ERISA Simplification Act of 1979

Summary

ERISA Simplification Act of 1979 - Amends the Employee Retirement Income Security Act (ERISA) to direct the Secretary of the Treasury to collect certain premiums required under the Act as part of the annual report filed with the Internal Revenue Service by a plan. Requires a pension plan administrator to post at the workplace of the employees a notice containing certain information with respect to the plan (eliminating the current requirement that each plan participant and beneficiary be furnished an annual report). Gives taxpayers the option of filing any forms required by the Act with the annual income tax forms. Directs the Secretaries of the Treasury and Labor to publish booklets: (1) to assist plan sponsors in developing recordkeeping systems to simplify compliance with the Act; and (2) for taxpayers summarizing individual retirement account rules. Authorizes the Secretary of the Treasury to bring a civil action to enforce compliance by a plan or trust with the requirements of the Internal Revenue Code relating to pension plans.

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Documents

1 official file

• Introduced in Senate

  summary · EN · 7 May 1979

  Open at official source

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