,i #aaeth ,,congress #ast ,session ,h4 ,r4 #ciac ,,in ,,the ,,house ,,of ,,representatives ,october #c1 #bjag,mr4 ,mc,kinley 7for himself1 ,mr4 ,welch1 ,mr4 ,brady of ,pennsylvania1 ,mr4 ,pocan1 ,mr4 ,thompson of ,mississippi1 ,ms4 ,kaptur1 ,mr4 ,ryan of ,ohio1 ,mr4 ,yarmuth1 ,mr4 ,michael ,f4 ,doyle of ,pennsylvania1 ,mr4 ,scott of ,virginia1 ,mr4 ,norcross1 ,mr4 ,mooney of ,west ,virginia1 ,mr4 ,jenkins of ,west ,virginia1 ,mr4 ,johnson of ,ohio1 and ,mrs4 ,bustos7 introduced the following bill2 which was referred to the ,committee on ,natural ,resources1 and in addition to the ,committee on ,ways and ,means1 for a period to be subsequently determined by the ,speaker1 in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned ,a ,,bill ,to amend the ,surface ,mining ,control and ,reclamation ,act of #aigg to transfer certain funds to the #aigd ,united ,mine ,workers of ,america ,pension ,plan1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,american ,miners ,pension ,act of #bjag4 #b4 ,transfers to #aigd ,,umwa ,pension ,plan 7a7 ,in general ,subsection 7i7 of section #djb of the ,surface ,mining ,control and ,reclamation ,act of #aigg 7#cj ,u4,s4,c4 #abcb7 is amended-- 7#a7 by redesignating paragraph 7#d7 as paragraph 7#e72 and 7#b7 by inserting after paragraph 7#c7 the following3 7#d7 ,additional amounts 7,a7 ,calculation ,if the dollar limitation specified in paragraph 7#c77;,a7 exceeds the aggregate amount required to be transferred under paragraphs 7#a7 and 7#b7 for a fiscal year1 the ,secretary of the ,treasury shall transfer an additional amount equal to the difference between such dollar limitation and such aggregate amount to the trustees of the #aigd ,,umwa ,pension ,plan to pay benefits required under that plan4 7,b7 ,cessation of transfers ,the transfers described in subparagraph 7,a7 shall cease as of the first fiscal year beginning after the first plan year for which the funded percentage 7as defined in section #dcb7;i77#b7 of the ,internal ,revenue ,code of #aihf7 of the #aigd ,,umwa ,pension ,plan is at least #ajj percent1 taking fully into account all outstanding liabilities for loans made pursuant to subparagraph 7,d74 7,c7 ,prohibition on benefit increases1 etc ,during a fiscal year in which the #aigd ,,umwa ,pension ,plan is receiving transfers under subparagraph 7,a71 no amendment of such plan which increases the liabilities of the plan by reason of any increase in benefits1 any change in the accrual of benefits1 or any change in the rate at which benefits become nonforfeitable under the plan may be adopted unless the amendment is required as a condition of qualification under part ,i of subchapter ,d of chapter #a of the ,internal ,revenue ,code of #aihf4 7,d7 ,treatment of transfers for purposes of withdrawal liability under ,,erisa ,if the #aigd ,,umwa ,pension ,plan is in critical1 seriously endangered1 or endangered status 7within the meaning of section #dcb of the ,internal ,revenue ,code of #aihf and section #cje of the ,employee ,retirement ,income ,security ,act of #aigd7 for a plan year beginning in a fiscal year1 the amount of any transfer made under subparagraph 7,a7 for such fiscal year 7and any earnings attributable thereto7 shall be disregarded in determining the unfunded vested benefits of the #aigd ,,umwa ,pension ,plan and the allocation of such unfunded vested benefits to an employer for purposes of determining the employer's withdrawal liability under section #dbja of the ,employee ,retirement ,income ,security ,act of #aigd4 7,e7 ,additional loan authority 7i7 ,in general ,in addition to the amounts transferred under any provision other than this subparagraph1 and without regard to the limitations described in paragraph 7#c71 each year beginning with fiscal year #bjah the ,secretary of the ,treasury shall transfer to the #aigd ,,umwa ,pension ,plan as a loan the amount certified by the ,trustees of the #aigd ,,umwa ,pension ,plan to be necessary to prevent the insolvency of such plan4 7ii7 ,annual cap ,the amount of each annual loan under clause 7i7 shall not exceed #fjj1jjj1jjj4 7iii7 ,loan terms 7,i7 ,in general ,each such annual loan shall bear interest at the rate of #a percent per annum1 and each shall be treated as a separate loan4 7,,ii7 ,repayment ,for the first #aj years of each such loan1 only the interest on such loan shall be repayable1 and payments on the principal shall