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S 1010 110th Congress Senate

Retirement Security for Life Act of 2007

Official title: A bill to amend the Internal Revenue Code of 1986 to encourage guaranteed lifetime income payments from annuities and similar payments of life insurance procee… Show full official titleShow less

Official title: A bill to amend the Internal Revenue Code of 1986 to encourage guaranteed lifetime income payments from annuities and similar payments of life insurance proceeds at dates later than death by excluding from income a portion of such payments.

Introduced: March 28, 2007 See on congress.gov
Taxation AnnuitiesCost of living adjustmentsEconomics and Public FinanceFinance and Financial Sector
More subjectsShow fewer subjects
Income taxIndexing (Economic policy)Labor and EmploymentLife insuranceRetirement incomeTax exclusion
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This bill died when the 110th Congress ended
It never became law before the 110th Congress (2007–2008) 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 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 28, 2007
Read twice and referred to the Committee on Finance.
Mar 28, 2007
Introduced in Senate
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 Latest action March 28, 2007

Read twice and referred to the Committee on Finance.

 Plain-English summary Congressional Research Service

Retirement Security for Life Act of 2007 - 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 2009.

 Related & companion bills 1
  • HR 2205 Related bill Retirement Security for Life Act of 2007
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Republican 2
R
Crapo, Mike
Idaho · Apr 30, 2007
 R
Collins, Susan M.
Maine · Mar 28, 2007
Cite this page click to expand
APA
U.S. Congress. (2026). S. 1010: Retirement Security for Life Act of 2007. 110th Congress. Open America. https://openamerica.io/bill/110-S-1010/
MLA
"S. 1010: Retirement Security for Life Act of 2007." 110th Congress, 2026, Open America, https://openamerica.io/bill/110-S-1010/.
Bluebook (legal)
S. 1010, 110th Cong. (2026), https://openamerica.io/bill/110-S-1010/.
Markdown link
[S. 1010: Retirement Security for Life Act of 2007](https://openamerica.io/bill/110-S-1010/)
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