3.0.0 5398 2023-01-14T22:48:32Z 2023-01-14T22:48:32Z House H HR 2004-11-19 108 hswm00 Ways and Means Committee House Standing Referred to 2004-11-19T14:01:00Z 2004-11-19 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2004-11-19 Introduced in House IntroReferral Intro-H 9 Library of Congress 2004-11-19 Introduced in House IntroReferral 1000 9 Library of Congress A000210 Rep. Andrews, Robert E. [D-NJ-1] ROBERT ANDREWS D NJ E. 1 N Labor and Employment Accounting Administrative procedure Administrative remedies Annuities Bonds Brokers Business records Civil Rights and Liberties, Minority Issues Civil service retirement Collective bargaining Commerce Compensation (Law) Computer software Conflict of interests Congress Consumer complaints Consumer education Corporate divestiture Defined benefit pension plans Defined contribution plans Department of Labor Department of the Treasury Discrimination Divorce Employee ownership Excise tax Executive compensation Executives Families Federal preemption Fees Finance and Financial Sector Financial planning Financial services Financial statements Flexible benefit plans Government Operations and Politics Government paperwork Governmental investigations Health Health insurance Household workers Income tax Individual retirement accounts Information disclosure (Securities law) Insurance companies Insurance premiums Interest Investment advisers Investments Labor contracts Law Layoffs Loans Local employees Married people Medical economics Payroll deductions Pension funds Pension trust guaranty insurance Railroad retirement plans Retirement age Risk Saving and investment Science, Technology, Communications Securities Separation (Law) Small business Social Welfare State employees State laws Stocks Sunset legislation Support of dependents Survivors' benefits Tax administration Tax credits Tax deductions Tax penalties Tax refunds Tax-deferred compensation plans Taxation Trusts and trustees Valuation Women Women's retirement Labor and Employment 00 2004-11-19 Introduced in House 2005-01-03T18:23:58Z Retirement Enhancement Revenue Act of 2004 - Amends the Internal Revenue Code to revise rules relating to tax-exempt retirement and employee benefit plans.

Imposes new qualification, reporting, and disclosure requirements for public employee pension plans.

Revises pension rules to provide for: (1) automatic enrollment of all eligible employees in 401(k) plans; (2) diversification of defined contribution plans that hold employer securities; (3) an increase to age 75 for beginning mandatory distributions from retirement plans; (4) restrictions on the exclusion of unionized employees from 401(k) plan participation; and (5) removal of the $5,000 limit on certain mandatory retirement plan distributions.

Makes the tax credit for retirement savings contributions refundable and permanent. Allows certain small employers a business tax credit for contributions to employee pension plans.

Modifies requirements for joint and survivor annuities and for railroad retirement benefits for divorced and former spouses.

Revises rules for defined benefit plans to permit such plans to include 401(k) plans. Modifies certain defined benefit plan eligibility rules.

Allows: (1) an exemption from prohibited transaction restrictions for certain transactions between an employee benefit plan and a plan participant (i.e., aborted emergent transactions); (2) loans from retirement plans for health insurance and job training expenses; (3) income averaging of corrected civil service annuity benefit payments; and (4) an exemption from prohibited transaction penalties for certain employer-provided investment advice.

]]> Retirement Enhancement Revenue Act of 2004 Display Title Retirement Enhancement Revenue Act of 2004 Official Title as Introduced To amend the Internal Revenue Code of 1986 to improve the retirement security of American families. Introduced in House IH Short Titles as Introduced Retirement Enhancement Revenue Act of 2004 Introduced in House 2004-11-19T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-108hr5398ih/xml/BILLS-108hr5398ih.xml 2004-11-19 Referred to the House Committee on Ways and Means. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.