Pension Protection Technical Corrections Act of 2008
Latest action · Aug 1, 2008 Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
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.
- IntroducedJun 26, 2008
- Passed HouseJul 9, 2008
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)
Pension Protection Technical Corrections Act of 2008 - Title I: Technical Corrections Related to the Pension Protection Act of 2006 - (Sec. 101) Makes technical corrections to the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code to conform to the Pension Protection Act of 2006 regarding various specified items, including: (1) the target normal cost of benefits; (2) specified implementation and effective dates for certain requirements; (3) one-participant retirement plans; (4) special age-related rules in accrued benefit requirements for applicable defined benefit plans; (5) inapplicability in certain cases of the limitation on income deductions (for tax purposes) for employer contributions to one or more defined contribution plans; and (6) adjustments to averaging in the determination of the value of the assets of single-employer defined benefit pension plans for minimum funding purposes.
(Sec. 110) Makes technical corrections to the Railroad Retirement Act of 1974 with respect to railroad retirement payments to persons not entitled to an annuity.
Title II: Other Provisions - (Sec. 201) Requires that the value of assets for any ERISA plan under the averaging method be adjusted for expected earnings (in addition to contributions and distributions, as under current law).
(Sec. 202) Modifies the interest rate assumption required with respect to certain small employer plans.
(Sec. 203) Makes technical corrections to the Age Discrimination in Employment Act of 1967 with respect to special age-related rules for determination of the market rate of return in the calculation of interest credits in governmental defined benefit plans.
(Sec. 204) Prescribes a special rule for exclusion from gross income of certain reimbursements from governmental plans for health care expenses of a deceased plan participant's beneficiary.
(Sec. 205) Requires treatment as a qualified rollover contribution of any airline payment amount received by a qualified airline employee in an airline carrier bankruptcy which is transferred to a Roth IRA.
(Sec. 206) Increases by $4 the penalties for failure to file partnership returns and S corporation returns.
Cosponsors 1
Members who signed on, in the order they did. All signed on Jun 26, 2008.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-CA | George Miller | Original | Jun 26, 2008 |
Committees 3
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Ways and Means Committee | Referred Jun 26, 2008 |
| House | Education and Workforce Committee | Referred Jun 26, 2008 |
| Senate | Health, Education, Labor, and Pensions Committee | Referred Aug 1, 2008 |
Actions 9
Everything that happened, newest first.
- Aug 1, 2008Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
- Jul 10, 2008Received in the Senate.
- Jul 9, 2008Mr. Pomeroy moved to suspend the rules and pass the bill.
- Jul 9, 2008Considered under suspension of the rules. (consideration: CR H6243-6252)
- Jul 9, 2008DEBATE - The House proceeded with forty minutes of debate on H.R. 6382.
- Jul 9, 2008Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H6243-6249)
- Jul 9, 2008Motion to reconsider laid on the table Agreed to without objection.
- Jun 26, 2008Introduced in House
- Jun 26, 2008Referred to the Committee on Ways and Means, and in addition to the Committee on Education and Labor, 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.
In the Congressional Record 1
Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.
| Where | In the Record | Members | Date |
|---|---|---|---|
| House | Debate and remarks H6243–H6252Text printed H6243–H6249 | Earl Pomeroy D-ND, George Miller D-CA, Jim Ramstad R-MN, John Lewis D-GA, Robert E. Andrews D-NJ | Jul 9, 2008 |
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Printed hearings 2
Hearings whose printed record names this bill, newest first: hearings on it, and wider hearings where it came up.
| Number | Hearing | Committee | Held |
|---|---|---|---|
| Serial No. 110-101 | ECONOMIC RECOVERY AND JOB CREATION THROUGH INVESTMENT IN AMERICA328 pages | Ways and Means Committee | Oct 29, 2008 |
| 110-772 | YOUR MONEY, YOUR FUTURE: PUBLIC PENSION PLANS AND THE NEED TO STRENGTHEN RETIREMENT SECURITY AND ECONOMIC GROWTH108 pages | Joint Economic Committee | Jul 10, 2008 |
Related bills 3
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 1974 | Pension Protection Technical Corrections Act of 2007 | Related bill | Dec 19, 2007 |
| HR 3361 | Pension Protection Technical Corrections Act of 2008 | Related bill | Mar 31, 2008 |
| HR 7327 | Worker, Retiree, and Employer Recovery Act of 2008 | Related bill | Dec 23, 2008 |
Titles 3
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To make technical corrections related to the Pension Protection Act of 2006, and for other purposes.
- Short Titles as Introduced
- Pension Protection Technical Corrections Act of 2008
- Short Titles as Passed House
- Pension Protection Technical Corrections Act of 2008
Subjects
Assigned by the Library of Congress. Policy area: Labor and Employment.
- Administrative procedure
- Airline employees
- Airlines
- Bankruptcy
- Civil service retirement
- Commerce
- Defined benefit pension plans
- Defined contribution plans
- Department of the Treasury
- Finance and Financial Sector
- Government employees' health insurance
- Government Operations and Politics
- Government paperwork
- Health
- Income tax
- Individual retirement accounts
- Interest rates
- Labor and Employment
- Law
- Partnerships
- Pension funds
- Small business
- Standards
- Tax deductions
- Tax evasion
- Tax exclusion
- Tax penalties
- Tax returns
- Taxation
- Transportation and Public Works
- Trusts and trustees
Text 3
Each version as it was printed, newest first.
- Aug 1, 2008Referred in Senate
- Jul 9, 2008Engrossed in House
- Jun 26, 2008Introduced in House
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; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
