S 2563 · 107th Congress 2001–2003, ended

A bill to amend the Internal Revenue Code of 1986 and the Employee Retirement Income Security Act of 1974 with respect to the interest rate range for additional funding requirements, and for other purposes.

Introduced May 23, 2002 Originated Senate Sponsor Chuck Grassley R-IA

Fact sheet

Latest action · May 23, 2002 Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S4853)

Progress

Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.

  1. IntroducedMay 23, 2002
  2. Passed SenateNot reached
  3. Passed HouseNot reached
  4. To the PresidentNot reached
  5. Became lawNot reached

Summary

Amends the Internal Revenue Code and the Employee Retirement Income Security Act of 1974 (ERISA) to apply to 2001 the 2002 and 2003 special interest rate range for additional funding requirements for pension plans by the Pension Benefit Guaranty Corporation (PBGC).

Amends ERISA to revise the formula for determining such range.

Amends the Retirement Protection Act of 1994 to establish special rules relating to funding liability percentages and the mortality table to be used for purposes of determining unfunded vested benefits.

Cosponsors 2

Members who signed on, in the order they did. All signed on May 23, 2002.

SeatCosponsorSigned on
D-MAJohn F. KerryOriginalMay 23, 2002
D-NJRobert G. TorricelliOriginalMay 23, 2002

Actions 3

Everything that happened, newest first.

  1. May 23, 2002Introduced in Senate
  2. May 23, 2002Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S4853)
  3. May 23, 2002Sponsor introductory remarks on measure. (CR S4852-4853)

Subjects

Assigned by the Library of Congress. Policy area: Labor and Employment.

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Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.