S. 1063 · 111th Congress
USEC Privatization Amendments Act of 2009
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
BrownSponsorNo cosponsors.
USEC Privatization Amendments Act of 2009 - Directs the Secretary of Energy to establish a program for paying certain affected participants a one-time lump sum payment.
What it does: CRS summary · Introduced in Senate · May 18, 2009
USEC Privatization Amendments Act of 2009 - Directs the Secretary of Energy to establish a program for paying certain affected participants a one-time lump sum payment.
Defines affected participants as persons who retired from active employment at one of the gaseous diffusion plants of the United States Enrichment Corporation (USEC), or are employed by USEC's operating contractor, on or before its privatization date as vested participants in a pension plan maintained either by USEC's operating contractor or by a contractor employed prior to July 1, 1993, by the Department of Energy to operate a gaseous diffusion plant.
Prescribes a formula for the determination of such payments, based on the total recoverable amount of accrued pension benefits.
Authorizes any affected participant who receives such a payment to make one or more rollover contributions up to the payment amount to a regular (non-Roth) individual retirement account (IRA), which shall be excluded from gross income for tax purposes under the Internal Revenue Code. Includes in gross income any such rollover into a Roth IRA.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: USEC Privatization Amendments Act of 2009
Latest action (May 18, 2009): Read twice and referred to the Committee on Finance.
Policy area: Labor and Employment · Origin: Senate · Introduced: May 18, 2009
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.