3.0.0 1288 2023-01-11T16:32:43Z 2023-01-11T16:32:43Z Senate S S 2007-05-03 110 ssfi00 Finance Committee Senate Standing Referred to 2007-05-03T18:29:48Z Women's Retirement Security Act of 2008 110 5543 HR 2008-03-06 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. Related bill CRS 2007-05-03 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2007-05-03 Sponsor introductory remarks on measure. (CR S5580) IntroReferral B00100 9 Library of Congress 2007-05-03 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 2007-05-03 True K000148 Sen. Kerry, John F. [D-MA] JOHN KERRY D MA FORBES 2007-05-03 True B000468 Sen. Bingaman, Jeff [D-NM] JESSE BINGAMAN D NM FRANCIS 2007-05-03 True S000663 Sen. Snowe, Olympia J. [R-ME] Olympia Snowe R ME J. 2007-05-03 True Labor and Employment Annuities Armed Forces and National Security Commerce Counseling Disability insurance Disabled Divorce Economics and Public Finance Families Finance and Financial Sector Financial planning Government Operations and Politics Government publications Grants-in-aid Health Health insurance Income tax Individual retirement accounts Military pensions Old age, survivors and disability insurance Part-time employment Payroll deductions Railroad retirement plans Self-employed Separation (Law) Small business Social Welfare Survivors' benefits Tax credits Tax deductions Tax exclusion Tax preparers Tax refunds Tax-deferred compensation plans Taxation Taxpayers Transportation and Public Works Unemployment insurance Women Women's retirement Labor and Employment 00 2007-05-03 Introduced in Senate 2007-06-01T20:16:45Z Women's Retirement Security Act of 2007 - Amends the Internal Revenue Code to: (1) require certain small employers who do not provide retirement plans for their employees to allow eligible employees to participate in a payroll deposit individual retirement account arrangement (automatic IRA); (2) expand eligibility for the tax credit for retirement savings contributions (saver's credit) and make such credit refundable; (3) allow certain part-time employees to participate in qualified cash or deferred arrangements; (4) allow the transfer of up to $500 of unused health plan benefits to qualified retirement plans; (5) treat wage replacement income (e.g., disability pay or unemployment compensation) as earned income for purposes of IRA contribution limits; (6) allow a limited tax exclusion for certain lifetime annuity payments and for qualified retirement planning services; (7) allow certain small employers a tax credit for contributions to employee pension plans; and (8) allow self-employed individuals to deduct pension plan contributions from their self-employment income.

Sets forth special rules for: (1) preservation of retirement plan assets distributed under a qualified domestic relations order; (2) eligibility of surviving and divorced spouses for benefits under the Railroad Retirement Act; and (3) military retired pay subject to court orders in domestic relations proceedings.

Authorizes the Secretary of the Treasury to make grants to qualified low-income taxpayer clinics to provide retirement savings counseling to low-income taxpayers.

Requires the Commissioner of Social Security to prepare a financial reference handbook and a retirement readiness checklist for distribution to social security recipients.

]]> Women's Retirement Security Act of 2007 Display Title Women's Retirement Security Act of 2007 Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 and the Employee Retirement Income Security Act of 1974 to increase the retirement security of women and small business owners, and for other purposes. Introduced in Senate IS Short Titles as Introduced Women's Retirement Security Act of 2007 Introduced in Senate 2007-05-03T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110s1288is/xml/BILLS-110s1288is.xml 2007-05-03 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.