Congressional Research Service Reports - 267 Matching Results

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S. 219: The National Employee Savings and Trust Equity Guarantee Act

Description: On July 26, 2005, the Senate Finance Committee approved S. 219, the “National Employee Savings and Trust Equity Guarantee (NESTEG) Act of 2005,” a bill to reform federal pension laws. This report summarizes the major provisions of the bill, as approved by the Committee.
Date: August 12, 2005
Creator: Purcell, Patrick J.
Partner: UNT Libraries Government Documents Department

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

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.
Date: July 14, 2009
Creator: Purcell, Patrick & Topoleski, John J.
Partner: UNT Libraries Government Documents Department

S. 1783: The Pension Security and Transparency Act of 2005

Description: On September 28, the Senate Finance Committee and the Senate Committee on Health, Education, Labor, and Pensions announced that they had reached a compromise on a pension reform bill for consideration by the full Senate. The compromise bill has been introduced as S. 1783, “The Pension Security and Transparency Act of 2005.” S. 1783 combines provisions of S. 219, “The National Employee Savings and Trust Equity Guarantee Act,” reported by the Finance Committee, and “The Defined Benefit Security Act,” reported by the Committee on Health, Education, Labor, and Pensions. This report summarizes the major provisions of the compromise bill, as announced by the chairmen and ranking members of the two committees.
Date: October 3, 2005
Creator: Purcell, Patrick J.
Partner: UNT Libraries Government Documents Department

S. 1783: The Pension Security and Transparency Act of 2005

Description: From Summary: "This report summarizes the major provisions of S. 1783, the Pension Security and Transparency Act 2005. The bill combines provisions of S. 219, the National Employee Savings and Trust Equity Guarantee Act, reported by the Finance Committee, and the Defined Benefit Security Act, reported by the Committee on Health, Education, Labor, and Pensions."
Date: October 18, 2005
Creator: Purcell, Patrick
Partner: UNT Libraries Government Documents Department

Age Dependency Ratios and Social Security Solvency

Description: As highlighted by the Social Security Administration (SSA), the aging of the (United States) population, hastened by the impending retirement of the huge baby-boom generation, has caused policy-makers to question whether the U.S. Social Security system can meet the demands for retirement benefits in the future. Because the current system largely pays benefits through taxes paid by current workers, the financial health of the system is sensitive to the ratio of dependents to workers—sometimes called the age dependency ratio or support ratio. Trends and projections of dependency ratios, including the relationship between both older (years 65 and older) and younger (under age 20) dependents to the working-age population in the United States are considered in the first section of this demographic report. Next, the United States is compared to nine other nations, including the seven other members of the G8. In the final section, policy implications of the changing dependent-to-worker ratios are considered in the context of pay-as-you-go (paygo) social security systems.
Date: October 27, 2006
Creator: Shrestha, Laura B.
Partner: UNT Libraries Government Documents Department

Annuities and the Securities and Exchange Commission Proposed Rule 151A

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.
Date: October 22, 2008
Creator: Webel, Baird
Partner: UNT Libraries Government Documents Department

Automatic Cost of Living Adjustments: Some Economic and Practical Considerations

Description: This report looks at how automatic cost-of-living adjustments (COLAs) influence the budget and identifies major programs that have indexing provisions. It also explains what price indexes attempt to measure and discusses some of their weaknesses. Finally, it points out some practical things to keep in mind when establishing an indexing provision.
Date: January 11, 2010
Creator: Cashell, Brian W.
Partner: UNT Libraries Government Documents Department

Automatic Enrollment in Section 401(k) Plans

Description: This report discusses enrollment practices for 401k retirement plans. Historically, most employers that have sponsored retirement savings plans under §401(k) of the Internal Revenue Code (IRC) have required employees to decide whether to enroll in the plan. The Internal Revenue Service (IRS) has issued rulings to inform employers that current law allows them to enroll employees automatically, provided that the employee is notified in advance and is permitted to leave the plan.
Date: October 14, 2004
Creator: Purcell, Patrick
Partner: UNT Libraries Government Documents Department

Brief Facts About Congressional Pensions

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.
Date: January 13, 2004
Creator: Purcell, Patrick J.
Partner: UNT Libraries Government Documents Department

