S. Amdt. 2583 - To Compute the Actuarial Value of Monthly Benefits in the Form of a Life Annuity Commencing at Age 60 for Certain Airline Pilots.

109th Congress (2005-2006) View amendment details
Sponsor:
This is an amendment to S. 1783 - Pension Security and Transparency Act of 2005
Senate Vote: Akaka Amdt. No. 2583

PASSED on November 16, 2005.

1/2 required to pass

voted YES: 58 voted NO: 41
1 voted present/not voting

Other Votes:

Pension Security and Transparency Act of 2005

S. 1783 — 109th Congress (2005–2006)

Summary
A bill 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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At OpenCongress
Title
A bill 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 Security and Transparency Act of 2005
  • Pension Security and Transparency Act of 2005
Sponsor
Chuck Grassley
Co-Sponsors
Subjects
  • Pensions
  • Administrative procedure
  • Age discrimination
  • Aged
  • Airline employees
  • Alabama
  • Annuities
  • Assassination
  • Bankruptcy
  • Black lung
  • Business
  • Civil rights
  • Civil service retirement
  • Coal
  • Congress
  • Congressional investigations
  • Corporate mergers
  • Cost of living adjustments
  • Criminal justice
  • Defined benefit pension plans
  • Defined contribution plans
  • Department of the Treasury
  • Disaster relief
  • Divorce
  • Education
  • Emergency management
  • Employee ownership
  • Energy
  • Families
  • Finance
  • Financial planning
  • Financial statements
  • Floods
  • Florida
  • Government employees
  • Government employees' life insurance
  • Government information
  • Government paperwork
  • Higher education
  • Hurricane aftermath legislation
  • Hurricanes
  • Income tax
  • Indians
  • Individual retirement accounts
  • Insurance premiums
  • Interest rates
  • Investment advisers
  • Investments
  • Judicial compensation
  • Labor
  • Law
  • Leave of absence
  • Legal education
  • Life insurance
  • Louisiana
  • Magistrates
  • Miners
  • Minorities
  • Mississippi
  • Pension funds
  • Pension trust guaranty insurance
  • Railroad retirement plans
  • Real estate investment
  • Retirement
  • Small business
  • Standards
  • Stocks
  • Survivors' benefits
  • Tax courts
  • Tax deductions
  • Tax exclusion
  • Tax-deferred compensation plans
  • Taxation
  • Teachers
  • Texas
  • Transportation
  • Unemployment insurance
  • Valuation
  • Workers' compensation
Related Bills
Major Actions
Introduced9/28/2005
Amendments (4 proposed)
Passed Senate11/16/2005
Bill History
Chamber/CommitteeMotionDateResult
select this voteSenateAmendment SA 2581 agreed to in Senate by Unanimous Consent.11/16/2005PASSED by voice vote
select this voteSenateAmendment SA 2582 agreed to in Senate by Voice Vote.11/16/2005PASSED by voice vote
currently selectedSenateAkaka Amdt. No. 258311/16/2005This amendment PASSED the Senate
58 voted YES 41 voted NO 1 voted present/not voting
select this voteSenateOn Passage - Senate - S.1783 as Amended11/16/2005This bill PASSED the Senate
97 voted YES 2 voted NO 1 voted present/not voting
ActionDateDescription
Introduced9/28/2005
Put on a legislative calendar9/28/2005Introduced in the Senate. Read twice. Ordered Placed on Senate Legislative Calendar under General Orders. Calendar No. 231.
11/16/2005Measure laid before Senate by unanimous consent.
11/16/2005Amendment SA 2581 proposed by Senator Enzi for Senator Grassley.
select this voteVote11/16/2005Amendment SA 2581 agreed to in Senate by Unanimous Consent.
11/16/2005Amendment SA 2582 proposed by Senator Isakson.
select this voteVote11/16/2005Amendment SA 2582 agreed to in Senate by Voice Vote.
11/16/2005Amendment SA 2583 proposed by Senator Akaka.
currently selectedVote11/16/2005Akaka Amdt. No. 2583
select this voteSenate Vote on Passage11/16/2005On Passage - Senate - S.1783 as Amended
12/22/2005Senate ordered measure printed as passed.
12/23/2005Message on Senate action sent to the House.
3/03/2006See also H.R.2830.
NumberSponsorDate OfferedStatus
S. Amdt. 1967Crapo, Michael [R-ID]October 3, 2005Offered on October 2, 2005.

