Making All Fund Information Available Act

The Making All Fund Information Available Act (S 4328) requires unions to provide employees with clear, specific information about the funding status of defined benefit pension plans before any union election. This includes the percentage of plan assets covering liabilities, how employee contributions would be allocated, and, if underfunded, estimated retirement benefits compared to full funding and the Pension Benefit Guaranty Corporation's protection. Unions must also make an independent financial expert available for three days before the election if a plan is underfunded (less than 100% funded), and submit all materials to the government for public posting within 30 days. Violations can result in criminal penalties, civil lawsuits, or election invalidation by the National Labor Relations Board.