II

103D CONGRESS

2D SESSION S. 2308

To establish a Commission on Retirement Income Policy.

IN THE SENATE OF THE UNITED STATES

JULY 21 (legislative day, JULY 20), 1994

Mr. LIEBERMAN introduced the following bill; which was read twice and

referred to the Committee on Labor and Human Resources

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 1994’’.

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’’).

10 SEC. 3. DUTIES.

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

12 full and complete review and study of—
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1 (1) trends in retirement savings in the United

2 States;

3 (2) existing Federal incentives and programs

4 that are established to encourage and protect such

5 savings; and

6 (3) new Federal incentives and programs that

7 are needed to encourage and protect such savings.

8 (b) SPECIFIC ISSUES.—In fulfilling the duty de9 scribed in subsection (a), the Commission shall address—

10 (1) the amount and sources of Federal and pri11 vate funds, including tax expenditures (as defined in

12 section 3 of the Congressional Budget Act of 1974

13 (2 U.S.C. 622)), needed to finance the incentives

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

15 any new Federal incentive or program that the Com16 mission recommends be established;

17 (2) the most efficient and effective manner,

18 considering the needs of retirement plan sponsors

19 for simplicity, reasonable cost, and appropriate in20 centives, of ensuring that individuals in the United

21 States will have adequate retirement savings;

22 (3) the amounts of retirement income that fu23 ture retirees will need to replace various levels of

24 preretirement income, including amounts necessary

25 to pay for medical and long-term care;
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1 (4) the workforce and demographic trends that

2 affect the pensions of future retirees;

3 (5) the role of retirement savings in the econ4 omy of the United States;

5 (6) sources of retirement income other than pri6 vate pensions that are available to individuals in the

7 United States; and

8 (7) the shift away from insured and qualified

9 pension benefits in the United States.

10 (c) RECOMMENDATIONS.—

11 (1) IN GENERAL.—The Commission shall for12 mulate recommendations based on the review and

13 study conducted under subsection (a). The rec14 ommendations shall include measures that address

15 the needs of future retirees for—

16 (A) appropriate pension plan coverage and

17 other mechanisms for saving for retirement;

18 (B) an adequate retirement income;

19 (C) preservation of benefits they accumu20 late by participating in pension plans;

21 (D) information concerning pension plan

22 benefits; and

23 (E) procedures to resolve disputes involv24 ing such benefits.
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1 (2) EFFECT ON FEDERAL BUDGET DEFICIT.—

2 A recommendation of the Commission for a new

3 Federal incentive or program that would result in an

4 increase in the Federal budget deficit shall not ap5 pear in the report required under section 7 unless it

6 is accompanied by a recommendation for offsetting

7 the increase.

8 SEC. 4. MEMBERSHIP.

9 (a) NUMBER AND APPOINTMENT.—

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

11 composed of 18 members appointed not later than

12 90 days after the date of the enactment of this Act.

13 The Commission shall consist of the following mem14 bers:

15 (A) 4 individuals appointed by the Presi16 dent.

17 (B) 7 individuals appointed by the Speaker

18 of the House of Representatives.

19 (C) 7 individuals appointed by the Presi20 dent pro tempore of the Senate.

21 (2) CONSULTATION WITH MINORITY LEAD22 ERS.—3 of the appointments made under paragraph

23 (1)(B) shall be made in consultation with the minor24 ity leader of the House of Representatives. 3 of the

25 appointments made under paragraph (1)(C) shall be
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1 made in consultation with the minority leader of the

2 Senate.

3 (3) QUALIFICATIONS.—The individuals referred

4 to in paragraph (1) shall be Members of the Con5 gress, leaders of business or labor, distinguished aca6 demics, or other individuals with distinctive quali7 fications or experience.

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

9 life of the Commission.

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

11 be filled not later than 90 days after the date of the cre12 ation of the vacancy in the manner in which the original

13 appointment was made.

14 (d) COMPENSATION.—

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

16 paragraph (2), members of the Commission shall

17 serve without pay.

