H.R. 6929House117th Congress (2021-2023)Passed House

Susan Muffley Act of 2022

Introduced March 3, 2022

AI-Generated Summary

Updated February 8, 2026 at 9:46 AM UTC

The Susan Muffley Act of 2022 raises the guaranteed monthly benefits for participants and beneficiaries of several specified pension plans to the full vested amount. It requires the Pension Benefit Guaranty Corporation (PBGC) to recalculate benefits, issue lump‑sum payments for past underpayments with interest, and fund these increases through a new Treasury‑backed trust. The bill also speeds up a premium payment deadline and orders a PBGC report on its long‑term solvency.

Key Provisions

  • Increases guaranteed monthly benefits for covered plans to the full vested plan benefit and requires PBGC to recalculate any lower amounts already paid.
  • PBGC must pay lump‑sum amounts for past‑due benefits within 180 days, adding interest at a 6% annual rate.
  • Creates the “Delphi Full Vested Plan Benefit Trust Fund” in the Treasury, funded from general appropriations, to cover the added benefit costs and related admin expenses.
  • Sets tax treatment so lump‑sum payments are spread over three years, with special rules if the recipient dies, allowing surviving spouses to elect different treatment.
  • Accelerates a specific pension variable‑rate premium payment deadline to September 15, 2032, and mandates a PBGC solvency report to Congress within two years.

Legislative Activity

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11 earlier actions
SenateIntro Referral Latest Action

Received in the Senate.

July 28, 2022

View full timeline
HouseIntro Referral

Introduced in House

March 3, 2022

HouseIntro Referral

Referred to the Committee on Education and Labor, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

March 3, 2022

HouseFloor

Rules Committee Resolution H. Res. 1254 Reported to House. Rule provides for consideration of H.R. 3771, H.R. 5118 and H.R. 6929. Rule provides for consideration under structured rules for H.R. 3771, H.R. 5118 and H.R. 6929, and provides for one hour of general debate on each bill.

July 26, 2022 • 11:49 AM

HouseFloor

Rule H. Res. 1254 passed House.

July 26, 2022 • 7:55 PM

HouseFloor

Considered under the provisions of rule H. Res. 1254. (consideration: CR H7211-7220; text: CR H7211-7212)

July 27, 2022 • 3:43 PM

HouseFloor

Rule provides for consideration of H.R. 3771, H.R. 5118 and H.R. 6929. Rule provides for consideration under structured rules for H.R. 3771, H.R. 5118 and H.R. 6929, and provides for one hour of general debate on each bill.

July 27, 2022 • 3:43 PM

HouseFloor

DEBATE - The House proceeded with one hour of debate on H.R. 6929.

July 27, 2022 • 3:44 PM

HouseFloor

DEBATE - Pursuant to the Provisions of H.Res. 1254, the House proceeded with 10 minutes of debate on the Scott (VA) Part E amendment.

July 27, 2022 • 4:35 PM

HouseFloor

Motion to reconsider laid on the table Agreed to without objection.

July 27, 2022 • 4:45 PM

HouseFloor

Passed/agreed to in House: On passage Passed by the Yeas and Nays: 254 - 175 (Roll no. 396).

July 27, 2022 • 5:34 PM

HouseFloor

On passage Passed by the Yeas and Nays: 254 - 175 (Roll no. 396).

July 27, 2022 • 5:34 PM

SenateIntro Referral

Received in the Senate.

July 28, 2022

Floor Debate

23 members

What members said about H.R. 6929 on the floor

13 Republicans10 Democrats
Michael F. Bennet
Sen. Michael F. BennetD-CO · Aug 4, 2022

Mr. President, I wanted to come down here tonight to talk a little bit about the bill that we have in front of us this weekend, the Inflation Reduction Act. I have been in the Senate for 13 years,…

Roger Marshall
Sen. Roger MarshallR-KS · Aug 4, 2022

Mr. President, I rise in objection to this bill because it is an outrageous attack on life-affirming pregnancy resource centers. As a pro-life obstetrician, I have had the pleasure and honor of…

Robert Menendez
Sen. Robert MenendezD-NJ · Aug 4, 2022

Mr. President, I want to thank my colleague Senator Warren for beginning this debate, and we will move to a consent shortly. I want to thank her for working together with me on this most important…

Joe Neguse
Rep. Joe NeguseD-CO-2 · Jul 26, 2022

Mr. Speaker, by direction of the Committee on Rules, I call up House Resolution 1254 and ask for its immediate consideration. Mr. Speaker, for the purpose of debate only, I yield the customary 30…

Edward J. Markey
Sen. Edward J. MarkeyD-MA · Aug 4, 2022

Mr. President, 12 years ago, the U.S. Congress was on the precipice of passing historic climate legislation--legislation that may not have been perfect but would have cut carbon pollution by 80…

