H.R.567 - Public Employee Pension Transparency Act

To amend the Internal Revenue Code of 1986 to provide for reporting and disclosure by State and local public employee retirement pension plans. view all titles (2)

All Bill Titles

  • Official: To amend the Internal Revenue Code of 1986 to provide for reporting and disclosure by State and local public employee retirement pension plans. as introduced.
  • Short: Public Employee Pension Transparency Act as introduced.

This Bill currently has no wiki content. If you would like to create a wiki entry for this bill, please Login, and then select the wiki tab to create it.

Bill’s Views

  • Today: 1
  • Past Seven Days: 5
  • All-Time: 3,586
 
Introduced
 
House
Passes
 
Senate
Passes
 
President
Signs
 

 
02/09/11
 
 
 
 
 
 
 

Sponsor

Representative

Devin Nunes

R-CA

View Co-Sponsors (51)

Official Summary

Public Employee Pension Transparency Act - Amends the Internal Revenue Code to deny tax benefits relating to bonds issed by a state or political subdivision during any period in which such state or political subdivision is noncompliant with specified reporting requirements for state or loca

Official Summary

Public Employee Pension Transparency Act - Amends the Internal Revenue Code to deny tax benefits relating to bonds issed by a state or political subdivision during any period in which such state or political subdivision is noncompliant with specified reporting requirements for state or local government employee pension benefit plans. Requires plan sponsors of a state or local government employee pension benefit plan to file with the Secretary of the Treasury an annual report setting forth:
(1) a schedule of the funding status of the plan;
(2) a schedule of contributions by the plan sponsor for the plan year;
(3) alternative projections for each of the next 20 plan years relating to the amount of annual conotributions, the fair market value of plan assets, current liability, the funding percentage, and other matters specified by the Secretary;
(4) a statement of the actuarial assumptions used for the plan year;
(5) a statement of the number of plan participants who are retired or separated from service and are either receiving benefits or are entitled to future benefits and those who are active under the plan;
(6) a statement of the plan's investment returns;
(7) a statement of the degree to which unfunded liabilities are expected to be eliminated; and
(8) a statement of the amount of pension obligation bonds outstanding. Directs the Secretary  to develop model reporting statements and create and maintain a public website, with searchable capabilities, for purposes of posting plan information required by this Act.

...Read the Rest

Organizations Supporting H.R.567

  • National Federation of Independent Business
  • Free Enterprise Nation
  • Americans for Tax Reform
  • American Conservative Union
  • U. S. Chamber of Commerce

Organizations Opposing H.R.567

  • The National Council on Teacher Retirement
  • National Association of Counties
  • National Association of State Auditors Comptrollers and Treasurers
  • International Personnel Management Association for Human Resources


Latest Letters to Congress

See All Letters (1)
 


Vote on This Bill

60% Users Support Bill

3 in favor / 2 opposed
 

Send Your Rep a Letter

about this bill Support Oppose Tracking
Track with MyOC