MAP-21(7)

Multiemployer plans that would be eligible for partitioning through 2024 would be those in critical and declining status, those with significant underfunding and at least 50% more retirees than actives, those that have suspended benefits, and certain plans that have already become insolvent.

On January 21, 2021, Congressman Neal (D-MA), Chairman of the House Ways and Means Committee, and Congressman Scott (D-VA), Chairman of the House Education and Labor Committee, introduced single employer plan funding relief proposals. Both bills are titled the “Emergency Pension Plan Relief Act of 2021.”