3.0.0 3341 2022-02-08T23:15:19Z 2022-02-08T23:15:19Z Senate S 2020-02-27 116 ssfi00 Finance Committee Senate Standing Referred to 2020-02-27T16:39:06Z 2020-02-27 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2020-02-27 Introduced in Senate IntroReferral 10000 9 Library of Congress S000033 Sen. Sanders, Bernard [I-VT] Bernard Sanders I VT N V000128 Sen. Van Hollen, Chris [D-MD] Chris Van Hollen D MD 2020-02-27 True G000555 Sen. Gillibrand, Kirsten E. [D-NY] Kirsten Gillibrand D NY E. 2020-03-02 False Taxation Administrative law and regulatory procedures Corporate finance and management Department of Labor Employee benefits and pensions Executive agency funding and structure Income tax deferral Pension Benefit Guaranty Corporation Tax administration and collection, taxpayers Tax-exempt organizations Taxation 00 2020-02-27 Introduced in Senate 2020-05-27T17:30:56Z CEO and Worker Pension Fairness Act

This bill limits tax benefits for deferred compensation of highly compensated employees (e.g., corporate chief executive officers) and increases disclosure requirements for such compensation.

The bill includes such deferred compensation in taxable income when there is no substantial risk of forfeiture (i.e., when vested) of the rights of the person entitled to such compensation rather than at distribution.

The bill transfers revenue from this revised tax treatment of deferred compensation from the Treasury to the Pension Benefit Guaranty Corporation to increase insurance coverage of multiemployer pension plans.

The bill requires the Department of Labor to report on nonqualified deferred compensation plans of highly compensated employees known as top hat plans. The Department of the Treasury must disclose amounts deferred under such plans on W-2 forms

]]> CEO and Worker Pension Fairness Act Display Title CEO and Worker Pension Fairness Act Short Title(s) as Introduced CEO and Worker Pension Fairness Act Introduced in Senate IS Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to restrict the tax benefits of executive deferred compensation and increase disclosure, and for other purposes. Introduced in Senate IS Introduced in Senate 2020-02-27T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116s3341is/xml/BILLS-116s3341is.xml 2020-02-27 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.