Political Quotes

“I ask unanimous consent that the Senate proceed to the immediate consideration of Calendar No. 552, S. 2511. The ACTING PRESIDENT pro tempore. The clerk will report the bill by title. The assistant legislative clerk read as follows: A bill (S. 2511) to amend the Employee Retirement Income Security Act of 1974 to clarify the definition of substantial cessation of operations. There being no objection, the Senate proceeded to consider the bill, which had been reported from the Committee on Health, Education, Labor, and Pensions, with an amendment to strike all after the enacting clause and insert in lieu thereof the following: SECTION 1. SUBSTANTIAL CESSATION OF OPERATIONS. (a) In General.--Subsection (e) of section 4062 of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1362) is amended to read as follows: ``(e) Treatment of Substantial Cessation of Operations.-- ``(1) General rule.--Except as provided in paragraphs (3) and (4), if there is a substantial cessation of operations at a facility in any location, the employer shall be treated with respect to any single employer plan established and maintained by the employer covering participants at such facility as if the employer were a substantial employer under a plan under which more than one employer makes contributions and the provisions of sections 4063, 4064, and 4065 shall apply.…”