Amendment information not available.

Show amendment details

select this voteS. Amdt. 2581Grassley, Charles [R-IA]November 16, 2005Passed by voice vote on November 15, 2005.

In the nature of a substitute.

Show amendment details

select this voteS. Amdt. 2582Isakson, John [R-GA]November 16, 2005Passed by voice vote on November 15, 2005.

To modify pension funding rules related to airlines, and for other purposes.

Show amendment details

currently selectedS. Amdt. 2583Akaka, Daniel [D-HI]November 16, 2005Passed by roll call vote on November 16, 2005.

To compute the actuarial value of monthly benefits in the form of a life annuity commencing at age 60 for certain airline pilots.

Actions

November 16, 2005, 12:00 am ET - Amendment SA 2583 proposed by Senator Akaka.
November 16, 2005, 2:31 pm ET - Akaka Amdt. No. 2583

Full Text of this Amendment

SA 2583. Mr. AKAKA (for himself, Mr. SPECTER, Mr. DURBIN, Mr. SALAZAR, Mr. INOUYE, and Mrs. FEINSTEIN) proposed an amendment to the bill S. 1783, 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; as follows:


At the end of title IV, add the following:
SEC. 4__. AGE REQUIREMENT FOR EMPLOYERS.
(a) Single-Employer Plan Benefits Guaranteed.--Section 4022(b) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1322(b)) is amended in the flush matter following paragraph (3), by adding at the end the following: ``If, at the time of termination of a plan under this title, regulations prescribed by the Federal Aviation Administration require an individual to separate from service as a commercial airline pilot after attaining any age before age 65, paragraph (3) shall
be applied to an individual who is a participant in the plan by reason of such service by substituting such age for age 65.''.
(b) Multiemployer Plan Benefits Guaranteed.--Section 4022B(a) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1322b(a)) is amended by adding at the end the following: ``If, at the time of termination of a plan under this title, regulations prescribed by the Federal Aviation Administration require an individual to separate from service as a commercial airline pilot after attaining any age before age 65, this subsection shall be applied to an individual who is a participant
in the plan by reason of such service by substituting such age for age 65.''.
(c) Effective Date.--The amendments made by this section shall apply to benefits payable on or after the date of enactment of this Act.


(As printed in the Congressional Record for the Senate on Nov 16, 2005.)

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0 Organizations Supported and 0 Opposed

Organizations that took a position on
Pension Security and Transparency Act of 2005: Akaka Amdt. No. 2583

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Includes reported contributions to congressional campaigns of Senators in office on day of vote, from interest groups invested in the vote according to MapLight, January 1, 2001 – December 31, 2006.
Contributions data source: OpenSecrets.org

