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Pension Overpayment Recovery: Stopping Payments to Deceased Beneficiaries.

This law aims to protect taxpayer money by requiring multiemployer pension plans to repay government funds disbursed in error, specifically those allocated for participants who were already deceased. It mandates that the Pension Benefit Guaranty Corporation (PBGC) audit beneficiary data against Social Security death records to ensure the integrity of financial assistance programs. Recovered funds are returned to the U.S. Treasury.
Key points
Mandatory Repayment: Pension plans must return special financial assistance funds that were overpaid, particularly amounts paid on behalf of deceased participants or beneficiaries.
Required Audits: The PBGC must audit plan census data, matching it with the Social Security Administration’s Death Master File to identify improper payments.
Taxpayer Protection: Funds recovered from these erroneous payments (plus interest) are transferred back to the general fund of the Treasury.
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Expired
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Additional Information
Print number: 118_S_3682
Sponsor: Sen. Cassidy, Bill [R-LA]
Process start date: 2024-01-30
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Summarized by: gemini-flash-latest
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

GHOST Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_3682.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2024-01-30.

What are the main provisions?

Key points include:

  • Mandatory Repayment: Pension plans must return special financial assistance funds that were overpaid, particularly amounts paid on behalf of deceased participants or beneficiaries.
  • Required Audits: The PBGC must audit plan census data, matching it with the Social Security Administration’s Death Master File to identify improper payments.
  • Taxpayer Protection: Funds recovered from these erroneous payments (plus interest) are transferred back to the general fund of the Treasury.
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. Cassidy, Bill [R-LA].

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 2025-12-26.

CATEGORIES

Benefits Economy