President Signs Bill Reforming Multiemployer Pension Plan Rules | Practical Law
President Obama signed into law H.R. 83, known as the Consolidated and Further Continuing Appropriations Act, which provides for various modifications (referred to as the 2014 Multiemployer Pension Reform Act) to multiemployer pension plan rules and other remediation measures, including enabling distressed multiemployer pension plans to cut benefits owed to retirees. The Act is intended save underfunded plans from bankruptcy and keep the Pension Benefit Guaranty Corporation's (PBGC's) multiemployer pension insurance fund solvent. The Act also includes an exemption for expatriate health plans from many provisions of the Affordable Care Act (ACA).