be distributed over the #cj-year period beginning with the #aath year of the loan4 7,,iii7 ,additional payments ,notwithstanding subclauses 7,i7 and 7,,ii71 to the extent that the ,trustees of the #aigd ,,umwa ,pension ,plan certify that such plan has surplus assets which are not needed to pay benefits under the plan or to ensure the future solvency of the plan1 such surplus assets shall be applied towards the repayment of the oldest outstanding loan made pursuant to this subparagraph4 7,,iv7 ,maintenance of certain measures under rehabilitation plan ,each loan under this subparagraph shall specify as a condition of the loan that1 if the #aigd ,,umwa ,pension ,plan emerges from critical status 7within the meaning of section #dcb of the ,internal ,revenue ,code of #aihf and section #cje of the ,employee ,retirement ,income ,security ,act of #aigd71 the ,plan will continue to meet the requirements of section #dcb7;b77#c7 of such ,code and #cje7;b77#c7 of such ,act1 the measures adopted pursuant to section #dcb7;e77#c77;,a77ii7 of such ,code and section #cje7;e77#c77;,a77ii7 of such ,act will remain in place1 and section #dab7;b77#c7 of such ,code and section #cjb7;b77#c7 of such ,act shall continue to apply to the ,plan4 7iv7 ,annual certification ,each year beginning with fiscal year #bjah1 the ,trustees of the #aigd ,,umwa ,pension ,plan shall certify the amount required to be loaned pursuant to clause 7i7 and the amount of any surplus assets described in clause 7iii77,,iii74 ,such certification shall also include a certification that-- 7,i7 such loan amount1 in combination with future amounts available to the ,plan1 is projected to be sufficient to maintain indefinitely the solvency of the plan 7without regard to any outstanding loan balance72 and 7,,ii7 the ,plan is projected to be able to repay the amount of such loan1 with interest1 as required under clause 7iii74 ,the preceding sentence shall not apply with respect to any year in which the amount determined by the ,trustees under clause 7i7 is #j and no loans under this subparagraph remain outstanding4 7v7 ,plan insolvency or default ,if the #aigd ,,umwa ,pension ,plan becomes insolvent in any year despite receiving loan amounts under this subparagraph1 or if the ,plan is unable to make any payment on a loan under this subparagraph when due1 employers contributing to the ,plan and employer associations with members contributing to the ,plan shall not be subject to any new or increased liability1 including any increased fee1 expense1 contribution1 assessment1 or surcharge4 7vi7 ,insolvency ,for purposes of this subparagraph1 the term insolvency has the meaning given such term by section #dah;,e7b77#a7 of the ,internal ,revenue ,code of #aihf4 7vii7 ,initial loan ,the first loan under this subparagraph shall be made not later than #fj days after the date of enactment of the ,american ,miners ,pension ,act of #bjag4 7,f7 ,enhanced annual reporting 7i7 ,in general ,not later than the #ijth day of each plan year beginning after the date of enactment of the ,american ,miners ,pension ,act of #bjag1 the trustees of the #aigd ,,umwa ,pension ,plan shall file with the ,secretary of the ,treasury or the ,secretary's delegate and the ,pension ,benefit ,guaranty ,corporation a report 7including appropriate documentation and actuarial certifications from the plan actuary1 as required by the ,secretary of the ,treasury or the ,secretary's delegate7 that contains-- 7,i7 whether the plan is in endangered or critical status under section #cje of the ,employee ,retirement ,income ,security ,act of #aigd and section #dcb of the ,internal ,revenue ,code of #aihf as of the first day of such plan year2 7,,ii7 the funded percentage 7as defined in section #dcb7;i77#b7 of such ,code7 as of the first day of such plan year1 and the underlying actuarial value of assets and liabilities taken into account in determining such percentage2 7,,iii7 the market value of the assets of the plan as of the last day of the plan year preceding such plan year2 7,,iv7 the total value of all contributions made during the plan year preceding such plan year2 7,v7 the total value of all benefits paid during the plan year preceding such plan year2 7,,vi7 cash flow projections for such plan year and either the #f or #aj succeeding plan years1 at the election of the trustees1 and the assumptions relied upon in making such projections2 