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HR 2458 108th Congress House Taxation Annuities Government Operations and Politics Government paperwork Income tax Individual retirement accounts Labor and Employment Pension funds Tax exclusion Tax-deferred compensation plans

Secure Annuity Income for Life Act of 2003

Introduced: June 12, 2003 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
Jun 13, 2003
Sponsor introductory remarks on measure. (CR E1246-1247)
Jun 12, 2003
Referred to the House Committee on Ways and Means.
Jun 12, 2003
Introduced in House
 Plain-English summary Congressional Research Service

Secure Annuity Income for Life Act of 2003 - Amends the Internal Revenue Code to exclude from gross income a percentage of lifetime annuity payments from a qualified trust to a qualified distributee. Provides for recapture and taxation of payments that are modified (other than by death or disability) so as to not qualify as lifetime annuity payments.

Applies such exclusion to: (1) section 403(a) plans (employee annuities); (2) section 403(b) plans (public schools and certain tax exempt organizations); (3) section 408 plans (individual retirement accounts); and (4) section 457 plans (deferred compensation plans for State and local governments and tax-exempt organizations).

Defines: (1) "lifetime annuity payment"; and (2) "qualified distributee."

What's happening now June 13, 2003

Sponsor introductory remarks on measure. (CR E1246-1247)

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1