Protecting Workers’ Benefits Act

This bill changes federal retirement and benefit plan law (ERISA) to add plans to the list of parties that can sue over breaches of fiduciary duty. It allows a plan participant or beneficiary to sue on behalf of the plan as its assignee and requires them to serve a copy of the complaint on the plan. Money recovered through a win or settlement would be treated as a plan asset. A participant who brings a successful or settled case would receive 0.5 to 1 percent of the amount recovered, plus other relief such as costs, shared among plaintiffs if there are several. Participants would have to move to combine their case with any pending case making substantially the same claims.

Full text and official record on Congress.gov

Sponsors

• Robert C. "Bobby" Scott Democrat sponsor
• 0 cosponsors