S.2282 - Fairness in Pension Stability Act108th Congress (2003-2004)
|Sponsor:||Sen. Kennedy, Edward M. [D-MA] (Introduced 04/05/2004)|
|Committees:||Senate - Finance|
|Latest Action:||Senate - 04/05/2004 Read twice and referred to the Committee on Finance. (All Actions)|
This bill has the status Introduced
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Summary: S.2282 — 108th Congress (2003-2004)All Information (Except Text)
Introduced in Senate (04/05/2004)
Fairness in Pension Stability Act - Amends the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code (Code) to temporarily replace (for plan years 2004 and 2005) the 30-year Treasury rate with a rate based on long-term corporate bonds for certain pension plan funding requirements.
Sets forth ERISA and Code provisions for: (1) election by certain plans of an alternative deficit reduction contribution; (2) multiemployer defined benefit plan funding notices; (3) an amortization hiatus for net experience losses in multiemployer plans; (3) procedures applicable to disputes involving pension plan withdrawal liability; and (4) an extension of transfers of excess pension assets to retiree health accounts.
Revises Code provisions relating to a tax exemption for small property and casualty insurance companies. Repeals Code provisions relating to reductions of certain tax deductions for mutual life insurance companies.
Amends the Retirement Protection Act of 1994 to set forth special transition rules relating to pension funding requirements under ERISA and the Code.
Confirms the antitrust status of graduate medical resident matching programs.