The bill would change federal rules for employee benefit plans. It would make agreements requiring people to arbitrate future plan-related claims unenforceable. Arbitration agreements made after a dispute could be valid only if they are voluntary, provided with a paper notice, followed by a 45-day waiting period, and signed in writing. The bill would also bar agreements that waive certain individual or group claims. For plans other than multiemployer plans, courts would review benefit decisions and plan-language interpretations without deferring to the plan’s discretion. Courts, not arbitrators, would decide whether an arbitration agreement can be enforced.
Participants and beneficiaries could bring covered claims in court rather than be forced into arbitration or blocked from joining certain claims. A person could agree to arbitration after a dispute only under the bill’s stated conditions. The changes would apply to claims arising on or after enactment, even if an older plan document contains a different term.
The bill does not specify expenses or funding.
No publicly available information.
No publicly available information.