S.Amdt. 365

SA 365. Mr. BROWN (for himself, Mr. Durbin, Mr. Schumer, Mr.
Voinovich, Mr. Casey, and Mrs. Gillibrand) submitted an amendment
intended to be proposed to amendment SA 98 proposed by Mr. Inouye (for
himself and Mr. Baucus) to the bill H.R. 1, making supplemental
appropriations for job preservation and creation, infrastructure
investment, energy efficiency and science, assistance to the
unemployed, and State and local fiscal stabilization, for fiscal year
ending September 30, 2009, and for other purposes; which was ordered to
lie on the table; as follows:

On page 192, after line 21, insert the following:

SEC. __. TEMPORARY WAIVER OF RECOVERY BY THE PENSION BENEFIT
GUARANTY CORPORATION OF CERTAIN PENSION
OVERPAYMENTS.

(a) In General.--Notwithstanding any other provision of
law, the Pension Benefit Guaranty Corporation shall not,
during the 2-year period beginning on the date of the
enactment of this Act, recoup from any participant or
beneficiary any amount paid to such participant or
beneficiary before such date of enactment that exceeded the
amount of the net benefit to which such participant or
beneficiary was otherwise entitled under title IV of the
Employee Retirement Income Security Act of 1974 (21 U.S.C.
1301 et seq.).
(b) Effect of Waiver.--A participant or beneficiary shall
be treated as having paid to the Pension Benefit Guaranty
Corporation the aggregate amount which, but for subsection
(a), would have been recouped from the participant or
beneficiary. The Pension Benefit Guaranty Corporation shall
reduce the amount to be recouped from the participant or
beneficiary by the amount of such deemed payment.
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