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HR 4005 104th Congress House Labor and Employment Finance and Financial Sector Income tax Investments Law Pension funds Tax penalties Taxation Trusts and trustees

Pension Choice and Security Act of 1996

Introduced: August 2, 1996 Introduced by: Schumer, Charles E. Democratic · New York See on congress.gov
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This bill died when the 104th Congress ended
It never became law before the 104th Congress (1995–1996) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 6, 1996
Referred to the Subcommittee on Employer-Employee Relations.
Aug 2, 1996
Referred to the Committee on Economic and Educational Opportunities, and in addition to the Committee on Ways and Means, 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.
Aug 2, 1996
Introduced in House
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 Plain-English summary Congressional Research Service

Pension Choice and Security Act of 1996 - Amends the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code (IRC) to require the availability of a defined contribution plan option for participants in defined benefit plans.

Amends ERISA to require timely investment by fiduciaries of pension plan contributions.

Amends the IRC to increase the penalty for early distributions from pension plans.

What's happening now September 6, 1996

Referred to the Subcommittee on Employer-Employee Relations.

 Related & companion bills 1
  • S 462 Related bill A bill to provide for the temporary suspension of the reformulated gasoline rules under the Clean Air Act.
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 3
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APA
U.S. Congress. (2026). H.R. 4005: Pension Choice and Security Act of 1996. 104th Congress. Open America. https://openamerica.io/bill/104-HR-4005/
MLA
"H.R. 4005: Pension Choice and Security Act of 1996." 104th Congress, 2026, Open America, https://openamerica.io/bill/104-HR-4005/.
Bluebook (legal)
H.R. 4005, 104th Cong. (2026), https://openamerica.io/bill/104-HR-4005/.
Markdown link
[H.R. 4005: Pension Choice and Security Act of 1996](https://openamerica.io/bill/104-HR-4005/)
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