Susan Muffley Act: Increased Pension Benefits and Back Payments for Certain Plans
This act aims to increase guaranteed pension benefits for participants in certain plans whose companies failed. This means individuals who lost part of their pensions may receive higher monthly payments and a one-time lump sum for past underpayments, including interest. The act specifically targets certain pension plans, including those related to Delphi.
Key points
Increased monthly pension payments to the full vested amount for eligible individuals who lost part of their benefits.
One-time lump-sum payments of past-due benefits, including 6% annual interest, for those whose pensions were previously underpaid.
Establishment of a dedicated trust fund within the Treasury to ensure funds for increased benefit payments and administrative costs.
Provisions for administrative review of decisions regarding benefit recalculations or lump-sum payments.
Introduced
Additional Information
Print number: 119_S_1950
Sponsor: Sen. Husted, Jon [R-OH]
Process start date: 2025-06-04