3.0.0 3361 2023-01-11T20:37:40Z 2023-01-11T20:37:40Z House H HR 2007-08-03 110 hsed00 Education and the Workforce Committee House Standing hsed02 Health, Employment, Labor, and Pensions Subcommittee Referred to 2007-09-19T14:05:49Z Referred to 2007-08-03T13:01:50Z hswm00 Ways and Means Committee House Standing Referred to 2007-08-03T13:01:45Z Pension Protection Technical Corrections Act of 2008 110 6382 HR 2008-08-01 Read twice and referred to the Committee on Health, Education, Labor, and Pensions. Related bill CRS Worker, Retiree, and Employer Recovery Act of 2008 110 7327 HR 2008-12-23 Became Public Law No: 110-458. Related bill CRS Pension Protection Technical Corrections Act of 2007 110 1974 S 2007-12-19 Passed Senate with an amendment by Unanimous Consent. (text: CR S16049-16055) Identical bill CRS Related bill House 2008-03-31 Senate Received in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 621. Calendars 2008-03-13 17:59:00 Mr. Stark asked unanimous consent that H.R. 3361 be engrossed in the form submitted to the desk. Agreed to without objection. Floor H8D000 2 House floor actions 2008-03-12 20:49:36 Motion to reconsider laid on the table Agreed to without objection. Floor H38310 2 House floor actions 2008-03-12 20:49:31 On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H1598-1604) Floor H37300 2 House floor actions 2008-03-12 20:49:31 Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H1598-1604) Floor 8000 9 Library of Congress 2008-03-12 20:36:56 DEBATE - The House proceeded with forty minutes of debate on H.R. 3361. Floor H8D000 2 House floor actions 2008-03-12 20:36:54 Considered under suspension of the rules. (consideration: CR H1598-1606) Floor H30000 2 House floor actions 2008-03-12 20:35:01 Mr. Pomeroy moved to suspend the rules and pass the bill, as amended. Floor H30300 2 House floor actions 2007-09-19 hsed02 Health, Employment, Labor, and Pensions Subcommittee 1 House committee actions Referred to the Subcommittee on Health, Employment, Labor, and Pensions. Committee 2007-08-03 Referred to the Committee on Ways and Means, and in addition to the Committee on Education and Labor, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsed00 Education and the Workforce Committee 2007-08-03 Referred to the Committee on Ways and Means, and in addition to the Committee on Education and Labor, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100-A 9 Library of Congress 2007-08-03 Referred to the Committee on Ways and Means, and in addition to the Committee on Education and Labor, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2007-08-03 Introduced in House IntroReferral Intro-H 9 Library of Congress 2007-08-03 Introduced in House IntroReferral 1000 9 Library of Congress R000053 Rep. Rangel, Charles B. [D-NY-15] CHARLES RANGEL D NY B. 15 N M000725 Rep. Miller, George [D-CA-7] GEORGE MILLER D CA 7 2007-08-03 True M000388 Rep. McCrery, Jim [R-LA-4] JIM MCCRERY R LA 4 2007-08-03 True M000508 Rep. McKeon, Howard P. "Buck" [R-CA-25] HOWARD MCKEON R CA P. 25 2007-08-03 True H.R.7327 https://www.congress.gov/bill/110th-congress/house-bill/7327 Labor and Employment Administrative procedure Defined benefit pension plans Defined contribution plans Department of the Treasury Government Operations and Politics Income tax Law Pension funds Standards Tax deductions Taxation Trusts and trustees Labor and Employment 00 2007-08-03 Introduced in House 2007-12-11T16:44:29Z Pension Protection Technical Corrections Act of 2007 - Amends the Employee Retirement Income Security Act (ERISA) and the Internal Revenue Code, as amended by the Pension Protection Act of 2006, to make changes regarding defined benefit pension plans, including to: (1) revise rules concerning amendments of a plan while a waiver of minimum funding standards is in effect; (2) amend provisions that allow the Secretary of Treasury to provide a transition rule for estimating an at-risk plan's funding target attainment percentage; (3) exclude from the definition of prohibited payment for purposes of limitations on accelerated benefit distributions a payment that may be immediately distributed without the consent of the participant; (4) extend exemption from fiduciary liability during a blackout period to otherwise qualified blackout periods of less than three days; and (5) revise deduction rules for employer contributions to one or more defined contribution plans.

