H.R. 2830 - Pension Security and Transparency Act of 2005

Pension Security and Transparency Act of 2005

H.R. 2830 — 109^th Congress (2005–2006)

Summary

To amend the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code of 1986 to reform the pension funding rules, and for other purposes. (by CRS)

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Title

To amend the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code of 1986 to reform the pension funding rules, and for other purposes.

Other Titles

• Pension Reform bill
• Pension Protection Act of 2005
• Pension Protection Act of 2005
• Pension Protection Act of 2005
• Pension Security and Transparency Act of 2005

Sponsor

John A. Boehner

Co-Sponsors

• Lynn A. Westmoreland
• Pete Sessions
• C.L. Otter
• Tom Price
• Howard P. "Buck" McKeon
• Darrell E. Issa
• William Thomas
• Patrick J. Tiberi
• John Kline
• Sam Johnson
• Roscoe G. Bartlett
• Jim Gerlach
• Ken Calvert
• Charles W. Boustany Jr.
• E. Shaw
• Donald A. Manzullo

Subjects

• Pensions
• Accounting
• Administrative procedure
• Age discrimination
• Aged
• Aircraft pilots
• Airline employees
• Airlines
• Alabama
• Annuities
• Assassination
• Bankruptcy
• Budgets
• Business
• Civil rights
• Civil service retirement
• Coal
• Congress
• Congressional investigations
• Congressional reporting requirements
• Cooperative societies
• Cost of living adjustments
• Criminal justice
• Defined benefit pension plans
• Defined contribution plans
• Department of Labor
• Department of the Treasury
• Disaster relief
• Divorce
• Earnings
• Emergency management
• Estates (Law)
• Executive departments
• Families
• Federal advisory bodies
• Finance
• Financial planning
• Financial statements
• Florida
• Foreign exchange
• Fraud
• Government corporations
• Government employees
• Government employees' life insurance
• Government information
• Government paperwork
• Government publicity
• Government trust funds
• Governmental investigations
• Health policy
• Hurricane aftermath legislation
• Hurricanes
• Income tax
• Indians
• Individual retirement accounts
• Insurance premiums
• Interest
• Interest rates
• International finance
• Investment advisers
• Investments
• Judicial compensation
• Judicial ethics
• Judicial tenure
• Labor
• Labor unions
• Law
• Leave of absence
• Legislation
• Liability (Law)
• Liens
• Life insurance
• Louisiana
• Magistrates
• Mandatory retirement
• Medical care
• Miners
• Minorities
• Mississippi
• Older workers
• Pension Benefit Guaranty Corporation
• Pension funds
• Pension portability
• Pension trust guaranty insurance
• Plant shutdowns
• Railroad retirement plans
• Recruiting of employees
• Retiree health benefits
• Standards
• Stock exchanges
• Stocks
• Surety and fidelity
• Survivors' benefits
• Tax courts
• Tax deductions
• Tax exclusion
• Tax penalties
• Tax-deferred compensation plans
• Taxation
• Texas
• Transportation
• Trusts and trustees
• Unemployment insurance
• Valuation

Related Bills

• H.Res. 602 (109^th) : Providing for Consideration of the Bill (H.R. 2830) to Amend the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code of 1986 to Reform the Pension Funding Rules, and for Other Purposes.
• H.R. 4 (109^th) : Pension Protection Act of 2006
• S. 1783 (109^th) : Pension Security and Transparency Act of 2005
• S. 1783 (109^th) : Pension Security and Transparency Act of 2005
• S. 1783 (109^th) : Pension Security and Transparency Act of 2005
• S. 1953 (109^th) : National Employee Savings and Trust Equity Guarantee Act of 2005

Major Actions

Introduced	6/09/2005
Referred to Committee
Amendments (1 proposed)
Passed House	12/15/2005
Passed Senate	3/03/2006

