S.Amdt. 3819

SA 3819. Mr. BROWN of Ohio submitted an amendment intended to be
proposed to amendment SA 3739 proposed by Mr. Reid (for Mr. Dodd (for
himself and Mrs. Lincoln)) to the bill S. 3217, to promote the
financial stability of the United States by improving accountability
and transparency in the financial system, to end ``too big to fail'',
to protect the American taxpayer by ending bailouts, to protect
consumers from abusive financial services practices, and for other
purposes; which was ordered to lie on the table; as follows:

On page 191, after line 24, insert the following new
subparagraphs after subparagraph (B) and redesignate the
subsequent subparagraphs:
(C) Wages, salaries, or commissions, including vacation,
severance, and sick leave pay earned by an individual (other
than management responsible for the failed condition of the
covered financial company who have been removed), but only to
the extent of $11,725 for each individual (as indexed for
inflation by regulation of the Corporation) earned within 180
days before the appointment of the Corporation as receiver.
(D) Contributions owed to employee benefit plans arising
from services rendered within 180 days before the appointment
of the Corporation as receiver to the extent of the number of
employees covered by each such plan multiplied by $11,725 (as
indexed for inflation by regulation of the Corporation), less
the aggregate amount paid to such employees under
subparagraph (C) plus the aggregate amount paid by the
receivership on behalf of such employees to any other
employee benefit plan.
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