Show 8 more
Virginia Foxx
Rep. Virginia FoxxR-NC-5 · Jul 27, 2022

Madam Speaker, I yield myself such time as I may consume. Madam Speaker, when it comes to bailouts, Congress just can't seem to help itself. Under President Biden, taxpayers have been forced to…

Jack Reed
Sen. Jack ReedD-RI · Aug 4, 2022

Mr. President, I rise today to urge my colleagues to support the swift passage of the Inflation Reduction Act. In the wake of COVID-19, global supply chains have been strained. There has been…

Ted Cruz
Sen. Ted CruzR-TX · Aug 4, 2022

Madam President, I rise today to discuss the acute dangers to American national security that have formed and are deepening across the Western Hemisphere. These dangers have coalesced because of the…

Daniel T. Kildee
Rep. Daniel T. KildeeD-MI-5 · Jul 27, 2022

Madam Speaker, pursuant to House Resolution 1254, I call up the bill (H.R. 6929) to increase the benefits guaranteed in connection with certain pension plans, and for other purposes, and ask for its…

Michael C. Burgess
Rep. Michael C. BurgessR-TX-26 · Jul 26, 2022

Mr. Speaker, I thank Mr. Neguse for yielding me the customary 30 minutes, and I yield myself such time as I may consume. Mr. Speaker, today's rule provides for consideration of three bills, three…

Sherrod Brown
Sen. Sherrod BrownD-OH · Aug 4, 2022

Mr. President, the men and women at the company Delphi Technologies helped make General Motors the world's largest automaker. Yet those workers lost the retirement they earned through no fault of…

Elizabeth Warren
Sen. Elizabeth WarrenD-MA · Aug 4, 2022

Mr. President, across this country, Americans are facing aggressive attacks on their reproductive freedom. An extremist Supreme Court and radical rightwing politicians have made clear that they see…

John Hoeven
Sen. John HoevenR-ND · Aug 4, 2022

Madam President, I am pleased to join my colleagues in talking about the tax-and-spend bill that is being put forward by our colleagues on the other side of the aisle. I rise today to discuss the…

Show 11 more
Marco Rubio
Sen. Marco RubioR-FL · Aug 4, 2022

Mr. President, as if in legislative session, I ask unanimous consent that the Committee on Health, Education, Labor, and Pensions be discharged from further consideration of S. 4394 and the Senate…

Deb Fischer
Sen. Deb FischerR-NE · Aug 4, 2022

Madam President, while we haven't yet seen any bill text for this reckless tax-and-spending bill, we have seen or we have heard an outline of it, some chatter about it, snippets about it--about what…

Rand Paul
Sen. Rand PaulR-KY · Aug 4, 2022

Mr. President, gas prices are 64 percent higher in my home State of Kentucky than they were in January of 2021. This means Kentuckians are paying $1.43 more for gas than they were at the beginning of…

John Boozman
Sen. John BoozmanR-AR · Aug 4, 2022

Madam President, as cochair of the Senate Recycling Caucus, I am all for efforts to reuse material in a manner that gives it a second life unless we are talking about recycling bad ideas. The…

John Katko
Rep. John KatkoR-NY-24 · Jul 26, 2022

Mr. Speaker, I rise today to oppose the previous question so we can immediately consider H. Res. 1255 led by my good friend and colleague Michael Guest, the vice ranking member of the Committee on…

Daniel T. Kildee
Rep. Daniel T. KildeeD-MI-5 · Jul 26, 2022

Mr. Speaker, I thank the gentleman from Colorado (Mr. Neguse), my friend, for yielding to me to speak in favor of this rule, which includes consideration of legislation that I and others drafted, the…

Robert C. "Bobby" Scott
Rep. Robert C. "Bobby" ScottD-VA-3 · Jul 27, 2022

Madam Speaker, I have an amendment at the desk made in order under the rule. Madam Speaker, I yield myself such time as I may consume. Madam Speaker, this amendment is simple and straightforward. It…

Patrick Ryan
Rep. Patrick RyanD-NY-19 · Jul 27, 2022

Madam Speaker, 13 years; 13 years. I have been in Congress now for a little while, and I cannot begin to tell you what an example that the Delphi salaried retirees have set. It is the absolute gold…

Michael Guest
Rep. Michael GuestR-MS-3 · Jul 26, 2022

Mr. Speaker, I rise to oppose the previous question so that we may immediately consider H. Res. 1255. This resolution expresses support for the United States Border Patrol agents and condemns the…

August Pfluger
Rep. August PflugerR-TX-11 · Jul 26, 2022

Mr. Speaker, I thank the ranking member for yielding. I rise today to oppose the previous question so we can immediately consider H.R. 1255 and bring forward my good friend Mr. Guest's resolution…

Rob Portman
Sen. Rob PortmanR-OH · Aug 4, 2022

Mr. President, I thank my colleague from Ohio, Senator Brown, and I thank him for working with us on this bipartisan legislation that impacts thousands of retirees in our home State of Ohio. In the…

Bill Text

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Received in SenateIssued July 28, 2022

II

117th CONGRESS

2d Session

H. R. 6929

IN THE SENATE OF THE UNITED STATES

July 28, 2022

Received

AN ACT

To increase the benefits guaranteed in connection with certain pension plans, and for other purposes.

