S.1708 - Pension Reduction Disclosure Act of 1999106th Congress (1999-2000)
|Sponsor:||Sen. Moynihan, Daniel Patrick [D-NY] (Introduced 10/07/1999)|
|Committees:||Senate - Finance|
|Latest Action:||10/07/1999 Read twice and referred to the Committee on Finance.|
This bill has the status Introduced
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Subject — Policy Area:
- Labor and Employment
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Summary: S.1708 — 106th Congress (1999-2000)All Bill Information (Except Text)
Pension Reduction Disclosure Act of 1999 - Amends the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code to set forth notice requirements for pension plans which significantly reduce future benefit accruals.
Introduced in Senate (10/07/1999)
Requires additional information to be provided in such notice by large pension plans with 100 or more active participants.
Imposes an excise tax upon failure of pension plans to provide such notice.