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Prepared by Mike Ewing, J.D.
Director of Research
United Actuarial Services, Inc.
(317) 580-8659
Fax (317) 580-8651
email: mewing@unitedactuarial.com
© United Actuarial Services, Inc. 2010
2010-39
June 2, 2010
House Passes Pension Relief Bill
Bill Goes Back To Senate for Passage
The House passed H.R. 4213, the American Jobs And Closing Tax Loopholes Act Of
2010
on May 28, 2010.
The Bill does not contain an extension of the COBRA
subsidy, but does contain much needed pension funding relief for single and
multiemployer pension plans. The text of the bill is available by “clicking here” or
The multiemployer pension relief is found at pages 136-168 of the Bill. The Bill
makes parallel amendments to ERISA and the Code. We will focus on the
multiemployer pension relief provisions of the Bill which are found in Sections 311,
Unfortunately, however, the House version amended the previously passed Senate
version meaning the Bill must now go back to the Senate for passage of the House-
amended version. The Senate does not meet again until June 7, 2010 and some
news reports indicate the Bill is not guaranteed for quick passage.
In brief, the House Bill allows:
Optional use of 30-year amortization periods for certain losses (Section 311)
Optional longer recovery periods for multiemployer plans in endangered or
critical status (Section 312)
Modification of certain amortization extensions under prior law (Section 313)
Alternative default schedule for plans in endangered or critical status
(Section 314)
Transition rule for certifications of plan status (Section 315)
The House summary of the Bill is available by “clicking here” or at:
Pages 8-10 of the summary discuss the multiemployer pension relief provisions and
are excerpted below.
CLIENT BULLETIN