S. 1783: The Pension Security and Transparency Act of 2005

Publication Date: October 2005

Publisher: Library of Congress. Congressional Research Service

Author(s):

Research Area: Labor

Type:

Abstract:

On September 28, the Senate Finance Committee and the Senate Committee on Health, Education, Labor, and Pensions announced that they had reached a compromise on a pension reform bill for consideration by the full Senate. The compromise bill has been introduced as S. 1783, "The Pension Security and Transparency Act of 2005." A floor vote on the bill is expected to occur during the week of October 3. S. 1783 combines provisions of S. 219, "The National Employee Savings and Trust Equity Guarantee Act," reported by the Finance Committee, and "The Defined Benefit Security Act," reported by the Committee on Health, Education, Labor, and Pensions. This report summarizes the major provisions of the compromise bill, as announced by the chairmen and ranking members of the two committees. It will be updated as necessary.