Budget Reconciliation and the PBGC

Description: The Pension Benefit Guaranty Corporation (PBGC) posted a deficit of $23.5 billion as of the latest reporting period, and the deficit is expected to grow further. Major bills introduced in the 109th Congress to reform funding rules for the defined benefit pension system and to raise PBGC premiums include H.R. 2830 and S. 1783. Neither has yet passed the full House or Senate. PBGC premiums are an important source of revenue for meeting the budget reconciliation targets. The House Budget Committee has reported out H.R. 4241, a budget reconciliation package that would raise PBGC premiums. The Senate has passed S. 1932, a budget reconciliation package that also contains PBGC premium increases.
Date: November 10, 2005
Creator: Renade, Neela K
Partner: UNT Libraries Government Documents Department

Can the Pension Benefit Guaranty Corporation Be Restored to Financial Health?

Description: In 2003, the Bush administration made a proposal for reform to strengthen pension plan funding and the financial condition of the Pension Benefit Guaranty Corporation (PBGC). Various bills with the goal of reforming the PBGC were proposed in the 108th Congress but none were enacted into law. The doubling of the PBGC deficit from fiscal 2003 to fiscal 2004, has heightened awareness about the PBGC deficit situation. Congressional leaders from both parties have announced their intention to move aggressively on legislative solutions in the 109th Congress.
Date: December 16, 2004
Creator: Ranade, Neela K.
Partner: UNT Libraries Government Documents Department

Cash Balance Pension Plans: Selected Legal Issues

Description: Over the past few years, cash balance pension plans have received significant attention. In particular, three issues have been controversial: the negative effect of a plan conversion on older employees due to wear-away, the whipsaw effect that may occur when computing a lump-sum payment of benefits prior to normal retirement age, and the claim that these plans violate federal laws prohibiting age discrimination. This report discusses the wear-away and whipsaw issues, a proposal by the Treasury Department that addresses them, and relevant legislation introduced in the 109th Congress (H.R. 2830 and S. 1304).
Date: July 29, 2005
Creator: Lunder, Erika & Staman, Jennifer
Partner: UNT Libraries Government Documents Department

Coast Guard Polar Icebreaker Modernization: Background and Issues for Congress

Description: This report provides background information and issues for Congress on the sustainment and modernization of the Coast Guard's polar icebreaker fleet. Congressional decisions on this issue could affect Coast Guard funding requirements, the Coast Guard's ability to perform its polar missions, and the U.S. shipbuilding industrial base.
Date: November 20, 2015
Creator: O'Rourke, Ronald
Partner: UNT Libraries Government Documents Department

Coast Guard Polar Icebreaker Modernization: Background and Issues for Congress

Description: This report provides background information and issues for Congress on the sustainment and modernization of the Coast Guard's polar icebreaker fleet. Congress's decisions on this issue could affect Coast Guard funding requirements, the Coast Guard's ability to perform its polar missions, and the U.S. shipbuilding industrial base.
Date: April 4, 2016
Creator: O'Rourke, Ronald
Partner: UNT Libraries Government Documents Department

COLAs for Military Retirees: Summary of Congressional and Executive Branch Action, 1982-2001 (FY1983-FY2002)

Description: The Omnibus Reconciliation Act of 1982 (which applied to FY1983 budget issues) suspended previously existing permanent law pertaining to cost-of-living adjustments(COLAs) for federal civilian and military retirees, and changed the COLA calculation formulas to postpone and/or reduce future COLAs for military retirees during 1983-1985 (FY1984-FY1986).This report examines executive and congressional COLA-related initiatives associated with each of the fiscal year budgeting processes from calendar year 1982 (FY1983) through calendar year 2000 (FY2001).
Date: January 2, 2002
Creator: Goldich, Robert L.
Partner: UNT Libraries Government Documents Department

COLAs for Military Retirees: Summary of Congressional and Executive Branch Action, 1982-2002 (FY1983-FY2003)

Description: The Omnibus Reconciliation Act of 1982 (which applied to FY1983 budget issues) suspended previously existing permanent law pertaining to cost-of-living adjustments(COLAs) for federal civilian and military retirees, and changed the COLA calculation formulas to postpone and/or reduce future COLAs for military retirees during 1983-1985 (FY1984-FY1986).This report examines executive and congressional COLA-related initiatives associated with each of the fiscal year budgeting processes from calendar year 1982 (FY1983) through calendar year 2000 (FY2001).
Date: November 29, 2002
Creator: Goldich, Robert L.
Partner: UNT Libraries Government Documents Department

