National Employee Savings and Trust Equity Guarantee Act of 2005

Bill: 109-s-219
Sponsor: Sen. Grassley, Chuck [R-IA]
Introduced: 2005-01-31 in the Senate
Policy area: Labor and Employment
Subjects: Administrative procedure
Alimony
Annuities
Assassination
Black lung
Civil service retirement
Coal
Collective bargaining
Commerce
Congress
Congressional reporting requirements
Corporate divestiture
Corporate mergers
Corporation taxes
Cost of living adjustments
Crime and Law Enforcement
Defined benefit pension plans
Defined contribution plans
Department of the Treasury
Disability retirement
Disabled
Divorce
Early retirement
Earnings
Education
Electronic data interchange
Electronic government information
Elementary and secondary education
Emergency Management
Emergency medicine
Employee benefit plans
Employee health benefits
Employee ownership
Employee stock options
Employers' liability
Energy
Excise tax
Executive compensation
Families
Federal employees
Fees
Finance and Financial Sector
Financial planning
Financial services
Financial statements
Fire fighters
Government Operations and Politics
Government corporations
Government paperwork
Government publicity
Government trust funds
Governmental investigations
Health
Income tax
Individual retirement accounts
Information disclosure (Securities law)
Insurance premiums
Interest
Interest rates
Internet
Investment advisers
Investment of public funds
Investments
Judges
Judicial compensation
Judicial ethics
Labor contracts
Law
Leave of absence
Legal education
Liability (Law)
Life insurance
Local employees
Magistrates
Married people
Medical education
Medical personnel
Miners
Paramedical personnel
Partnerships
Payroll deductions
Pension Benefit Guaranty Corporation
Pension funds
Pension portability
Pension trust guaranty insurance
Police
Railroad retirement plans
Real property
Recall of officials
Removal of officials
Saving and investment
Scholarships
School districts
Science, Technology, Communications
Securities
Securities regulation
Severance pay
Small business
State employees
Stockholders
Survivors' benefits
Tax courts
Tax deductions
Tax exclusion
Tax penalties
Tax returns
Tax-deferred compensation plans
Tax-exempt organizations
Taxation
Teacher salaries
Teachers
Transportation and Public Works
Trusts and trustees
Unemployment insurance
Valuation
Wages
Web sites
Withholding tax

Summary:
action_date: 2005-01-31
text: 
National Employee Savings and Trust Equity Guarantee Act of 2005
- 
 Amends the Internal Revenue Code and the Employee Retirement Income Security Act of 1974 (ERISA) to require defined contribution plans to allow employees to divest employer stock and diversify their pension asset investments. 
 
Revises requirements relating to: (1) information to assist pension plan participants; (2) protection of plan participants; (3) pension plan funding and deductions; (4) the Pension Benefit Guaranty Corporation (PBGC); (5) replacement of the interest rate of 30-year treasury securities for purposes of funding, PBGC premium rates, and calculating lump-sum distributions; (6) portability and distribution rules; (7) the Employee Plans Compliance Resolution System; (8) spousal pension protection, including spousal consent for distributions from defined contribution plans and division of pension benefits upon divorce; (9) railroad retirement; (10) joint and survivor annuity benefits; and (11) compensation and pensions of Tax Court judges.


Legislative actions:
action_date: 2005-01-31
text: Read twice and referred to the Committee on Finance.
action_date: 2005-01-31
text: Sponsor introductory remarks on measure. (CR S671-672)
action_date: 2005-01-31
text: Introduced in Senate