Pension Protection Technical Corrections Act of 2008

To make technical corrections related to the Pension Protection Act of 2006, and for other purposes.

7/9/2008--Passed House without amendment. (This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.) Pension Protection Technical Corrections Act of 2008 - Title I: Technical Corrections Related to the Pension Protection Act of 2006 -
(Sec. 101) Makes technical corrections to the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code to conform to the Pension Protection Act of 2006 regarding various specified items, including:
(1) the target normal cost of benefits;
(2) specified implementation and effective dates for certain requirements;
(3) one-participant retirement plans;
(4) special age-related rules in accrued benefit requirements for applicable defined benefit plans;
(5) inapplicability in certain cases of the limitation on income deductions (for tax purposes) for employer contributions to one or more defined contribution plans; and
(6) adjustments to averaging in the determination of the value of the assets of single-employer defined benefit pension plans for minimum funding purposes.
(Sec. 110) Makes technical corrections to the Railroad Retirement Act of 1974 with respect to railroad retirement payments to persons not entitled to an annuity. Title II: Other Provisions -
(Sec. 201) Requires that the value of assets for any ERISA plan under the averaging method be adjusted for expected earnings (in addition to contributions and distributions, as under current law).
(Sec. 202) Modifies the interest rate assumption required with respect to certain small employer plans.
(Sec. 203) Makes technical corrections to the Age Discrimination in Employment Act of 1967 with respect to special age-related rules for determination of the market rate of return in the calculation of interest credits in governmental defined benefit plans.
(Sec. 204) Prescribes a special rule for exclusion from gross income of certain reimbursements from governmental plans for health care expenses of a deceased plan participant's beneficiary.
(Sec. 205) Requires treatment as a qualified rollover contribution of any airline payment amount received by a qualified airline employee in an airline carrier bankruptcy which is transferred to a Roth IRA.
(Sec. 206) Increases by $4 the penalties for failure to file partnership returns and S corporation returns.


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Sponsor

• Rep. Charles Rangel [D, NY-15]
• and 1 Co-Sponsors
  • Rep. George Miller [D, CA-7]
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Committees

• Senate Health, Education, Labor, and Pensions
• 2 more
  • House Ways and Means
  • House Education and Labor
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Amendments

This bill has no amendments.

Amendments to H.R.6382

Number	Status	Purpose

Bill Status

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Introduced		Voted on by House		Voted on by Senate		Considered By President		Bill Becomes Law
June 26, 2008		July 09, 2008

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All Bill Actions

• Aug 01, 2008: Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
• Jul 10, 2008: Received in the Senate.
• Passed by voice vote in the House on Jul 09, 2008. On motion to suspend the rules and pass the bill Agreed to by voice vote.
• Jul 09, 2008: Considered under suspension of the rules.
• Jul 09, 2008: Mr. Pomeroy moved to suspend the rules and pass the bill.
• Jul 09, 2008: DEBATE - The House proceeded with forty minutes of debate on H.R. 6382.
• Jun 26, 2008: Referred to the Committee on Ways and Means, and in addition to the Committee on Education and Labor, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
• Jun 26, 2008: Referred to House Education and Labor
• Jun 26, 2008: Referred to House Ways and Means
• Introduced on Jun 26, 2008.

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Related Issue Areas:

• Pensions
• Administrative procedure
• Airline employees
• Airlines
• 31 more
• Bankruptcy
• Business
• Civil service retirement
• Defined benefit pension plans
• Defined contribution plans
• Department of the Treasury
• Executive departments
• Finance
• Government employees
• Government employees' health insurance
• Government information
• Government paperwork
• Health policy
• Income tax
• Individual retirement accounts
• Interest rates
• Labor
• Law
• Medical care
• Partnerships
• Pension funds
• Small business
• Standards
• Tax deductions
• Tax evasion
• Tax exclusion
• Tax penalties
• Tax returns
• Taxation
• Transportation
• Trusts and trustees

Data from the Congressional Research Service

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Blog Coverage

December 24, 2008 President Signs Pension Bill | Finley & Cook, PLLC

Other provisions in the bill were also included in the Pension Protection Technical Corrections Act of 2008 (HR 6382), originally passed by the Senate in December 2007, and the House in March and July of 2008. ...

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Source: Finley & Cook, PLLC

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December 18, 2008 Worker, Retiree, and Employer Recovery Act Passes Congress

Other provisions in the bill were also included in the Pension Protection Technical Corrections Act of 2008 (HR 6382), originally passed by the Senate in December 2007 and the House in March and July of 2008. ...

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Source: Financial Crisis News Center

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December 11, 2008 planadviser - Pension Relief Bill With RMD Moratorium Slides ...

The House measure, H.R. 7237, which includes a one-year required minimum distribution (RMD) moratorium and a variety of pension funding provisions, passed out of the Senate as H.R. 6382, according to House and Senate records. ...

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Source: Planadviser.com

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