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

19 Commission shall receive travel expenses, including

20 per diem in lieu of subsistence, in accordance with

21 sections 5702 and 5703 of title 5, United States

22 Code.

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

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

25 take testimony, or receive evidence.
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1 (f) CHAIRPERSON.—The chairperson of the Commis2 sion shall be elected by a majority vote of the members

3 of the Commission.

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

5 call of the chairperson of the Commission.

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

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

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

9 called pursuant to subsection (g).

10 SEC. 5. STAFF AND SUPPORT SERVICES.

11 (a) EXECUTIVE DIRECTOR.—The Commission shall

12 have an executive director appointed by the Commission.

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

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

15 the pay of additional personnel as it considers appropriate.

16 (c) APPLICABILITY OF CERTAIN CIVIL SERVICE

17 LAWS.—The executive director and staff of the Commis18 sion may be appointed without regard to the provisions

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

20 the competitive service, and may be paid without regard

21 to the provisions of chapter 51 and subchapter III of chap22 ter 53 of that title relating to classification and General

23 Schedule pay rates.

24 (d) EXPERTS AND CONSULTANTS.—The Commission

25 may procure temporary and intermittent services under
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1 section 3109(b) of title 5, United States Code, at rates

2 the Commission determines to be appropriate.

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

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

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

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

7 its duties under this Act.

8 (f) ADMINISTRATIVE SUPPORT SERVICES.—Upon the

9 request of the Commission, the Administrator of General

10 Services shall provide to the Commission, on a reimburs11 able basis, the administrative support services necessary

12 for the Commission to carry out its responsibilities under

13 this Act.

14 SEC. 6. POWERS.

15 (a) HEARINGS AND SESSIONS.—

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

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

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

19 receive evidence as the Commission considers appro20 priate. The Commission may administer oaths or af21 firmations to witnesses appearing before it.

22 (2) PUBLIC HEARINGS.—The Commission may

23 hold public hearings to receive the views of a broad

24 spectrum of the public on the status of the private

25 retirement system of the United States.
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1 (b) DELEGATION OF AUTHORITY.—Any member,

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

3 by the Commission, take any action which the Commission

4 is authorized to take by this section.

5 (c) INFORMATION.—

6 (1) INFORMATION FROM FEDERAL AGENCIES.—

7 (A) IN GENERAL.—The Commission may

8 secure directly from any Federal agency infor9 mation necessary to enable it to carry out this

10 Act. Upon request of the Commission, the head

11 of the Federal agency shall furnish the informa12 tion to the Commission.

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

14 not apply to any information that the Commis15 sion is prohibited to secure or request by an16 other law.

17 (2) PUBLIC SURVEYS.—The Commission may

18 conduct the public surveys necessary to enable it to

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

20 Commission shall not be considered an agency for

21 purposes of chapter 35 of title 44, United States

22 Code.

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

24 States mails in the same manner and under the same con25 ditions as other Federal agencies.
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1 (e) CONTRACT AND PROCUREMENT AUTHORITY.—

2 The Commission may make purchases, and may contract

3 with and compensate government and private agencies or

4 persons for property or services, without regard to—

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

6 U.S.C. 5); and

7 (2) title III of the Federal Property and Ad8 ministrative Services Act of 1949 (41 U.S.C. 251 et

9 seq.).

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

11 dispose of gifts of services or property, both real and per12 sonal, for the purpose of assisting the work of the Com13 mission. Gifts of money and proceeds from sales of prop14 erty received as gifts shall be deposited in the Treasury

15 and shall be available for disbursement upon order of the

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

17 gift taxes, property accepted under this subsection shall

18 be considered as a gift to the United States.

19 (g) VOLUNTEER SERVICES.—Notwithstanding sec20 tion 1342 of title 31, United States Code, the Commission

21 may accept and use voluntary and uncompensated services

22 as the Commission determines necessary.

23 SEC. 7. REPORT.

24 Not later than December 31, 1995, the Commission

25 shall submit a report to the President, the majority and
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1 minority leaders of the Senate, and the majority and mi2 nority leaders of the House of Representatives. The report

3 shall review the matters that the Commission is required

4 to study under section 3 and shall set forth the rec5 ommendations of the Commission.

6 SEC. 8. TERMINATION.

7 The Commission shall terminate not later than the

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

9 which the Commission submits its report under section 7.

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