§ 1222 TITLE 29—LABOR Page 486

Committee on Human Resources of Senate changed

to Committee on Labor and Human Resources of Senate, effective Mar. 7, 1979, by Senate Resolution No. 30,

96th Congress. See, also, Rule XXV of Standing Rules of

Senate adopted Nov. 14, 1979.

Joint Committee on Internal Revenue Taxation redesignated Joint Committee on Taxation by section

1907(a)(5) of Pub. L. 94–455.

Committee on Labor and Public Welfare of Senate

abolished and replaced by Committee on Human Resources of Senate, effective Feb. 11, 1977. See Rule XXV

of Standing Rules of Senate, as amended by Senate

Resolution No. 4 (popularly cited as the ‘‘Committee

System Reorganization Amendments of 1977’’), approved Feb. 4, 1977.

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in section 1222 of this title.

§ 1222. Duties

(a) The Joint Pension, Profit-Sharing, and

Employee Stock Ownership Plan Task Force

shall, within 24 months after September 2, 1974,

make a full study and review of—

(1) the effect of the requirements of section

411 of title 26 and of section 1053 of this title

to determine the extent of discrimination, if

any, among employees in various age groups

resulting from the application of such requirements;

(2) means of providing for the portability of

pension rights among different pension plans;

(3) the appropriate treatment under subchapter III of this chapter (relating to termination insurance) of plans established and

maintained by small employers;

(4) the broadening of stock ownership, particularly with regard to employee stock ownership plans (as defined in section 4975(e)(7) of

title 26 and section 1107(d)(6) of this title) and

all other alternative methods for broadening

stock ownership to the American labor force

and others;

(5) the effects and desirability of the Federal

preemption of State and local law with respect

to matters relating to pension and similar

plans; and

(6) such other matter as any of the committees referred to in section 1221 of this title

may refer to it.

(b) The Joint Pension, Profit-Sharing, and

Employee Stock Ownership Plan Task Force

shall report the results of its study and review

to each of the committees referred to in section

1221 of this title.

(Pub. L. 93–406, title III, §3022, Sept. 2, 1974, 88

Stat. 999; Pub. L. 94–455, title VIII, §803(i)(1),

(2)(A)(iii), Oct. 4, 1976, 90 Stat. 1590, 1591; Pub. L.

101–239, title VII, §7891(a)(1), Dec. 19, 1989, 103

Stat. 2445.)

AMENDMENTS

1989—Subsec. (a)(1), (4). Pub. L. 101–239 substituted

‘‘Internal Revenue Code of 1986’’ for ‘‘Internal Revenue

Code of 1954’’, which for purposes of codification was

translated as ‘‘title 26’’ thus requiring no change in

text.

1976—Subsec. (a). Pub. L. 94–455, §803(i)(1), (2)(A)(iii),

substituted ‘‘Joint Pension, Profit-Sharing, and Employee Stock Ownership Plan Task Force’’ for ‘‘Joint

Pension Task Force’’ in provision preceding par. (1), redesignated pars. (4) and (5) as (5) and (6), respectively,

and added par. (4).

Subsec. (b). Pub. L. 94–455, §803(i)(2)(A)(iii), substituted ‘‘Joint Pension, Profit-Sharing, and Employee

Stock Ownership Plan Task Force’’ for ‘‘Joint Pension

Task Force’’.

EFFECTIVE DATE OF 1989 AMENDMENT

Amendment by Pub. L. 101–239 effective, except as

otherwise provided, as if included in the provision of

the Tax Reform Act of 1986, Pub. L. 99–514, to which

such amendment relates, see section 7891(f) of Pub. L.

101–239, set out as a note under section 1002 of this title.

PART 2—OTHER STUDIES

§ 1231. Congressional study

(a) The Committee on Education and Labor

and the Committee on Ways and Means of the

House of Representatives and the Committee on

Finance and the Committee on Labor and

Human Resources of the Senate shall study retirement plans established and maintained or financed (directly or indirectly) by the Government of the United States, by any State (including the District of Columbia) or political subdivision thereof, or by any agency or instrumentality of any of the foregoing. Such study shall

include an analysis of—

(1) the adequacy of existing levels of participation, vesting, and financing arrangements,

(2) existing fiduciary standards, and

(3) the necessity for Federal legislation and

standards with respect to such plans.

In determining whether any such plan is adequately financed, each committee shall consider

the necessity for minimum funding standards,

as well as the taxing power of the government

maintaining the plan.

(b) Not later than December 31, 1976, the Committee on Education and Labor and the Committee on Ways and Means shall each submit to the

House of Representatives the results of the studies conducted under this section, together with

such recommendations as they deem appropriate. The Committee on Finance and the Committee on Labor and Human Resources shall

each submit to the Senate the results of the

studies conducted under this section together

with such recommendations as they deem appropriate not later than such date.

(Pub. L. 93–406, title III, §3031, Sept. 2, 1974, 88

Stat. 999; S. Res. 4, Feb. 4, 1977; S. Res. 30, Mar.

7, 1979.)

CHANGE OF NAME

Committee on Education and Labor of House of Representatives treated as referring to Committee on Economic and Educational Opportunities of House of Representatives by section 1(a) of Pub. L. 104–14, set out as

a note preceding section 21 of Title 2, The Congress.

Committee on Economic and Educational Opportunities of House of Representatives changed to Committee

on Education and the Workforce of House of Representatives by House Resolution No. 5, One Hundred Fifth

Congress, Jan. 7, 1997.

Committee on Human Resources of Senate changed

to Committee on Labor and Human Resources of Senate, effective Mar. 7, 1979, by Senate Resolution No. 30,

96th Congress. See, also, Rule XXV of Standing Rules of

Senate adopted Nov. 14, 1979.

Committee on Labor and Public Welfare of Senate

abolished and replaced by Committee on Human Resources of Senate, effective Feb. 11, 1977. See Rule XXV

of Standing Rules of Senate, as amended by Senate