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United States · Bill · HR

H.R. 3503 (105th)

Retirement Account Portability Act of 1998

referredUnited States· United States Congress· EN

Introduced

19 March 1998

Last action

17 April 1998 · Referred

Status

Referred to the Subcommittee on Employer-Employee Relations.

Sponsors

Rep. Pomeroy, Earl [D-ND-At Large], Rep. Kolbe, Jim [R-AZ-5], Rep. Kennelly, Barbara B. [D-CT-1], Rep. English, Phil [R-PA-3], SANDER LEVIN, Rep. Thurman, Karen L. [D-FL-5], Rep. Payne, Donald M. [D-NJ-10], GENE GREEN, Rep. Boswell, Leonard L. [D-IA-3], Rep. Rahall, Nick J., II [D-WV-4], Rep. Frost, Martin [D-TX-24], Rep. Yates, Sidney R. [D-IL-9], Rep. Stupak, Bart [D-MI-1], Rep. Torres, Esteban Edward [D-CA-34], Rep. Evans, Lane [D-IL-17], Rosa DeLauro, Del. Underwood, Robert A. [D-GU-At Large], Rep. Woolsey, Lynn C. [D-CA-6], JOHN LEWIS, EDDIE JOHNSON, Pete Sessions, Rep. Bliley, Tom [R-VA-3], Sen. Schumer, Charles E. [D-NY], ELIOT ENGEL, Rep. Gejdenson, Sam [D-CT-2], Rep. Hilliard, Earl F. [D-AL-7], Rep. Nadler, Jerrold [D-NY-12], Rep. Goode, Virgil H., Jr. [R-VA-5], NITA LOWEY, Rep. Bentsen, Ken [D-TX-25], FRED UPTON, Rep. Johnson, Nancy L. [R-CT-6], Rep. Shays, Christopher [R-CT-4], Rep. Snyder, Vic [D-AR-2], Sen. Stabenow, Debbie [D-MI], Rep. Mollohan, Alan B. [D-WV-1], Sanford Bishop, Rep. Deutsch, Peter [D-FL-20], Rep. Mink, Patsy T. [D-HI-2], Del. Christensen, Donna M. [D-VI-At Large], LOUISE SLAUGHTER, Rep. Moran, James P. [D-VA-8], Rep. Frank, Barney [D-MA-4], Rep. Paul, Ron [R-TX-22], Rep. Martinez, Matthew G. [D-CA-30], Rep. Matsui, Robert T. [D-CA-3], Rep. Danner, Pat [D-MO-6], Rep. LaFalce, John J. [D-NY-36]

Subjects

Taxation

Source updated

23 March 2026

Taxation

Official sourceDownload fileView documentsShare

Summary

Retirement Account Portability Act of 1998 - Amends the Internal Revenue Code to permit rollovers to and from State and tax- exempt instrumentality and public school retirement plans. (Sec. 3) Permits individual retirement plan (IRA) rollovers only if the entire amount is deposited into another defined contribution retirement plan and certain other conditions are met. (Sec. 4) Permits rollover of after-tax contributions in an exempt trust if such amount is reported by the trustee and the recipient retirement plan agrees to report such amount in a subsequent distribution. (Sec. 5) Provides for faster vesting of employer matching contributions. (Sec. 6) Amends the Employee Retirement Income Security Act of 1974 (ERISA) to extend single employer missing participant provisions to multiemployer plans. Authorizes transfer of a missing participant's benefits to a corporation upon termination of certain pension plans. (Sec. 7) Amends the Code to extend the IRA and employee exempt trust 60-day rollover period in the case of combat zone service. (Sec. 9) States that a transferee defined contribution plan shall not be treated as having failed to meet certain requirements because it does not provide for some or all of the distribution forms available under a transferor defined contribution plan. (Sec. 10) Authorizes employers to disregard rollovers for purposes of employee cash-out amounts under the Code and ERISA. (Sec. 11) Authorizes trustee-to-trustee transfers to purchase permissive service credit with respect to Federal or public school and State and tax-exempt instrumentality pension plans.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 19 March 1998

    Introduced

    Referred to House Ways and Means

    Source: IntroReferral

  2. 19 March 1998

    Introduced

    Referred to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

    Source: IntroReferral

  3. 19 March 1998

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 19 March 1998

    Introduced

    Introduced in House

    Source: IntroReferral

  5. 17 April 1998

    Referred

    Referred to the Subcommittee on Employer-Employee Relations.

    Source: Committee

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in House (text)

View fileDownload file

Sponsors

Showing 48 of 58 sponsors and actors.

Related records

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Sources

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