Relief for endangered pension plans and benefit protection

A structured overview of the legislative process, official sources, status and civic context.

What is the official ID of this bill?

The official print number for this legislation is S 547.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-03-02.

What are the main provisions?

Key points include:

  • Financial assistance for endangered pension plans through a partition mechanism.
  • Reinstatement of previously suspended pension benefits for plan participants.
  • Increased pension benefit guarantees by the government agency (PBGC).
  • Facilitation for pension plans in distress, including delaying the classification of endangered status.
  • Extension of periods for financial improvement for plans in critical or endangered status.

What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Brown, Sherrod [D-OH].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2026-01-02.

Analysis and Potential Impact of S 547

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge. Review our public AI processing logs for full transparency, and use Lustra to track active legislation for instant status push notifications.

CATEGORIES

Benefits Labor Economy