]]> 36 2008-03-12 Passed House amended 2008-06-26T19:30:07Z Pension Protection Technical Corrections Act of 2008 - Amends the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code, as amended by the Pension Protection Act of 2006, to make changes to rules governing defined benefit and defined contribution pension plans.

(Sec. 2) Modifies rules relating to increases in pension plan benefits while a waiver or amortization extension is in effect or with respect to retroactive amendments to such plans.

Revises the definition of "target normal cost" with respect to increases and decreases in such costs.

Requires the Secretary of the Treasury to prescribe rules for quarterly contributions to pension plans with a shortfall in 2008.

(Sec. 3) Revises the criteria for use of the shortfall funding method for multiemployer defined benefit plans.

Requires the Secretary of the Treasury, in consultation with the Secretary of Labor, to establish criteria for required notices relating to multiemployer plans in endangered or critical status.

Revises: (1) criteria for implementation and enforcement of a multiemployer plan default schedule; (2) the definition of plan sponsor for purposes of multiemployer plan funding rules; and (3) the method for calculating the excise tax on trustees of multiemployer plans for failure to adopt a timely rehabilitation plan.

(Sec. 4) Extends until 2009 the temporary interest rate for pension plan funding.

(Sec. 5) Limits the coverage of the missing participant rules to qualified plans that did not provide for employer contributions.

(Sec. 6) Revises requirements relating to: (1) annual funding notices for single and multiemployer defined benefit plans; (2) termination information for pension plan participants; (3) periodic pension benefit statements; and (4) notices to pension plan participants or beneficiaries of blackout periods (i.e, restrictions on plan operations, including investment changes).

(Sec. 7) Modifies pension plan requirements relating to investment advice, prohibited transactions, and fiduciary rules.

(Sec. 8) Provides that failure to meet pension plan preservation of capital requirements constitutes a violation of ERISA age discrimination rules.

(Sec. 9) Modifies rules relating to: (1) the deduction limit for single-employer pension plans; (2) deductions for employer contributions to one or more defined contribution plans; (3) rollovers from retirement plans to Roth individual retirement accounts (IRAs); (4) rollovers by nonspouse beneficiaries of retirement plans; (5) distributions from public pension plans for health and long-term care insurance for public safety officers; and (6) survivor annuity plans of special trial judges of the U.S. Tax Court.

Exempts assets transfers from health accounts to maintain a pension plan's funded status from the excise tax on reversions.

(Sec. 10) Revises the definition of "one-participant retirement plan" for purposes of ERISA diversification and participation requirements.

Expands rules allowing automatic contributions to employer pension plans.

Requires the administrator of a combined pension plan (consisting of a defined benefit plan and a qualified cash or deferred arrangement) to treat such plans separately upon termination.

(Sec. 11) Provides that former spouses shall be entitled to survivor benefits under the Railroad Retirement Act if: (1) the employee completed 10 years of service in the railroad industry (or five years of service after December 31, 1995); (2) the spouse or former spouse has attained age 62; and (3) the employee attains age 62 (or if deceased, would have attained age 62). Makes such provision effective for payments due after August 2007.

(Sec. 12) Prohibits states from reducing unemployment compensation by the amount of pension rollovers.

]]> Pension Protection Technical Corrections Act of 2008 Official Title as Introduced To make technical corrections related to the Pension Protection Act of 2006. Introduced in House IH Display Title Pension Protection Technical Corrections Act of 2008 Short Titles as Introduced Pension Protection Technical Corrections Act of 2007 Short Titles as Passed House Pension Protection Technical Corrections Act of 2008 H House Placed on Calendar Senate 2008-03-31T04:00:00Z Engrossed in House 2008-03-13T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110hr3361eh/xml/BILLS-110hr3361eh.xml Introduced in House 2007-08-03T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110hr3361ih/xml/BILLS-110hr3361ih.xml 2008-03-31 Received in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 621. 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.