Bill History

• All Votes
• All Actions
• Amendments

	Chamber/Committee	Motion	Date	Result
select this vote	House	On Motion to Recommit with Instructions: H.R. 2830 Pension Protection Act	12/15/2005	This motion DID NOT PASS the House 200 voted YES 227 voted NO 6 voted present/not voting
select this vote	House	On Passage - House - H.R. 2830 Pension Protection Act	12/15/2005	This bill PASSED the House 294 voted YES 132 voted NO 7 voted present/not voting
select this vote	Senate	Passed Senate with an amendment by Unanimous Consent.	3/03/2006	PASSED by voice vote
select this vote	Senate	Amendment SA 2901 agreed to in Senate by Unanimous Consent.	3/03/2006	PASSED by voice vote
select this vote	House	On Motion to Instruct Conferees: H.R. 2830 Pension Protection Act of 2005	3/08/2006	This motion PASSED the House 265 voted YES 158 voted NO 9 voted present/not voting
select this vote	House	On Motion to Instruct Conferees: H.R. 2830 Pension Protection Act of 2005	4/06/2006	This motion PASSED the House 248 voted YES 178 voted NO 6 voted present/not voting
currently selected	House	On Motion to Instruct Conferees: H.R. 2830 Pension Protection Act of 2005	5/04/2006	This motion PASSED the House 299 voted YES 125 voted NO 8 voted present/not voting
select this vote	House	On Motion to Instruct Conferees: H.R. 2830 Pension Protection Act of 2005	7/25/2006	This motion PASSED the House 281 voted YES 139 voted NO 12 voted present/not voting
select this vote	House	On Motion to Instruct Conferees: H.R. 2830 Pension Protection Act of 2005	7/27/2006	This motion PASSED the House 285 voted YES 126 voted NO 21 voted present/not voting

