3.0.0 1359 2019-11-15T21:52:51Z 2019-11-15T21:52:51Z Senate S S 2005-06-30 109 ssfi00 Finance Committee Senate Standing Referred to 2005-06-30T21:16:11Z 2005-06-30 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2005-06-30 Introduced in Senate IntroReferral 10000 9 Library of Congress S001142 Sen. Smith, Gordon H. [R-OR] GORDON SMITH R OR H. N C000705 Sen. Conrad, Kent [D-ND] KENT CONRAD D ND 2005-06-30 True Labor and Employment Administrative procedure Annuities Civil service retirement Cost of living adjustments Defined contribution plans Department of the Treasury Employee health benefits Finance and Financial Sector Flexible benefit plans Government Operations and Politics Health Health insurance Income tax Individual retirement accounts Investments Law Life insurance Minorities Native Americans Pension funds Saving and investment State employees Tax credits Tax exclusion Tax refunds Tax-deferred compensation plans Taxation Trusts and trustees Labor and Employment 00 2005-06-30 Introduced in Senate 2005-09-12T18:00:51Z Retirement Savings and Security Act of 2005 - Amends the Internal Revenue Code to: (1) permit tax-exempt retirement and employee benefit plans to include an automatic contribution arrangement; (2) revise the income limits for the tax credit for retirement savings contributions and extend such credit through 2010; (3) permit the contribution of up to $500 of unused health benefits under a health flexible spending arrangement to a qualified retirement plan or a deferred compensation plan; (4) permit direct payment of tax refunds to individual retirement accounts; and (5) exclude from gross income certain lifetime annuity payments; and (6) extend to six months the period for distributing excess contributions to qualified pension plans without penalty.

Amends the Employee Retirement Income Security Act of 1974 (ERISA) to: (1) allow for certain retirement plan rollovers and annuity distributions; (2) treat Indian tribal pension plans as tax-qualified governmental plans; and (3) allow for changes in pension plan investment options.

]]> Retirement Savings and Security Act of 2005 Short Titles as Introduced Retirement Savings and Security Act of 2005 Display Title Retirement Savings and Security Act of 2005 Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to increase retirement savings and security, to facilitate the provision of guaranteed retirement income for life, and to make the retirement plan rules simpler and more equitable, and for other purposes. Introduced in Senate 2005-06-30T04:00:00Z 2005-06-30 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.