I

104TH CONGRESS

2D SESSION H. R. 3077

To establish a Commission on Retirement Income Policy.

IN THE HOUSE OF REPRESENTATIVES

MARCH 13, 1996

Mr. POMEROY (for himself and Mrs. JOHNSON of Connecticut) introduced the

following bill; which was referred to the Committee on Economic and

Educational Opportunities

A BILL

To establish a Commission on Retirement Income Policy.

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled,

3 SECTION 1. SHORT TITLE.

4 This Act may be cited as the ‘‘Commission on Retire5 ment Income Policy Act of 1996’’.

6 SEC. 2. ESTABLISHMENT.

7 There is established a commission to be known as the

8 Commission on Retirement Income Policy (in this Act re9 ferred to as the ‘‘Commission’’).
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1 SEC. 3. DUTIES.

2 (a) IN GENERAL.—The Commission shall conduct a

3 full and complete review and study of—

4 (1) trends in retirement savings in the United

5 States;

6 (2) existing Federal incentives and programs

7 that are established to encourage and protect such

8 savings; and

9 (3) new Federal incentives and programs that

10 are needed to encourage and protect such savings.

11 (b) SPECIFIC ISSUES.—In fulfilling the duty de12 scribed in subsection (a), the Commission shall address—

13 (1) the amount and sources of Federal and pri14 vate funds, including tax expenditures (as defined in

15 section 3 of the Congressional Budget Act of 1974

16 (2 U.S.C. 622)), needed to finance the incentives

17 and programs referred to in subsection (a)(2) and

18 any new Federal incentive or program that the Com19 mission recommends be established;

20 (2) the most efficient and effective manner,

21 considering the needs of retirement plan sponsors

22 for simplicity, reasonable cost, and appropriate in23 centives, of ensuring that individuals in the United

24 States will have adequate retirement savings;

25 (3) the amounts of retirement income that fu26 ture retirees will need to replace various levels of
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1 preretirement income, including amounts necessary

2 to pay for medical and long-term care;

3 (4) the workforce and demographic trends that

4 affect the pensions of future retirees;

5 (5) the role of retirement savings in the econ6 omy of the United States;

7 (6) sources of retirement income other than pri8 vate pensions that are available to individuals in the

9 United States; and

10 (7) the shift away from insured and qualified

11 pension benefits in the United States.

12 (c) RECOMMENDATIONS.—

13 (1) IN GENERAL.—The Commission shall for14 mulate recommendations based on the review and

15 study conducted under subsection (a). The rec16 ommendations shall include measures that address

17 the needs of future retirees for—

18 (A) appropriate pension plan coverage and

19 other mechanisms for saving for retirement;

20 (B) an adequate retirement income;

21 (C) preservation of benefits they accumu22 late by participating in pension plans;

23 (D) information concerning pension plan

24 benefits; and
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1 (E) procedures to resolve disputes involv2 ing such benefits.

3 (2) EFFECT ON FEDERAL BUDGET DEFICIT.—

4 A recommendation of the Commission for a new

5 Federal incentive or program that would result in an

6 increase in the Federal budget deficit shall not ap7 pear in the report required under section 7 unless it

8 is accompanied by a recommendation for offsetting

9 the increase.

10 SEC. 4. MEMBERSHIP.

11 (a) NUMBER AND APPOINTMENT.—

12 (1) IN GENERAL.—The Commission shall be

13 composed of 18 members appointed not later than

14 90 days after the date of the enactment of this Act.

15 The Commission shall consist of the following mem16 bers:

17 (A) 4 individuals appointed by the Presi18 dent.

19 (B) 7 individuals appointed by the Speaker

20 of the House of Representatives.

21 (C) 7 individuals appointed by the Presi22 dent pro tempore of the Senate.

23 (2) AGREEMENT WITH MINORITY LEADERS.—3

24 of the appointments made under paragraph (1)(B)

25 shall be made in agreement with the minority leader
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1 of the House of Representatives. 3 of the appoint2 ments made under paragraph (1)(C) shall be made

3 in agreement with the minority leader of the Senate.

4 (3) QUALIFICATIONS.—The individuals referred

5 to in paragraph (1) shall be Members of the Con6 gress, leaders of business or labor, distinguished aca7 demics, or other individuals with distinctive quali8 fications or experience.

9 (b) TERMS.—Each member shall be appointed for the

10 life of the Commission.

11 (c) VACANCIES.—A vacancy in the Commission shall

12 be filled not later than 90 days after the date of the cre13 ation of the vacancy in the manner in which the original

14 appointment was made.

15 (d) COMPENSATION.—

16 (1) RATES OF PAY.—Except as provided in

17 paragraph (2), members of the Commission shall

18 serve without pay.

19 (2) TRAVEL EXPENSES.—Each member of the

20 Commission shall receive travel expenses, including

21 per diem in lieu of subsistence, in accordance with

22 sections 5702 and 5703 of title 5, United States

23 Code.
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1 (e) QUORUM.—10 members of the Commission shall

2 constitute a quorum, but 6 members may hold hearings,

3 take testimony, or receive evidence.

