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 Collection: Congressional Research Service Reports
Pension Sponsorship and Participation: Summary of Recent Trends

Pension Sponsorship and Participation: Summary of Recent Trends

Date: August 31, 2006
Creator: Purcell, Patrick
Description: According to the Census Bureau's Current Population Survey (CPS), the number of private-sector workers between the ages of 25 and 64 whose employer sponsored a retirement plan fell from 53.1 million in 2004 to 52.5 million in 2005. This report analyzes the Current Population Survey and describes several elements, including: 1) the percentage of workers whose employer sponsored a retirement plan; 2) the percentage of workers who participated in an employer-sponsored retirement plan; 3) the likelihood of black, Hispanic, and other non-white workers to participate in an employer-sponsored retirement plan; and 4) the percentage of part-year or part-time workers in the private sector whose employer sponsored a retirement plan.
Contributing Partner: UNT Libraries Government Documents Department
Military Retirement: Major Legislative Issues

Military Retirement: Major Legislative Issues

Date: June 1, 2006
Creator: Henning, Charles A.
Description: The military retirement system includes benefits for retirement after an active or reserve military career, disability retirement, and survivor benefits for eligible survivors of deceased retirees. The change to the system that has generated the most recent legislative activity involves whether some or all military retirees should be allowed to receive both military retired pay and any VA disability compensation to which they are otherwise entitled; this is referred to as "concurrent receipt." Starting in 1999 (FY2000), provisions in each year's annual National Defense Authorization Act (NDAA) authorized payments to comparatively small groups (in the tens of thousands) of military retirees in lieu of concurrent receipt. The most significant military retirement issue Congress dealt with in 2005 was whether military retirees with a 100% VA unemployability rating, but less than a 100% disability rating, should be entitled to full concurrent receipt as was provided to 100% disability retirees in 2004.
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The Retirement Savings Tax Credit: A Fact Sheet

The Retirement Savings Tax Credit: A Fact Sheet

Date: August 7, 2006
Creator: Purcell, Patrick
Description: The Economic Growth and Tax Relief Reconciliation Act of 2001 authorized a non-refundable tax credit of up to $1,000 for eligible individuals who contribute to an IRA or an employer-sponsored retirement plan. The maximum credit is 50% of retirement contributions up to $2,000. This credit can reduce the amount of taxes owed, but the tax credit itself is non-refundable. The maximum credit is the lesser of either $1,000 or the tax that the individual would have owed without the credit. Eligibility is based on the taxpayer's adjusted gross income. The eligible income brackets are not indexed to inflation. Taxpayers under age 18 or who are full-time students are not eligible for the credit.
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U.S. Periods of War

U.S. Periods of War

Date: August 19, 2008
Creator: Torreon, Barbara Salazar
Description: Many wars or conflicts in U.S. history have federally designated "periods of war," dates marking their beginning and ending. These dates are important for qualification for certain veterans' pension or disability benefits. This report lists the beginning and ending dates for "periods of war" found in Title 38 of the Code of Federal Regulations, dealing with the Department of Veterans Affairs (VA). It also lists and differentiates other beginning dates given in declarations of war, as well as termination of hostilities' dates and armistice and ending dates given in proclamations, laws, or treaties.
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Veterans Benefits: An Overview

Veterans Benefits: An Overview

Date: June 25, 2008
Creator: Davis, Carol D.; Panangala, Sidath Viranga & Scott, Christine
Description: The Department of Veterans Affairs (VA) offers a wide range of benefits and services to eligible veterans, members of their families, and survivors of deceased veterans. VA programs include disability compensation and pensions, readjustment benefits, and health care programs. The VA also provides life insurance, burial benefits, housing and other loan guaranty programs, and special counseling and outreach programs. While eligibility for specific benefits varies, veterans generally must meet requirements related to discharge type and length of active duty military service. This report provides an overview of major VA benefits and the VA budget.
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Annuities and the Securities and Exchange Commission Proposed Rule 151A

Annuities and the Securities and Exchange Commission Proposed Rule 151A

Date: October 22, 2008
Creator: Webel, Baird
Description: The Securities and Exchange Commission (SEC) recently released a proposed rule that would effectively reclassify equity indexed annuities as a security product in addition to being an insurance product. This report presents the different types of annuities, explains the taxation of annuities, and disentangles the federal and state roles in the regulation of annuities. It outlines the proposed SEC rule and its current status.
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401(k) Plans and Retirement Savings: Issues for Congress

401(k) Plans and Retirement Savings: Issues for Congress

Date: July 14, 2009
Creator: Purcell, Patrick & Topoleski, John J.
Description: Over the past 25 years, defined contribution (DC) plans - including 401(k) plans - have become the most prevalent form of employer-sponsored retirement plan in the United States. This report describes seven major policy issues with respect to defined contribution plans: 1) access to employer-sponsored retirement plans; 2) participation in employer-sponsored plans; 3) contribution rates; 4) investment choices; 5) fee disclosure; 6) leakage from retirement savings; and 7) converting retirement savings into income.
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Cost-of-Living Adjustments for Federal Civil Service Annuities

Cost-of-Living Adjustments for Federal Civil Service Annuities

Date: October 16, 2008
Creator: Purcell, Patrick
Description: Cost-of-living adjustments (COLAs) for the Civil Service Retirement System (CSRS) and the Federal Employees Retirement System (FERS) are based on the rate of inflation as measured by the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). All CSRS retirees and survivors receive COLAs. Under FERS, however, non-disabled retirees under age 62 do not receive COLAs. This report discusses cost-of-living adjustments for government retirees, as well as related legislation.
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Brief Facts About Congressional Pensions

Brief Facts About Congressional Pensions

Date: January 13, 2004
Creator: Purcell, Patrick J.
Description: This report contains a table that lists the number of retired Members of Congress and the average amount of congressional pension they receive in retirement.
Contributing Partner: UNT Libraries Government Documents Department
Social Security: The Cost-of-Living Adjustment in January 2009

Social Security: The Cost-of-Living Adjustment in January 2009

Date: October 16, 2008
Creator: Sidor, Gary
Description: The 5.8% COLA payable in January 2009 was triggered by the rise in the CPI-W from the third quarter of 2007 to the third quarter of 2008. This COLA triggers identical percentage increases in Supplemental Security Income (SSI), veterans' pensions, and railroad retirement benefits, and causes other changes in the Social Security program. Although COLAs under the federal Civil Service Retirement System (CSRS) and the federal military retirement program are not triggered by the Social Security COLA, these programs use the same measuring period and formula for computing their COLAs. Their recipients will also receive a 5.8% COLA in January 2009.
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