1.

Short title

This Act may be cited as the Susan Muffley Act of 2022.

2.

Guaranteed benefit calculation for certain plans

(a)

In general

(1)

Increase to full vested plan benefit

(A)

In general

For purposes of determining what benefits are guaranteed under section 4022 of the Employee Retirement Income Security Act of 1974 (in this section referred to as ERISA) with respect to an eligible participant or beneficiary under a covered plan specified in paragraph (4) in connection with the termination of such plan, the amount of monthly benefits shall be equal to the full vested plan benefit with respect to the participant.

(B)

No effect on previous determinations

Nothing in this Act shall be construed to change the allocation of assets and recoveries under sections 4044(a) and 4022(c) of ERISA as previously determined by the Pension Benefit Guaranty Corporation (in the section referred to as the corporation) for the covered plans specified in paragraph (4), and the corporation’s applicable rules, practices, and policies on benefits payable in terminated single-employer plans shall, except as otherwise provided in this section, continue to apply with respect to such covered plans.

(2)

Recalculation of certain benefits

(A)

In general

In any case in which the amount of monthly benefits with respect to an eligible participant or beneficiary described in paragraph (1) was calculated prior to the date of enactment of this Act, the corporation shall recalculate such amount pursuant to paragraph (1), and shall adjust any subsequent payments of such monthly benefits accordingly, as soon as practicable after such date.

(B)

Lump-sum payments of past-due benefits

Not later than 180 days after the date of enactment of this Act, the corporation, in consultation with the Secretary of the Treasury and the Secretary of Labor, shall make a lump-sum payment to each eligible participant or beneficiary whose guaranteed benefits are recalculated under subparagraph (A) in an amount equal to—

(i)

in the case of an eligible participant, the excess of—

(I)

the total of the full vested plan benefits of the participant for all months for which such guaranteed benefits were paid prior to such recalculation, over

(II)

the sum of any applicable payments made to the eligible participant; and

(ii)

in the case of an eligible beneficiary, the sum of—

(I)

the amount that would be determined under clause (i) with respect to the participant of which the eligible beneficiary is a beneficiary if such participant were still in pay status; plus

(II)

the excess of—

(aa)

the total of the full vested plan benefits of the eligible beneficiary for all months for which such guaranteed benefits were paid prior to such recalculation, over

(bb)

the sum of any applicable payments made to the eligible beneficiary.

Notwithstanding the previous sentence, the corporation shall increase each lump-sum payment made under this subparagraph to account for foregone interest in an amount determined by the corporation designed to reflect a 6 percent annual interest rate on each past-due amount attributable to the underpayment of guaranteed benefits for each month prior to such recalculation.
(C)

Eligible participants and beneficiaries

(i)

In general

For purposes of this section, an eligible participant or beneficiary is a participant or beneficiary who—

(I)

as of the date of the enactment of this Act, is in pay status under a covered plan or is eligible for future payments under such plan;

(II)

has received or will receive applicable payments in connection with such plan (within the meaning of clause (ii)) that does not exceed the full vested plan benefits of such participant or beneficiary; and

(III)

is not covered by the 1999 agreements between General Motors and various unions providing a top-up benefit to certain hourly employees who were transferred from the General Motors Hourly-Rate Employees Pension Plan to the Delphi Hourly-Rate Employees Pension Plan.

(ii)

Applicable payments

For purposes of this paragraph, applicable payments to a participant or beneficiary in connection with a plan consist of the following:

(I)

Payments under the plan equal to the normal benefit guarantee of the participant or beneficiary.

(II)

Payments to the participant or beneficiary made pursuant to section 4022(c) or otherwise received from the corporation in connection with the termination of the plan.

(3)

Definitions

For purposes of this subsection—

(A)

Full vested plan benefit

The term full vested plan benefit means the amount of monthly benefits that would be guaranteed under section 4022 of ERISA as of the date of plan termination with respect to an eligible participant or beneficiary if such section were applied without regard to the phase-in limit in subsection (b)(1) of such Act and the maximum guaranteed benefit limitation in subsection (b)(3) of such Act (including the accrued-at-normal limitation).

