S. 1802 · 109th Congress
Pension Flexibility in Natural Disasters Act of 2005
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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
EnziSponsorNo cosponsors.
Pension Flexibility in Natural Disasters Act of 2005 - Authorizes the Secretary of Labor to issue waivers, suspensions, or exemptions from requirements under the Employee Retirement Income Security Act of 1974 (ERISA) in the case of individual account pension plans, or persons or service providers involved with or dealing with such plans, that are affected…
What it does: CRS summary · Introduced in Senate · Sep 29, 2005
Pension Flexibility in Natural Disasters Act of 2005 - Authorizes the Secretary of Labor to issue waivers, suspensions, or exemptions from requirements under the Employee Retirement Income Security Act of 1974 (ERISA) in the case of individual account pension plans, or persons or service providers involved with or dealing with such plans, that are affected by Hurricane Katrina or Rita.
Directs the Secretaries of Labor and of the Treasury and the Executive Director of the Pension Benefit Guaranty Corporation (PBGC) to exercise authority under ERISA and the Internal Revenue Code to postpone certain deadlines, by reason of the presidentially declared disaster areas in Louisiana, Mississippi, Alabama, Texas, and elsewhere, due to the effect of Hurricane Katrina or Rita.
Amends ERISA to extend to regulations issued under ERISA and plan provisions the Secretary's current authority to prescribe a one-year extension of ERISA deadlines, under such regulations or plan provisions, in the event of presidentially declared disasters or terrorist or military actions.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Pension Flexibility in Natural Disasters Act of 2005
Latest action (Sep 30, 2005): Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 233.
Policy area: Labor and Employment · Origin: Senate · Introduced: Sep 29, 2005
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.