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S 219 109th Congress Senate

National Employee Savings and Trust Equity Guarantee Act of 2005

Official title: A bill to amend the Internal Revenue Code of 1986 and the Employee Retirement Income Security Act of 1974 to protect the retirement security of American worker… Show full official titleShow less

Official title: A bill to amend the Internal Revenue Code of 1986 and the Employee Retirement Income Security Act of 1974 to protect the retirement security of American workers by ensuring that pension assets are adequately diversified and by providing workers with adequate access to, and information about, their pension plans, and for other purposes.

Introduced: January 31, 2005 Introduced by: Grassley, Chuck Republican · Iowa See on congress.gov
Labor and Employment Administrative procedureAlimonyAnnuitiesAssassination
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Black lungCivil service retirementCoalCollective bargainingCommerceCongressCongressional reporting requirementsCorporate divestitureCorporate mergersCorporation taxesCost of living adjustmentsCrime and Law EnforcementDefined benefit pension plansDefined contribution plansDepartment of the Treasury
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This bill died when the 109th Congress ended
It never became law before the 109th Congress (2005–2006) 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
Jan 31, 2005
Read twice and referred to the Committee on Finance.
Jan 31, 2005
Sponsor introductory remarks on measure. (CR S671-672)
Jan 31, 2005
Introduced in Senate
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 Latest action January 31, 2005

Read twice and referred to the Committee on Finance.

 Plain-English summary Congressional Research Service

National Employee Savings and Trust Equity Guarantee Act of 2005- Amends the Internal Revenue Code and the Employee Retirement Income Security Act of 1974 (ERISA) to require defined contribution plans to allow employees to divest employer stock and diversify their pension asset investments.

Revises requirements relating to: (1) information to assist pension plan participants; (2) protection of plan participants; (3) pension plan funding and deductions; (4) the Pension Benefit Guaranty Corporation (PBGC); (5) replacement of the interest rate of 30-year treasury securities for purposes of funding, PBGC premium rates, and calculating lump-sum distributions; (6) portability and distribution rules; (7) the Employee Plans Compliance Resolution System; (8) spousal pension protection, including spousal consent for distributions from defined contribution plans and division of pension benefits upon divorce; (9) railroad retirement; (10) joint and survivor annuity benefits; and (11) compensation and pensions of Tax Court judges.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). S. 219: National Employee Savings and Trust Equity Guarantee Act of 2005. 109th Congress. Open America. https://openamerica.io/bill/109-S-219/
MLA
"S. 219: National Employee Savings and Trust Equity Guarantee Act of 2005." 109th Congress, 2026, Open America, https://openamerica.io/bill/109-S-219/.
Bluebook (legal)
S. 219, 109th Cong. (2026), https://openamerica.io/bill/109-S-219/.
Markdown link
[S. 219: National Employee Savings and Trust Equity Guarantee Act of 2005](https://openamerica.io/bill/109-S-219/)
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