	Action	Date	Description
	Introduced	6/09/2005
		6/09/2005	Referred to the Committee on Education and the Workforce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
		6/09/2005	Referred to House Education and the Workforce
		6/09/2005	Referred to House Ways and Means
		6/15/2005	Committee Hearings Held.
		6/22/2005	Referred to the Subcommittee on Employer-Employee Relations.
		6/22/2005	Subcommittee Consideration and Mark-up Session Held.
		6/22/2005	Forwarded by Subcommittee to Full Committee (Amended) by Voice Vote.
		6/30/2005	Committee Consideration and Mark-up Session Held.
	Put on a legislative calendar	6/30/2005	Ordered to be Reported (Amended) by the Yeas and Nays: 27 - 0.
		9/22/2005	Reported (Amended) by the Committee on Education and the Workforce. H. Rept. 109-232, Part I.
		9/22/2005	House Committee on Ways and Means Granted an extension for further consideration ending not later than Sept. 30, 2005.
		9/30/2005	House Committee on Ways and Means Granted an extension for further consideration ending not later than Nov. 4, 2005.
		11/04/2005	House Committee on Ways and Means Granted an extension for further consideration ending not later than Nov. 18, 2005.
		11/09/2005	Committee Consideration and Mark-up Session Held.
	Put on a legislative calendar	11/09/2005	Ordered to be Reported (Amended) by the Yeas and Nays: 23 - 17.
		11/19/2005	House Committee on Ways and Means Granted an extension for further consideration ending not later than Dec. 6, 2005.
		12/06/2005	Reported (Amended) by the Committee on Ways and Means. H. Rept. 109-232, Part II.
	Put on a legislative calendar	12/06/2005	Placed on the Union Calendar, Calendar No. 172.
		12/15/2005	Rules Committee Resolution H. Res. 602 Reported to House. Rule provides for consideration of H.R. 2830 with 1 hour and 30 minutes of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. In lieu of the amendments recommended by the Committees on Education and the Workforce and Ways and Means now printed in the bill, the amendment in the nature of a substitute printed in part A of the report of the Committee on Rules accompanying this resolution shall be considered as adopted. Measure will be considered read. Bill is closed to amendments. During consideration of H.R. 2830 pursuant to this resolution, notwithstanding the operation of the previous question, the Chair may postpone further consideration of the bill to a time designated by the Speaker.
		12/15/2005	Rule H. Res. 602 passed House.
		12/15/2005	Considered under the provisions of rule H. Res. 602.
		12/15/2005	Rule provides for consideration of H.R. 2830 with 1 hour and 30 minutes of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. In lieu of the amendments recommended by the Committees on Education and the Workforce and Ways and Means now printed in the bill, the amendment in the nature of a substitute printed in part A of the report of the Committee on Rules accompanying this resolution shall be considered as adopted. Measure will be considered read. Bill is closed to amendments. During consideration of H.R. 2830 pursuant to this resolution, notwithstanding the operation of the previous question, the Chair may postpone further consideration of the bill to a time designated by the Speaker.
		12/15/2005	Amendment in the nature of a substitute reported by the House Committee on Rules.
		12/15/2005	DEBATE - Pursuant to the provisions of H. Res. 602, the House proceeded with 90 minutes of general debate on H.R. 2830.
		12/15/2005	On agreeing to the Rules amendment (A001) Agreed to pursuant to H. Res. 602.
		12/15/2005	The previous question was ordered pursuant to the rule.
		12/15/2005	Mr. Miller, George moved to recommit with instructions to Education and Labor and Ways and Means.
		12/15/2005	Floor summary: DEBATE - The House proceeded with 10 minutes of debate, equally divided and controlled, on the George Miller (CA) motion to recommit with instructions. The instructions contained in the motion seek to insert a complete new text.
		12/15/2005	The previous question on the motion to recommit with instructions was ordered without objection.
select this vote	Vote	12/15/2005	On Motion to Recommit with Instructions: H.R. 2830 Pension Protection Act
select this vote	House Vote on Passage	12/15/2005	On Passage - House - H.R. 2830 Pension Protection Act
		12/16/2005	Received in the Senate.
	Put on a legislative calendar	1/27/2006	Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 357.
		3/03/2006	Measure laid before Senate by unanimous consent.
		3/03/2006	Senate insists on its amendment, asks for a conference, appoints conferees Grassley; Hatch; Lott; Snowe; Santorum; Enzi; Gregg; DeWine; Isakson; Baucus; Rockefeller; Conrad; Bingaman; Kennedy; Harkin; Mikulski.
		3/03/2006	See also S.1783.
select this vote	Senate Vote on Passage	3/03/2006	Passed Senate with an amendment by Unanimous Consent.
		3/03/2006	Amendment SA 2901 proposed by Senator Frist.
select this vote	Vote	3/03/2006	Amendment SA 2901 agreed to in Senate by Unanimous Consent.
		3/06/2006	Message on Senate action sent to the House.
		3/08/2006	Mr. McKeon asked unanimous consent that the House disagree to the Senate amendment, and agree to a conference.
		3/08/2006	On motion that the House disagree to the Senate amendment, and agree to a conference Agreed to without objection.
		3/08/2006	Mr. Miller, George moved that the House instruct conferees.
		3/08/2006	DEBATE - The House proceeded with one hour of debate on the George Miller of California motion to instruct conferees. Instructions seek to direct the managers on the part of the House to (1) agree to the provisions contained in sections 403 and 413 of the Senate amendment; (2) insist on the provisions contained in section 907 of the bill as passed by the House; (3) insist on the provisions contained in section 902 of the bill as passed by the House; and (4) insist on a conference report that imposes the smallest additional funding requirements (permitted within the scope of conference) on companies that sponsor pension plans if there is no reasonable likelihood the termination of the plan would impose additional liabilities to the Pension Benefit Guaranty Corporation or there is no reasonable likelihood the plan sponsor would terminate the plan in bankruptcy.
