3.0.0 9 2023-01-15T21:34:04Z 2023-01-15T21:34:04Z Senate S S 2003-01-07 108 ssfi00 Finance Committee Senate Standing Referred to 2003-01-07T22:12:31Z 2003-01-07 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2003-01-07 Sponsor introductory remarks on measure. (CR 1/9/2003 S134) IntroReferral B00100 9 Library of Congress 2003-01-07 Introduced in Senate IntroReferral 10000 9 Library of Congress D000064 Sen. Daschle, Thomas A. [D-SD] THOMAS DASCHLE D SD ANDREW N K000105 Sen. Kennedy, Edward M. [D-MA] EDWARD KENNEDY D MA MOORE 2003-01-07 True B000468 Sen. Bingaman, Jeff [D-NM] JESSE BINGAMAN D NM FRANCIS 2003-01-07 True M000702 Sen. Mikulski, Barbara A. [D-MD] BARBARA MIKULSKI D MD ANN 2003-01-07 True D000563 Sen. Durbin, Richard J. [D-IL] Richard Durbin D IL J. 2003-01-07 True C001041 Sen. Clinton, Hillary Rodham [D-NY] HILLARY CLINTON D NY R 2003-01-07 True R000361 Sen. Rockefeller, John D., IV [D-WV] JAY ROCKEFELLER D WV 2003-01-07 True M001111 Sen. Murray, Patty [D-WA] Patty Murray D WA 2003-01-07 True S000148 Sen. Schumer, Charles E. [D-NY] Charles Schumer D NY E. 2003-01-07 True D000596 Sen. Dayton, Mark [D-MN] MARK DAYTON D MN 2003-01-07 True R000146 Sen. Reid, Harry [D-NV] HARRY REID D NV M. 2003-01-07 True D000388 Sen. Dodd, Christopher J. [D-CT] CHRISTOPHER DODD D CT JOHN 2003-01-09 False L000174 Sen. Leahy, Patrick J. [D-VT] Patrick Leahy D VT 2003-01-09 False Labor and Employment Accounting Administrative procedure Age discrimination Annuities Business records Chief executive officers Civil Rights and Liberties, Minority Issues Civil service retirement Collective bargaining Commerce Conflict of interests Corporation taxes Debtor and creditor Defined benefit pension plans Defined contribution plans Department of the Treasury Early retirement Employee ownership Employee rights Employee stock options Excise tax Executive compensation Finance and Financial Sector Financial statements Golden parachutes Government Operations and Politics Government corporations Governmental investigations Income tax Insider trading in securities Insurance premiums Interest Interest rates Internet Investments Law Liability (Law) Loans Pension Benefit Guaranty Corporation Pension funds Pension trust guaranty insurance Science, Technology, Communications Severance pay Small business Social Welfare Social security taxes Stocks Surety and fidelity Tax penalties Tax rates Tax returns Tax-deferred compensation plans Tax-exempt organizations Taxation Trusts and trustees Web sites Withholding tax Labor and Employment 00 2003-01-07 Introduced in Senate 2006-11-28T17:35:40Z Retirement Security for All Americans Act - Amends IRC to permit a tax credit for an applicable percentage of up to $2,000 in retirement savings contributions of an individual. Repeals the nonrefundable credit for elective deferrals and individual retirement account contributions. Imposes a tax on any failure by an employer (except for certain small employers) that does not have a qualified plan or arrangement for a calendar year to permit its employees access to salary reduction contributions to individual retirement plans. Permits a tax credit for small employers that maintain salary reduction arrangements. Allows a tax credit for a duration of three years for pension plan contributions of small employers.

Women's Pension Protection Act of 2003 - Amends ERISA and IRC to require the spouse's consent for distributions from defined contribution plans (DCPs, which include individual account plans such as 401(k) plans). (Current law only requires such consent in the case of defined benefit plans). Applies joint and survivor annuity rules to DCPs. Provides for division of pension benefits upon divorce, including rules for treating: (1) subsequent qualified domestic relations orders; and (2) former spouses as surviving spouses in certain cases. Revises requirements for joint and survivor annuities. Requires pension plans to offer participants the option of a qualified joint and 3/4 survivor annuity. Amends Federal law relating to the Civil Service Retirement System (CSRS) to provide for a survivor annuity to widows, widowers, and certain former spouses of Federal employees who die after having separated from the service with title to a deferred annuity under CSRS, but before attaining the age for such annuity under it. Revises CSRS and Federal Employees Retirement System (FERS) requirements for court orders relating to Federal employee retirement benefits for former spouses. Amends the Railroad Retirement Act of 1974 to: (1) entitle divorced spouses to railroad retirement annuities independent of the actual entitlement of the employees; and (2) extend the payment of any portion of Tier II railroad retirement benefits to surviving former spouses pursuant to divorce agreements.

Sets forth provisions relating to: (1) an employee plans compliance resolution system; (2) extension to all governmental plans of a moratorium on application of certain nondiscrimination rules applicable to State and local plans; (3) missing participants; (4) a reduced Pension Benefit Guaranty Corporation (PBGC) premium for new plans of small employers; (5) substantial owner benefits in terminated plans; (6) voluntary early retirement incentive and employment retention plans maintained by local educational agencies and other entities; (7) automatic rollovers of certain mandatory distributions; (8) no reduction in unemployment compensation as a result of pension rollovers; (9) tax withholding on distributions from certain governmental plans; (10) transfer of pension plan liabilities upon dissolution of joint venture; and (11) plan amendments.

Amends IRC to provide revenue offsets through: (1) reversal of the expatriation of certain profits offshore, including setting rules for tax treatment of inverted corporate entities, imposing an excise tax on stock compensation of insiders in inverted corporations, and reinsuring U.S. risks in foreign jurisdictions; (2) revisions and penalties relating to tax shelters; and (3) executive compensation. Includes in gross income funded deferred compensation of corporate insiders.]]>

Pension Protection and Expansion Act of 2003 Display Title Pension Protection and Expansion Act of 2003 Official Title as Introduced 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. Introduced in Senate IS Short Titles as Introduced Pension Protection and Expansion Act of 2003 Short Titles as Introduced for portions of this bill Women's Pension Protection Act of 2003 Short Titles as Introduced for portions of this bill Retirement Security for All Americans Act Introduced in Senate 2003-01-07T05:00:00Z 2003-01-07 Read twice and referred to the Committee on Finance. 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.