Sec. 203. Comptroller General report
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/bill/113/s/2418/is/section-203A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Not later than 180 days after the date of enactment of this Act, the Comptroller General of the United States shall submit to Congress a report on the strategies that corporations use to avoid obligations to pay promised employee and retiree benefits. The report under subsection
(a)shall include a discussion of— the use of spin-offs, mergers, subsidiaries, bankruptcies, asset sales, and other strategies to avoid obligations to pay promised employee and retiree benefits; the impact of such avoidance on the financial, physical, and mental well-being of employees and retirees; the impact on Federal and State budgets when employers terminate or reduce the benefits of employees and retirees, including the costs that are incurred when employees and retirees seek assistance from Federal and State government programs and services as a result of the termination or reduction of their employment-related benefits; and recommendations to prevent corporations from evading contractual obligations to pay employee and retiree benefits.