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Legislator Filters
Legislator Filters
NamePartyState$ From Interest Groups
That Supported
$ From Interest Groups
That Opposed
Vote
Daniel K. AkakaDHI$0$0Yes
Andrew Lamar AlexanderRTN$0$0No
Alan Wayne AllardRCO$0$0No
George AllenRVA$0$0No
Max BaucusDMT$0$0No
Birch "Evan" BayhDIN$0$0Yes
Bob BennettRUT$0$0Yes
Joe BidenDDE$0$0Yes
Jesse "Jeff" BingamanDNM$0$0Yes
Christopher "Kit" BondRMO$0$0Yes
Barbara BoxerDCA$0$0Yes
Sam BrownbackRKS$0$0No
Jim BunningRKY$0$0No
Conrad BurnsRMT$0$0No
Richard BurrRNC$0$0Yes
Robert ByrdDWV$0$0Yes
Maria CantwellDWA$0$0Yes
Tom CarperDDE$0$0Yes
Lincoln ChafeeRRI$0$0Yes
Clarence Saxby ChamblissRGA$0$0Yes
Hillary ClintonDNY$0$0Yes
Tom CoburnROK$0$0No
William Thad CochranRMS$0$0No
Norm ColemanRMN$0$0Yes
Susan M. CollinsRME$0$0No
Gaylord Kent ConradDND$0$0Yes
John CornynRTX$0$0No
Jon CorzineDNJ$0$0Not Voting
Larry CraigRID$0$0No
Mike CrapoRID$0$0No
Mark DaytonDMN$0$0Yes
Jim DeMintRSC$0$0No
Mike DeWineROH$0$0Yes
Chris DoddDCT$0$0Yes
Mary Elizabeth DoleRNC$0$0Yes
Pete DomeniciRNM$0$0No
Byron DorganDND$0$0Yes
Dick DurbinDIL$0$0Yes
John EnsignRNV$0$0No
Mike EnziRWY$0$0No
Russ FeingoldDWI$0$0Yes
Dianne FeinsteinDCA$0$0Yes
Bill FristRTN$0$0No
Lindsey GrahamRSC$0$0No
Chuck GrassleyRIA$0$0No
Judd GreggRNH$0$0No
Chuck HagelRNE$0$0No
Tom HarkinDIA$0$0Yes
Orrin G. HatchRUT$0$0Yes
Kay Bailey HutchisonRTX$0$0Yes
Jim InhofeROK$0$0No
Dan InouyeDHI$0$0Yes
Johnny IsaksonRGA$0$0Yes
Jim JeffordsIVT$0$0Yes
Tim JohnsonDSD$0$0Yes
Ted KennedyDMA$0$0Yes
John F. KerryDMA$0$0Yes
Herb KohlDWI$0$0Yes
Jon KylRAZ$0$0No
Mary L. LandrieuDLA$0$0Yes
Frank R. LautenbergDNJ$0$0Yes
Patrick J. LeahyDVT$0$0Yes
Carl LevinDMI$0$0Yes
Joe LiebermanICT$0$0Yes
Blanche LincolnDAR$0$0Yes
Chester Trent LottRMS$0$0No
Dick LugarRIN$0$0Yes
Mel MartinezRFL$0$0No
John McCainRAZ$0$0No
Addison "Mitch" McConnellRKY$0$0No
Barbara A. MikulskiDMD$0$0Yes
Lisa MurkowskiRAK$0$0No
Patty MurrayDWA$0$0Yes
Earl "Ben" NelsonDNE$0$0Yes
Clarence "Bill" NelsonDFL$0$0Yes
Barack ObamaDIL$0$0Yes
Mark L. PryorDAR$0$0Yes
John "Jack" ReedDRI$0$0Yes
Harry ReidDNV$0$0Yes
Charles "Pat" RobertsRKS$0$0No
John "Jay" RockefellerDWV$0$0No
Ken SalazarDCO$0$0Yes
Rick SantorumRPA$0$0Yes
Paul SarbanesDMD$0$0Yes
Chuck SchumerDNY$0$0Yes
Jeff SessionsRAL$0$0No
Richard C. ShelbyRAL$0$0No
Gordon SmithROR$0$0No
Olympia J. SnoweRME$0$0No
Arlen SpecterDPA$0$0Yes
Debbie StabenowDMI$0$0Yes
Ted StevensRAK$0$0No
John SununuRNH$0$0No
Jim TalentRMO$0$0Yes
Craig ThomasRWY$0$0No
John ThuneRSD$0$0No
David VitterRLA$0$0No
George VoinovichROH$0$0No
John WarnerRVA$0$0Yes
Ron WydenDOR$0$0Yes

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