S.219 - Pension Reform bill

A bill to amend the Internal Revenue Code of 1986 and the Employee Retirement Income Security Act of 1974 to protect the retirement security of American workers by ensuring that pension assets are adequately diversified and by providing workers with adequate access to, and information about, their pension plans, and for other purposes. view all titles (4)

All Bill Titles

  • Popular: Pension Reform bill as .
  • Popular: Pension Reform bill.
  • Short: National Employee Savings and Trust Equity Guarantee Act of 2005 as introduced.
  • Official: A bill to amend the Internal Revenue Code of 1986 and the Employee Retirement Income Security Act of 1974 to protect the retirement security of American workers by ensuring that pension assets are adequately diversified and by providing workers with adequate access to, and information about, their pension plans, and for other purposes. as introduced.

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Introduced
 
Senate
Passes
 
House
Passes
 
President
Signs
 

 
01/31/05
 
 
 
 
 
 
 

Official Summary

National Employee Savings and Trust Equity Guarantee Act of 2005- Amends the Internal Revenue Code and the Employee Retirement Income Security Act of 1974 (ERISA) to require defined contribution plans to allow employees to divest employer stock and diversify their pension asset investments.

Official Summary

National Employee Savings and Trust Equity Guarantee Act of 2005- Amends the Internal Revenue Code and the Employee Retirement Income Security Act of 1974 (ERISA) to require defined contribution plans to allow employees to divest employer stock and diversify their pension asset investments. Revises requirements relating to:
(1) information to assist pension plan participants;
(2) protection of plan participants;
(3) pension plan funding and deductions;
(4) the Pension Benefit Guaranty Corporation (PBGC);
(5) replacement of the interest rate of 30-year treasury securities for purposes of funding, PBGC premium rates, and calculating lump-sum distributions;
(6) portability and distribution rules;
(7) the Employee Plans Compliance Resolution System;
(8) spousal pension protection, including spousal consent for distributions from defined contribution plans and division of pension benefits upon divorce;
(9) railroad retirement;
(10) joint and survivor annuity benefits; and
(11) compensation and pensions of Tax Court judges.

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