Sec. 104. Financial returns for employees and retirees

229 words·~1 min read·/bill/115/s/2518/is/section-104

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Section 1129(a) of title 11, United States Code is amended— by striking paragraph

(13)and inserting the following: With respect to retiree benefits, as that term is defined in section 1114(a), the plan— provides for the continuation after the effective date of the plan of payment of all retiree benefits at the level established pursuant to subsection (e)(1)(B) or

(g)of section 1114 at any time before the date of confirmation of the plan, for the duration of the period for which the debtor has obligated itself to provide such benefits, or if no modifications are made before confirmation of the plan, the continuation of all such retiree benefits maintained or established in whole or in part by the debtor before the date of the filing of the petition; and provides for recovery of claims arising from the modification of retiree benefits or for other financial returns, as negotiated by the debtor and the authorized representative (to the extent that such returns are paid under, rather than outside of, a plan). ; and by adding at the end the following: The plan provides for recovery of damages payable for the rejection of a collective bargaining agreement, or for other financial returns as negotiated by the debtor and the authorized representative under section 1113 (to the extent that such returns are paid under, rather than outside of, a plan). .