7,,vii7 funding standard account projections for such plan year and the #i succeeding plan years1 and the assumptions relied upon in making such projections2 7,,viii7 the total value of all investment gains or losses during the plan year preceding such plan year2 7,,ix7 any significant reduction in the number of active participants during the plan year preceding such plan year1 and the reason for such reduction2 7,x7 a list of employers that withdrew from the plan in the plan year preceding such plan year1 and the resulting reduction in contributions2 7,,xi7 a list of employers that paid withdrawal liability to the plan during the plan year preceding such plan year and1 for each employer1 a total assessment of the withdrawal liability paid1 the annual payment amount1 and the number of years remaining in the payment schedule with respect to such withdrawal liability2 7,,xii7 any material changes to benefits1 accrual rates1 or contribution rates during the plan year preceding such plan year2 7,,xiii7 any scheduled benefit increase or decrease in the plan year preceding such plan year having a material effect on liabilities of the plan2 7,,xiv7 details regarding any funding improvement plan or rehabilitation plan and updates to such plan2 7,,xv7 the number of participants and beneficiaries during the plan year preceding such plan year who are active participants1 the number of participants and beneficiaries in pay status1 and the number of terminated vested participants and beneficiaries2 7,,xvi7 the information contained on the most recent annual funding notice submitted by the plan under section #aja7;f7 of the ,employee ,retirement ,income ,security ,act of #aigd2 7,,xvii7 the information contained on the most recent ,department of ,labor ,form #eejj of the plan2 and 7,,xviii7 copies of the plan document and amendments1 other retirement benefit or ancillary benefit plans relating to the plan and contribution obligations under such plans1 a breakdown of administrative expenses of the plan1 participant census data and distribution of benefits1 the most recent actuarial valuation report as of the plan year1 copies of collective bargaining agreements1 and financial reports1 and such other information as the ,secretary of the ,treasury or the ,secretary's delegate1 in consultation with the ,secretary of ,labor and the ,director of the ,pension ,benefit ,guaranty ,corporation1 may require4 7ii7 ,electronic submission ,the report required under clause 7i7 shall be submitted electronically4 7iii7 ,information sharing ,the ,secretary of the ,treasury or the ,secretary's delegate shall share the information in the report under clause 7i7 with the ,secretary of ,labor4 7iv7 ,penalty ,any failure to file the report required under clause 7i7 on or before the date described in such clause shall be treated as a failure to file a report required to be filed under section #fjeh7;a7 of the ,internal ,revenue ,code of #aihf1 except that section #ffeb7;e7 of such ,code shall be applied with respect to any such failure by substituting #ajj for #be4 ,the preceding sentence shall not apply if the ,secretary of the ,treasury or the ,secretary's delegate determines that reasonable diligence has been exercised by the trustees of such plan in attempting to timely file such report4 7,g7 #aigd ,,umwa ,pension ,plan defined ,for purposes of this paragraph1 the term #aigd ,,umwa ,pension ,plan has the meaning given the term in section #igja7;a77#c7 of the ,internal ,revenue ,code of #aihf1 but without regard to the limitation on participation to individuals who retired in #aigf and thereafter4 4 7b7 ,coordination with taxation of unrelated business income ,subparagraph 7,a7 of section #ead7;c77#f7 of the ,internal ,revenue ,code of #aihf is amended-- 7#a7 by striking or at the end of clause 7i72 7#b7 by striking the period at the end of clause 7ii77,,ii7 and inserting 1 or2 and 7#c7 by adding at the end the following new clause3 7iii7 indebtedness with respect to the #aigd ,,umwa ,pension ,plan 7as defined in section #djb7;i77#d77;,g7 of the ,surface ,mining ,control and ,reclamation ,act of #aigg7 under a loan made by the ,secretary pursuant to section #djb7;i77#d77;,e7 of the ,surface ,mining ,control and ,reclamation ,act of #aigg4 4 7c7 ,effective date ,the amendments made by this section shall apply to fiscal years beginning after ,september #cj1 #bjaf4