Small Business Pension Promotion Act of 2011

Summary

Small Business Pension Promotion Act of 2011 - Authorizes the Secretary of the Treasury to take steps to address any significant and broadly applicable decrease in the value of investments held by defined contribution plans and individual retirement accounts (IRAs), including by allowing: (1) taxpayers to use a later asset valuation date than otherwise required, and (2) additional time for making distributions from such plans and accounts. Amends the Internal Revenue Code to: (1) allow a deduction in computing the net earnings from self-employment income for pension and IRA contributions, (2) allow a determination of the adjusted funding target attainment percentage for tax-exempt retirement plans without regard to the reduction for credit balances for funding-based limits on benefits under single employer plans, (3) repeal the excise tax on nondeductible contributions to qualified employer plans, and (4) provide a  special rule for determining normal retirement age for certain existing defined benefit plans. Makes conforming amendments to the Employee Retirement Income Security Act (ERISA). Requires the Secretary to revise administrative rules governing interim amendments of qualified pension plans to provide greater flexibility and reduce plan sponsor burden.

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

Timeline

1. 5 December 2011

   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

2. 5 December 2011

   Introduced

   Introduced in House

   Source: IntroReferral

3. 5 December 2011

   Introduced

   Introduced in House

   Source: IntroReferral

4. 29 March 2012

   Referred

   Referred to the Subcommittee on Health, Employment, Labor, and Pensions.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 5 December 2011 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 5 December 2011

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 5 December 2011

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 5 December 2011

  Open at official source

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  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Kind, Ron [D-WI-3] · D · Sponsor
• Rep. Gerlach, Jim [R-PA-6] · R · Sponsor
• Rep. Neal, Richard E. [D-MA-1] · D · Sponsor
• Rep. Walz, Timothy J. [D-MN-1] · D · Cosponsor
• Rep. Moore, Gwen [D-WI-4] · D · Cosponsor
• Sen. Baldwin, Tammy [D-WI] · D · Cosponsor
• · hsed00 · Standing
• · hswm00 · Standing

Related records

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