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Retirement Enhancement Revenue Act of 2001

Introduced: December 11, 2001 See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 14, 2001
Sponsor introductory remarks on measure. (CR E2304)
Dec 11, 2001
Referred to the House Committee on Ways and Means.
Dec 11, 2001
Introduced in House
 Plain-English summary Congressional Research Service
Retirement Enhancement Revenue Act of 2001 - Amends the Internal Revenue Code, with respect to public employee pension plans, to set forth additional reporting and disclosure requirements and provide for the review of employee contribution changes by qualified review boards.

Establishes: (1) a limited refundable credit to certain individuals for elective deferrals and IRA contributions; and (2) a limited credit for qualified pension plan contributions of small employers.

Makes additional revisions to pension provisions, including: (1) requiring 401(k) plans to be offered to all eligible employees and to meet minimum coverage requirements; (2) increasing from the age of 70-and-one-half to age 75 the requirement to begin mandatory pension distributions; (3) permitting a statutory exemption from prohibited transaction rules for emergent transactions; (4) permitting loans from a pension plan for involuntarily separated employees for health insurance and job training expenses; and (5) permitting a prohibited transaction exemption for providing investment advice.

What's happening now December 14, 2001

Sponsor introductory remarks on measure. (CR E2304)

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Democratic 2