3.0.0 1725 2023-01-12T17:52:45Z 2023-01-12T17:52:45Z Senate S S 2007-06-28 110 sshr00 Health, Education, Labor, and Pensions Committee Senate Standing Referred to 2007-06-28T19:07:59Z 2007-06-28 sshr00 Health, Education, Labor, and Pensions Committee Senate Read twice and referred to the Committee on Health, Education, Labor, and Pensions. IntroReferral 2007-06-28 Introduced in Senate IntroReferral 10000 9 Library of Congress H000206 Sen. Harkin, Tom [D-IA] THOMAS HARKIN D IA RICHARD N S000033 Sen. Sanders, Bernard [I-VT] Bernard Sanders I VT 2008-03-13 False Labor and Employment Annuities Civil actions and liability Civil service retirement Collection of accounts Commerce Corporate mergers Department of Labor Divorce Executive compensation Executive reorganization Families Federal employees Government Operations and Politics Income tax Limitation of actions Pension funds Survivors' benefits Tax exclusion Tax-deferred compensation plans Taxation Labor and Employment 00 2007-06-28 Introduced in Senate 2007-12-10T16:40:48Z Restoring Pension Promises to Workers Act - Amends the Internal Revenue Code to require the inclusion in gross income of all income previously deferred under a nonqualified deferred compensation plan if an employer maintaining such a plan fails to meet certain participation, vesting, and minimum benefit requirements.

Amends the Employee Retirement Income Security Act of 1974 (ERISA) to: (1) deny ERISA pension plan administrators the right to recover overpayments made to plan participants and beneficiaries in cases of hardship or insignificant amounts; (2) impose a three-year limitation period for bringing any action to recover an overpayment; (3) prohibit the elimination of accrued pension plan benefits during corporate mergers and acquisitions; and (4) establish in the Department of Labor an Office of Pension Participant Advocacy to protect pension plan participants.

Amends federal employee personnel provisions to: (1) entitle former spouses of federal employees who die before establishing a valid claim for an annuity to 55% of such deferred annuity or a lump-sum payment; (2) permit divorced spouses of federal employees to collect court-awarded retirement benefits when such employees are first eligible to retire (currently, only available at the time the employee actually retires); (3) entitle certain former spouses of retired federal employees divorced prior to September 14, 1978, to a survivor annuity; and (4) give priority to a surviving spouse of a federal employee in the distribution of balances in a Thrift Savings account, unless such spouse consents to the designation of another beneficiary.

]]> Restoring Pension Promises to Workers Act Display Title Restoring Pension Promises to Workers Act Official Title as Introduced A bill to amend the Employee Retirement Income Security Act of 1974, the Internal Revenue Code of 1986, and title 5, United States Code, to improve the protection of pension benefits, and for other purposes. Introduced in Senate IS Short Titles as Introduced Restoring Pension Promises to Workers Act Introduced in Senate 2007-06-28T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110s1725is/xml/BILLS-110s1725is.xml 2007-06-28 Read twice and referred to the Committee on Health, Education, Labor, and Pensions. 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.