S. 3341 · 116th Congress
CEO and Worker Pension Fairness Act
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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
I
SandersSponsor2 cosponsors · 2 D
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill limits tax benefits for deferred compensation of highly compensated employees (e.g., corporate chief executive officers) and increases disclosure requirements for such compensation.
What it does: CRS summary · Introduced in Senate · Feb 27, 2020
CEO and Worker Pension Fairness Act
This bill limits tax benefits for deferred compensation of highly compensated employees (e.g., corporate chief executive officers) and increases disclosure requirements for such compensation.
The bill includes such deferred compensation in taxable income when there is no substantial risk of forfeiture (i.e., when vested) of the rights of the person entitled to such compensation rather than at distribution.
The bill transfers revenue from this revised tax treatment of deferred compensation from the Treasury to the Pension Benefit Guaranty Corporation to increase insurance coverage of multiemployer pension plans.
The bill requires the Department of Labor to report on nonqualified deferred compensation plans of highly compensated employees known as top hat plans. The Department of the Treasury must disclose amounts deferred under such plans on W-2 forms
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: CEO and Worker Pension Fairness Act
Latest action (Feb 27, 2020): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Feb 27, 2020
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.