COLAs for Military Retirees: Summary of Congressional and Executive Branch Action, 1982-2003 (FY1983-FY2004)

Description: The Omnibus Reconciliation Act of 1982 (which applied to FY1983 budget issues) suspended previously existing permanent law pertaining to cost-of-living adjustments(COLAs) for federal civilian and military retirees, and changed the COLA calculation formulas to postpone and/or reduce future COLAs for military retirees during 1983-1985 (FY1984-FY1986).This report examines executive and congressional COLA-related initiatives associated with each of the fiscal year budgeting processes from calendar year 1982 (FY1983) through calendar year 2000 (FY2001).
Date: January 2, 2004
Creator: Goldich, Robert L.
Partner: UNT Libraries Government Documents Department

Concurrent Receipt of Military Retirement and VA Disability Benefits: Budgetary Issues

Description: House and Senate conferees on the FY2003 National Defense Authorization Act (H.R. 4546) are currently considering provisions that would lift the longstanding prohibition on concurrent receipt (simultaneous payment) of Department of Defense (DoD) retired pay and Department of Veterans’ Affairs (VA) disability benefits. The House-passed bill would phase in partial concurrent receipt by providing both retirement and VA benefits for those with disabilities of 60 percent or above by FY2007. The Senate-passed bill provides full concurrent receipt for military retirees with any disability rating in FY2003.
Date: November 15, 2002
Creator: Belasco, Amy
Partner: UNT Libraries Government Documents Department

Concurrent Receipt of Military Retirement and VA Disability Benefits: Budgetary Issues

Description: House and Senate conferees on the FY2003 National Defense Authorization Act (H.R. 4546) are currently considering provisions that would lift the longstanding prohibition on concurrent receipt (simultaneous payment) of Department of Defense (DoD) retired pay and Department of Veterans’ Affairs (VA) disability benefits. The House-passed bill would phase in partial concurrent receipt by providing both retirement and VA benefits for those with disabilities of 60 percent or above by FY2007. The Senate-passed bill provides full concurrent receipt for military retirees with any disability rating in FY2003.
Date: October 3, 2002
Creator: Belasco, Amy
Partner: UNT Libraries Government Documents Department

Congressional Salaries and Allowances

Description: This report provides basic information on congressional salaries and allowances. First, the report briefly summarizes the current salary of Members of Congress, limits on their outside earned income and honoraria, and applicable health insurance and retirement benefits. Second, it provides information on allowances available to Representatives and Senators to support them in their official and representational duties as Members. Third, it provides the salaries and allowances available to the Speaker of the House and the Vice President, as President of the Senate, and lists the salaries of congressional officers and officials and committee staff.
Date: August 5, 2004
Creator: Dwyer, Paul E.
Partner: UNT Libraries Government Documents Department

Congressional Salaries and Allowances

Description: This report provides basic information on congressional salaries and allowances and recent developments. First, the report briefly summarizes the current salary of Members of Congress; limits or prohibitions on their outside earned income, honoraria, and tax deductions; options for life and health insurance; and retirement benefits. Second, the report provides information on allowances available to Representatives and Senators to support them in their official and representational duties.
Date: January 15, 2013
Creator: Brudnick, Ida A.
Partner: UNT Libraries Government Documents Department

Congressional Salaries and Allowances: In Brief

Description: This report provides basic information on congressional salaries and allowances and recent developments. First, the report briefly summarizes the current salary of Members of Congress; limits or prohibitions on their outside earned income, honoraria, and tax deductions; options for life and health insurance; and retirement benefits. Second, the report provides information on allowances available to Representatives and Senators to support them in their official and representational duties.
Date: December 30, 2014
Creator: Brudnick, Ida A.
Partner: UNT Libraries Government Documents Department

Converting Retirement Savings into Income: Annuities and Periodic Withdrawals

Description: To a worker contemplating retirement, there is perhaps no more important question than "How long will my money last?" Congress has a strong interest in the income security of older Americans because much of their income is either provided directly from public programs like Social Security, or in the case of pensions and retirement accounts, is subsidized through tax deductions and deferrals. This report discusses risks involved with retirement fund disbursement and strategies for dealing with such risks.
Date: December 1, 2008
Creator: Mulvey, Janemarie & Purcell, Patrick
Partner: UNT Libraries Government Documents Department