4 (f) CHAIRPERSON.—The chairperson of the Commis5 sion shall be elected by a majority vote of the members

6 of the Commission.

7 (g) MEETINGS.—The Commission shall meet at the

8 call of the chairperson of the Commission.

9 (h) DECISIONS.—Decisions of the Commission shall

10 be made according to the vote of not less than a majority

11 of the members who are present and voting at a meeting

12 called pursuant to subsection (g).

13 SEC. 5. STAFF AND SUPPORT SERVICES.

14 (a) EXECUTIVE DIRECTOR.—The Commission shall

15 have an executive director appointed by the Commission.

16 The Commission shall fix the pay of the executive director.

17 (b) STAFF.—The Commission may appoint and fix

18 the pay of additional personnel as it considers appropriate.

19 (c) APPLICABILITY OF CERTAIN CIVIL SERVICE

20 LAWS.—The executive director and staff of the Commis21 sion may be appointed without regard to the provisions

22 of title 5, United States Code, governing appointments in

23 the competitive service, and may be paid without regard

24 to the provisions of chapter 51 and subchapter III of chap-
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1 ter 53 of that title relating to classification and General

2 Schedule pay rates.

3 (d) EXPERTS AND CONSULTANTS.—The Commission

4 may procure temporary and intermittent services under

5 section 3109(b) of title 5, United States Code, at rates

6 the Commission determines to be appropriate.

7 (e) STAFF OF FEDERAL AGENCIES.—Upon request

8 of the Commission, the head of any Federal agency may

9 detail, on a reimbursable basis, any of the personnel of

10 the agency to the Commission to assist it in carrying out

11 its duties under this Act.

12 (f) ADMINISTRATIVE SUPPORT SERVICES.—Upon the

13 request of the Commission, the Administrator of General

14 Services shall provide to the Commission, on a reimburs15 able basis, the administrative support services necessary

16 for the Commission to carry out its responsibilities under

17 this Act.

18 SEC. 6. POWERS.

19 (a) HEARINGS AND SESSIONS.—

20 (1) IN GENERAL.—The Commission may, for

21 the purpose of carrying out this Act, hold hearings,

22 sit and act at times and places, take testimony, and

23 receive evidence as the Commission considers appro24 priate. The Commission may administer oaths or af25 firmations to witnesses appearing before it.
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1 (2) PUBLIC HEARINGS.—The Commission may

2 hold public hearings to receive the views of a broad

3 spectrum of the public on the status of the private

4 retirement system of the United States.

5 (b) DELEGATION OF AUTHORITY.—Any member,

6 committee, or agent of the Commission may, if authorized

7 by the Commission, take any action which the Commission

8 is authorized to take by this section.

9 (c) INFORMATION.—

10 (1) INFORMATION FROM FEDERAL AGENCIES.—

11 (A) IN GENERAL.—The Commission may

12 secure directly from any Federal agency infor13 mation necessary to enable it to carry out this

14 Act. Upon request of the Commission, the head

15 of the Federal agency shall furnish the informa16 tion to the Commission.

17 (B) EXCEPTION.—Subparagraph (A) shall

18 not apply to any information that the Commis19 sion is prohibited to secure or request by an20 other law.

21 (2) PUBLIC SURVEYS.—The Commission may

22 conduct the public surveys necessary to enable it to

23 carry out this Act. In conducting such surveys, the

24 Commission shall not be considered an agency for
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1 purposes of chapter 35 of title 44, United States

2 Code.

3 (d) MAILS.—The Commission may use the United

4 States mails in the same manner and under the same con5 ditions as other Federal agencies.

6 (e) CONTRACT AND PROCUREMENT AUTHORITY.—

7 The Commission may make purchases, and may contract

8 with and compensate government and private agencies or

9 persons for property or services, without regard to—

10 (1) section 3709 of the Revised Statutes (41

11 U.S.C. 5); and

12 (2) title III of the Federal Property and Ad13 ministrative Services Act of 1949 (41 U.S.C. 251 et

14 seq.).

15 (f) GIFTS.—The Commission may accept, use, and

16 dispose of gifts of services or property, both real and per17 sonal, for the purpose of assisting the work of the Com18 mission. Gifts of money and proceeds from sales of prop19 erty received as gifts shall be deposited in the Treasury

20 and shall be available for disbursement upon order of the

21 Commission. For purposes of Federal income, estate, and

22 gift taxes, property accepted under this subsection shall

23 be considered as a gift to the United States.

24 (g) VOLUNTEER SERVICES.—Notwithstanding sec25 tion 1342 of title 31, United States Code, the Commission
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1 may accept and use voluntary and uncompensated services

2 as the Commission determines necessary.

3 SEC. 7. REPORT.

4 Not later than December 31, 1997, the Commission

5 shall submit a report to the President, the majority and

6 minority leaders of the Senate, and the majority and mi7 nority leaders of the House of Representatives. The report

8 shall review the matters that the Commission is required

9 to study under section 3 and shall set forth the rec10 ommendations of the Commission.

11 SEC. 8. TERMINATION.

12 The Commission shall terminate not later than the

13 expiration of the 90-day period beginning on the date on

14 which the Commission submits its report under section 7.

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