S 381
109th Congress
Senate
Taxation
Annuities
Cost of living adjustments
Economics and Public Finance
Finance and Financial Sector
Income tax
Indexing (Economic policy)
Labor and Employment
Life insurance
Tax exclusion
Tax-deferred compensation plans
Retirement Security for Life Act of 2005
Introduced: February 15, 2005
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 15, 2005
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S1423-1424)
Feb 15, 2005
Sponsor introductory remarks on measure. (CR S1423)
Feb 15, 2005
Introduced in Senate
Plain-English summary
Retirement Security for Life Act of 2005 - Amends the Internal Revenue Code to allow an exclusion from gross income for 50 percent of the amount otherwise includible in gross income as guaranteed payments from certain annuity or life insurance contracts. Limits the amount of such exclusion to $20,000 in any taxable year. Provides for an inflation adjustment of the $20,000 limitation beginning in 2007.
What's happening now
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S1423-1424)
Committees of jurisdiction
1