Enhances accountability and protection of plan assets under the Employee Retirement Income Security Act of 1974.

The Protecting Workers’ Benefits Act amends the Employee Retirement Income Security Act of 1974 to strengthen accountability and protect plan assets. It allows participants or beneficiaries of a plan to bring actions on behalf of the plan, with any recovered amounts treated as plan assets. Successful plaintiffs receive a percentage of the recovered amount, with equitable distribution if multiple plaintiffs are involved. The bill also mandates consolidation of related actions and equitable distribution of recovered funds among plaintiffs.

Enhances accountability and protection of plan assets under the Employee Retirement Income Security Act of 1974.

The Protecting Workers’ Benefits Act amends the Employee Retirement Income Security Act of 1974 to strengthen accountability and protect plan assets. It allows participants or beneficiaries of a plan to bring actions on behalf of the plan, with any recovered amounts treated as plan assets. Successful plaintiffs receive a percentage of the recovered amount, with equitable distribution if multiple plaintiffs are involved. The bill also mandates consolidation of related actions and equitable distribution of recovered funds among plaintiffs.