Congress 107 - HR 3488 - Retirement Opportunity Expansion Act of 2001

Sponsor

Cosponsors

Topics

Annuities Business income tax Commerce Congress Congressional reporting requirements Cost of living adjustments Death Defined benefit pension plans Defined contribution plans Executive compensation Executives Families Family leave Finance and Financial Sector Government Operations and Politics Government paperwork Governmental investigations Income tax Individual retirement accounts Insurance premiums Labor and Employment Law Married people Payroll deductions Pension funds Pension trust guaranty insurance Personal income tax Sick leave Small business Social Welfare Support of dependents Survivors' benefits Tax credits Tax deductions Tax exclusion Tax penalties Tax refunds Tax returns Tax-deferred compensation plans Taxation Trusts and trustees Women Women's retirement

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Summary

Retirement Opportunity Expansion Act of 2001 - Amends the Internal Revenue Code and the Employee Retirement Income Security Act of 1974 (ERISA), with respect to retirement and pension provisions, to: (1) provide a refundable credit to eligible individuals for elective deferrals and IRA contributions; (2) provide for qualified payroll deduction arrangements for IRA contributions; (3) modify joint and survivor annuity requirements; (4) require written spousal consent for certain distributions from 401(k) plans; (5) provide for full vesting upon death or disability; (6) provide for a holding period when a plan administrator is notified of a potential qualified domestic relations order alternate payee; (7) study pension plan participation by women and other underrepresented groups; (8) treat periods of family and medical leave as hours of service for pension participation and vesting; (9) establish a credit for qualified pension plan contributions of small employers; (10) permit employers to establish secure money annuity or retirement (SMART) trusts; and (11) redefine the term "highly compensated employee."

Actions

Apr 5, 2002

Referred to the Subcommittee on Employer-Employee Relations.
Dec 14, 2001

Sponsor introductory remarks on measure. (CR E2295-2296)
Dec 13, 2001

Referred to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Dec 13, 2001

Introduced in House

Amendments

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