S. 1359 · 109th Congress
Retirement Savings and Security Act of 2005
Key: what the circles and colors mean
Each circle is a bill. The ring fills as it moves through Congress:
Under the number: the Yea · Nay count of its final (or latest) recorded vote. On a member's page, the small badge is how that member voted: Y Yea / Aye, N Nay / No, P Present, – Not voting.
Gold and violet are only for Yea and Nay; they never mean a party. A member's party is the letter on their photo.
Never voted on. It didn't reach a floor vote before the 109th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
SmithSponsor1 cosponsor · 1 D
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Retirement Savings and Security Act of 2005 - Amends the Internal Revenue Code to: (1) permit tax-exempt retirement and employee benefit plans to include an automatic contribution arrangement; (2) revise the income limits for the tax credit for retirement savings contributions and extend such credit through 2010; (3) permit the contribution of up to $500 of…
What it does: CRS summary · Introduced in Senate · Jun 30, 2005
Retirement Savings and Security Act of 2005 - Amends the Internal Revenue Code to: (1) permit tax-exempt retirement and employee benefit plans to include an automatic contribution arrangement; (2) revise the income limits for the tax credit for retirement savings contributions and extend such credit through 2010; (3) permit the contribution of up to $500 of unused health benefits under a health flexible spending arrangement to a qualified retirement plan or a deferred compensation plan; (4) permit direct payment of tax refunds to individual retirement accounts; and (5) exclude from gross income certain lifetime annuity payments; and (6) extend to six months the period for distributing excess contributions to qualified pension plans without penalty.
Amends the Employee Retirement Income Security Act of 1974 (ERISA) to: (1) allow for certain retirement plan rollovers and annuity distributions; (2) treat Indian tribal pension plans as tax-qualified governmental plans; and (3) allow for changes in pension plan investment options.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Retirement Savings and Security Act of 2005
Latest action (Jun 30, 2005): Read twice and referred to the Committee on Finance.
Policy area: Labor and Employment · Origin: Senate · Introduced: Jun 30, 2005
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.