		3/08/2006	The previous question was ordered without objection.
		3/08/2006	POSTPONED PROCEEDINGS - At the conclusion of debate on the George Miller of California motion to instruct conferees, the Chair put the question of adoption of the motion and by voice vote, announced that the noes had prevailed. Mr. George Miller of California demaned the yeas and nays and the Chair postponed further proceedings on adoption of the motion until later in the legislative day.
		3/08/2006	Considered as unfinished business.
		3/08/2006	The Speaker appointed conferees - from the Committee on Education and the Workforce for consideration of the House bill and the Senate amendment thereto, and modifications committed to conference: McKeon, Johnson, Sam, Kline, Tiberi, Miller, George, Payne, and Andrews.
		3/08/2006	The Speaker appointed conferees - from the Committee on Ways and Means for consideration of the House bill and the Senate amendment thereto, and modifications committed to conference: Thomas, Camp (MI), and Rangel.
		3/08/2006	The Speaker appointed a conferee for consideration of the House bill and the Senate amendment thereto, and modifications committed to conference: Boehner.
select this vote	Vote	3/08/2006	On Motion to Instruct Conferees: H.R. 2830 Pension Protection Act of 2005
		4/05/2006	NOTICE OF INTENT TO OFFER MOTION TO INSTRUCT - Mr. George Miller (CA) notified the House of his intention to offer a motion to instruct conferees on H.R. 2830.
		4/06/2006	Mr. Miller, George moved that the House instruct conferees.
		4/06/2006	DEBATE - The House proceeded with one hour of debate on the George Miller (CA) motion to instruct conferees. Instructions contained within the motion seek to instruct the managers on the part of the House to agree to the provisions contained in the Senate amendment regarding the prohibition of wearaway in connection with conversions to cash balance plans and the establishment of procedures affecting participants' benefits in connection with the conversion to such plans and not agree to the provisions contained in title VII of the bill as passed by the House.
		4/06/2006	The previous question was ordered without objection.
select this vote	Vote	4/06/2006	On Motion to Instruct Conferees: H.R. 2830 Pension Protection Act of 2005
		5/03/2006	Mr. Miller, George moved that the House instruct conferees.
		5/03/2006	DEBATE - The House proceeded with one hour of debate on the George Miller (CA) motion to instruct conferees. Instructions seek to direct the managers on the part of the House to recede to the provisions contained in the Senate amendment regarding restrictions on funding of nonqualified deferred compensation plans, except that (1) the managers insist that the restrictions regarding executive compensation, including under nonqualified plans, be the same as restrictions regarding benefits for workers and retirees under qualified pension plans, (2) managers insist that the definition of "covered employee" include the CEO of the plan sponsor, any other employee of the plan sponsor who is a "covered employee", and any other individual who is an officer or employee within the meaning of section 16(b) of the Securities Exchange Act of 1934, and (3) managers shall insist on the date in the House passed bill.
		5/03/2006	The previous question was ordered without objection.
		5/03/2006	POSTPONED PROCEEDINGS - At the conclusion of debate on the Miller (CA) motion to instruct conferees, the Chair put the question on adoption of the motion and by voice vote announced that the noes had prevailed. Mr. Miller (CA) demanded the yeas and nays and the Chair postponed further proceedings until later in the legislative day.
		5/03/2006	Considered as unfinished business.
currently selected	Vote	5/04/2006	On Motion to Instruct Conferees: H.R. 2830 Pension Protection Act of 2005
		7/20/2006	Mr. Miller, George moved that the House instruct conferees.
		7/20/2006	DEBATE - The House proceeded with one hour of debate on the George Miller (CA) motion to instruct conferees. Instructions seek to direct the managers on the part of the House to agree to the provisions contained in subsections (a) through (d) of section 601 of the Senate amendment; not to agree with the provisions contained in title VII of the bill as passed the House; and agree to the provisions contained in section 413 of the Senate amendment, but only with respect to plan terminations occurring on or after September 11, 2001.
		7/20/2006	The previous question was ordered without objection.
		7/20/2006	POSTPONED PROCEEDINGS - At the conclusion of debate on the George Miller (CA) motion to instruct conferees the Chair put the question on adoption of the motion and by voice vote, announced that the noes had prevailed. Mr. George Miller (CA) demanded the yeas and nays and the Chair postponed further proceedings on the question of adoption of the motion until a later time.
select this vote	Vote	7/25/2006	On Motion to Instruct Conferees: H.R. 2830 Pension Protection Act of 2005
		7/25/2006	Mr. Miller, George moved that the House instruct conferees.
		7/25/2006	DEBATE - The House proceeded with one hour of debate on the George Miller motion to instruct conferees.
		7/25/2006	The previous question was ordered without objection.
		7/25/2006	POSTPONED PROCEEDINGS - At the conclusion of debate on the George Miller motion to instruct conferees, the Chair put the question on adoption of the motion to instruct and by voice vote announced that the noes had prevailed. Mr. George Miller demanded the yeas and nays and the Chair postponed further proceedings on adoption of the motion until a time to be announced.
		7/27/2006	Considered as unfinished business.
select this vote	Vote	7/27/2006	On Motion to Instruct Conferees: H.R. 2830 Pension Protection Act of 2005

	Number	Sponsor	Date Offered	Status
select this vote	S. Amdt. 2901	Frist, William [R-TN]	March 3, 2006	Passed by voice vote on March 2, 2006.
	In the nature of a substitute. Show amendment details