Labor Management Racketeering Act of 1983

Labor Management Racketeering Act of 1983 - Amends the Labor Management Relations Act, 1947 (Taft-Hartley Act) to increase penalties for specified violations of restrictions on financial transactions. Makes violations involving more than $1,000 felonies punishable by up to $15,000 fines and/or five years' imprisonment.

Adds intent to benefit a person not permitted to receive payments, loans, or delivery of money or other thing of value to a labor organization in payment of membership dues, to a joint labor-management trust fund, or to a plant, area, or industry- wide labor-management committee as an element of violations involving those transactions. Grants civil jurisdiction to U.S. district courts over suits brought by: (1) the United States alleging a violation involving those transactions; or (2) any person directly affected by violations of restrictions on financial transactions under such Act.

Amends the Employee Retirement Income Security Act of 1974 (ERISA) and the Labor-Management Reporting and Disclosure Act of 1959 to revise provisions which prohibit persons guilty of criminal offenses from holding specified offices or positions involving employee benefit plans, labor organizations, or labor relations consultation to employer organizations. Increases the types of positions from which an individual is barred upon conviction of enumerated crimes. Requires immediate removal of such individual from such a position upon conviction (rather than after appeal) of enumerated crimes and crimes relating to the position. Increases from five years to ten years the time during which a convicted individual is prohibited from holding such offices or positions, but permits a lesser period to be set by the sentencing court under specified circumstances. Prohibits any person from knowingly hiring, retaining, employing, or otherwise placing any other person to serve in a capacity in violation of such prohibitions. Raises from one year to five years the maximum time of imprisonment for violations of such prohibitions.

Provides that any salary payable but for such prohibitions shall be placed in escrow pending final disposition of any appeal.

Makes any conviction entered prior to the enactment of this Act effective on the date of such conviction if a right of appeal from such conviction is pending on the date of enactment of this Act (i.e., makes retroactive the provisions of the Act which bar convicted union officials from office immediately upon conviction).