House Bill #5287 (2019)

AN ACT RELATING TO LABOR AND LABOR RELATIONS -- NON-ERISA COVERED PENSION PLANS

Requires that all defined pension plans, excluding certain governmental plans, which are not covered by the ERISA and have at least two hundred (200) members, comply with ERISA's annual reporting provisions.

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Changes since original draft

  • 2019 – H 5287 ======== LC001206 ========
  • 2019 – H 5287 SUBSTITUTE A AS AMENDED ======== LC001206/SUB A ========
  • S T A T E O F R H O D E I S L A N D
  • IN GENERAL ASSEMBLY
  • JANUARY SESSION, A.D. 2019
  • ____________
  • A N A C T
  • RELATING TO LABOR AND LABOR RELATIONS – NON-ERISA COVERED PENSION
  • PLANS
  • Introduced By: Representatives Shekarchi, McKiernan, O'Brien, Slater, and Diaz
  • Date Introduced: February 06, 2019
  • Referred To: House Judiciary
  • (General Treasurer) It is enacted by the General Assembly as follows:
  • SECTION 1. Chapter 28-7.1 of the General Laws entitled "Health and Welfare Funds, Pension Plans" is hereby amended by adding thereto the following section:
  • 28-7.1-4. Defined pension plans annual reporting.
  • All defined pension plans that are not covered by the Employee Retirement Income Security Act of 1974 (ERISA) and which have two hundred (200) or more plan members shall be required to comply with the annual reporting provisions of 29 U.S.C. § 1024(b)(3).
  • SECTION 2. This act shall take effect upon passage. ======== LC001206 ========
  • 28-7.1-4. Defined benefit plans annual reporting.
  • (a) All defined benefit plans that are not covered by the Employee Retirement Income Security Act of 1974 (ERISA) and have two hundred (200) or more plan members shall be required to comply with the provisions of 29 U.S.C. § 1024(b)(3).
  • (b) This section shall not apply to governmental plans as defined in 29 U.S.C. § 1002(32).
  • SECTION 2. This act shall take effect upon passage. ======== LC001206/SUB A ========
  • EXPLANATION
  • BY THE LEGISLATIVE COUNCIL
  • OF
  • A N A C T
  • RELATING TO LABOR AND LABOR RELATIONS – NON-ERISA COVERED PENSION
  • PLANS
  • ***
  • This act would require that all defined pension plans which are not covered by the ERISA and have at least two hundred (200) members, comply with ERISA's annual reporting provisions.
  • This act would take effect upon passage. ======== LC001206 ========
  • This act would require that all defined pension plans, excluding certain governmental plans, which are not covered by the ERISA and have at least two hundred (200) members, comply with ERISA's annual reporting provisions.
  • This act would take effect upon passage. ======== LC001206/SUB A ========

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