Making All Fund Information Available Act

This bill requires labor unions to give employees detailed financial information about any defined benefit pension plan tied to union representation, at least three days before a union election, and provides penalties for violations.

Sec. 2, Requirement for labor organizations to provide information regarding defined benefit plans before any labor organization election: The bill defines key terms like "defined benefit plan," "labor organization," and "labor organization election" (including decertification votes). A union that is or would become the bargaining representative must, at least three days before an election, provide employees a notice stating the plan's funding percentage (ratio of assets to liabilities), what portion of a new employee's contribution would go to their own benefits versus existing participants' benefits, and if the plan is under 100% funded, the estimated reduction in monthly benefits at retirement and the amount the Pension Benefit Guaranty Corporation would pay if the plan terminated. If the plan is under 100% funded, the union must also give employees access to a financial expert, independent of the plan and union, at no cost to employees, for the three days before the election. Within 30 days after the election, the union must give all written materials provided to employees to the Office of Labor-Management Standards, which must post them publicly on its website.

Sec. 2(c), Enforcement: It is a crime, punishable by a fine and up to five years in prison, to lie to or mislead an employee in the required notice or expert answers. Any employee harmed by a violation can sue for actual damages and may recover costs and attorney's fees. If the Assistant Secretary of Labor for Employee Benefits Security finds evidence of such lying or misleading, they must refer the matter to the Attorney General and provide the evidence to the National Labor Relations Board. The bill also amends the National Labor Relations Act to require the NLRB to invalidate any election whose results were influenced by such lying or misleading, or if the union failed to provide the required information, and to bar a new election until the Assistant Secretary confirms the union has complied.