Core Provisions: This bill would amend the Employee Retirement Income Security Act to give the pension plan system more transparency and accountability and to make termination of pension plans more difficult by, inter alia: (1) increasing the rights of workers by allowing them to play a greater role in managing their own pensions; (2) requiring plan administrators to share material investment information with participants; (3) revising portions of ERISA to protect against abuse of the bankruptcy and plan termination processes; and (4) providing that companies who terminate their plans be liable for amounts not covered by the Pension Benefit Guaranty Corporation.

Status: H.R.5754 was introduced in the House by Rep. Peter J. Visclosky (D-Ind.) on April 9, 2008, and was referred immediately to the Committee on Education and Labor and the Committee on the Judiciary.