(B)

Normal benefit guarantee

The term normal benefit guarantee means the amount of monthly benefits guaranteed under such section with respect to an eligible participant or beneficiary without regard to this Act.

(4)

Covered plans

The covered plans specified in this paragraph are the following:

(A)

The Delphi Hourly-Rate Employees Pension Plan.

(B)

The Delphi Retirement Program for Salaried Employees.

(C)

The PHI Non-Bargaining Retirement Plan.

(D)

The ASEC Manufacturing Retirement Program.

(E)

The PHI Bargaining Retirement Plan.

(F)

The Delphi Mechatronic Systems Retirement Program.

(5)

Treatment of PBGC determinations

Any determination made by the corporation under this section concerning a recalculation of benefits or lump-sum payment of past-due benefits shall be subject to administrative review by the corporation. Any new determination made by the corporation under this section shall be governed by the same administrative review process as any other benefit determination by the corporation.

(b)

Trust fund for payment of increased benefits

(1)

Establishment

There is established in the Treasury of the United States a trust fund to be known as the Delphi Full Vested Plan Benefit Trust Fund (hereafter in this subsection referred to as the Fund), consisting of such amounts as may be appropriated or credited to the Fund as provided in this section.

(2)

Funding

There is appropriated from the general fund such amounts as are necessary for the costs of the payment of the portion of monthly benefits guaranteed to a participant or beneficiary pursuant to subsection (a) and for necessary administrative and operating expenses of the corporation relating to such payment. The Fund shall be credited with amounts from time to time as the Secretary of the Treasury, in conjunction with the Director of the corporation, determines appropriate, from the general fund of the Treasury.

(3)

Expenditures from Fund

Amounts in the Fund shall be available for the payment of the portion of monthly benefits guaranteed to a participant or beneficiary pursuant to subsection (a) and for necessary administrative and operating expenses of the corporation relating to such payment.

(c)

Regulations

The corporation, in consultation with the Secretary of the Treasury and the Secretary of Labor, may issue such regulations as necessary to carry out this section.

(d)

Tax treatment of lump-Sum payments

(1)

In general

Unless the taxpayer elects (at such time and in such manner as the Secretary may provide) to have this paragraph not apply with respect to any lump-sum payment under subsection (a)(2)(B), the amount of such payment shall be included in the taxpayer’s gross income ratably over the 3-taxable-year period beginning with the taxable year in which such payment is received.

(2)

Special rules related to death

(A)

In general

If the taxpayer dies before the end of the 3-taxable-year period described in paragraph (1), any amount to which paragraph (1) applies which has not been included in gross income for a taxable year ending before the taxable year in which such death occurs shall be included in gross income for such taxable year.

(B)

Special election for surviving spouses of eligible participants

If—

(i)

a taxpayer with respect to whom paragraph (1) applies dies,

(ii)

such taxpayer is an eligible participant,

(iii)

the surviving spouse of such eligible participant is entitled to a survivor benefit from the corporation with respect to such eligible participant, and

(iv)

such surviving spouse elects (at such time and in such manner as the Secretary may provide) the application of this subparagraph,

subparagraph (A) shall not apply and any amount which would have (but for such taxpayer’s death) been included in the gross income of such taxpayer under paragraph (1) for any taxable year beginning after the date of such death shall be included in the gross income of such surviving spouse for the taxable year of such surviving spouse ending with or within such taxable year of the taxpayer.
3.

Pension variable rate premium payment acceleration

Notwithstanding section 4007(a) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1307(a)) and section 4007.11 of title 29, Code of Federal Regulations, any additional premium determined under subparagraph (E) of section 4006(a)(3) of such Act (29 U.S.C. 1306(a)(3)) the due date for which is (but for this section) after September 15, 2032, and before November 1, 2032, shall be due not later than September 15, 2032.

4.

Pension benefit guaranty corporation report

(a)

Request for information

Not later than 1 year after the date of enactment of this Act, the Director of the Pension Benefit Guaranty Corporation shall issue a request for information to the public regarding ways to ensure the long-term solvency of the Pension Benefit Guaranty Corporation’s insurance programs.

(b)

Report to Congress

Not later than 2 years after the date of enactment of this Act, the Director of the Pension Benefit Guaranty Corporation shall, taking into consideration the information received in the request for information described in subsection (a), submit a report, which shall include recommendations on how to ensure the long-term solvency of the Pension Benefit Guaranty Corporation’s insurance programs, to the Committee on Education and Labor and the Committee on Ways and Means of the House of Representatives and the Committee on Health, Education, Labor, and Pensions and the Committee on Finance of the Senate.

Passed the House of Representatives July 27, 2022.

Cheryl L. Johnson,

Clerk.