S 5097
SLAP Act
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
The Stop Looting American Pensions Act of 2022 (SLAP Act) strengthens protections for employee pensions and benefits during bankruptcy proceedings. It increases the priority of certain claims, including unpaid wages and pension contributions, limits executive pay, and restricts the sale of company assets. The bill also extends the timeframe for challenging fraudulent transfers and enhances the automatic stay to cover pension enforcement actions, aiming to prevent pension funds from being depleted in bankruptcy.
Sponsors
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Primary sponsor
Joe, III Manchin
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