United States · Bill · S
S. 1783 (109th)
Pension Security and Transparency Act of 2005
Introduced
28 September 2005
Last action
3 March 2006 · Floor
Status
See also H.R.2830.
Sponsors
Sen. Grassley, Chuck [R-IA], Sen. Enzi, Michael B. [R-WY], Sen. Kennedy, Edward M. [D-MA], Sen. Baucus, Max [D-MT]
Subjects
Taxation
Source updated
9 March 2026
Summary
Pension Security and Transparency Act of 2005 - Amends the Employee Retirement Income Security Act (ERISA) and the Internal Revenue Code (IRC) to establish new minimum funding standards for single-employer and multiemployer defined benefit pension plans. Limits benefits under underfunded plans. Establishes additional funding rules for multiemployer plans in endangered or critical status. Requires measures to forestall insolvency. Revises deduction limits for such plans. Revises deduction rules for combinations of defined contribution plans and defined benefit plans. Sets forth interest rate assumptions for determining lump sum distributions and for applying benefit limitations to such distributions. Increases certain premiums to be paid to the Pension Benefit Guaranty Corporation (PBGC). Provides for phasing-in increases of: (1) the annual flat-rate premium paid by all single-employer plans; and (2) the additional risk-based premium, which is to be paid by all underfunded plans. Limits PBGC guarantee of shutdown benefits and other unpredictable contingent event benefits under single employer plans. Revises requirements for defined benefit plan funding notices. Requires additional disclosures in annual reports and to plan participants and beneficiaries. Provides that defined benefit pension plans, including hybrid plans such as cash balance plans, may be deemed nondiscriminatory as to age if they comply with certain requirements, in cases of reduction in accrued benefits because of attainment of any age. Requires defined contribution plans to allow employees to divest employer stock and diversify their pension asset investments. Provides that defined benefit pension plans, including hybrid plans such as cash balance plans, may be deemed nondiscriminatory as to age if they comply with certain requirements, in cases of reduction in accrued benefits because of attainment of any age. Sets forth participant protections, including diversification rights, under defined contribution plans. Revises requirements relating to: (1) portability and distribution rules; (2) information, including investment advice and retirement planning, to assist pension plan participants; (3) spousal pension protection under ERISA and the Railroad Retirement Act of 1974; (4) employee plans compliance resolution systems; (5) governmental and tribal pension plans; (6) black lung disability trust funds; (7) treatment of death benefits from corporate-owned life insurance; and (8) compensation and pensions of Tax Court judges.
This text is taken from the official record. PoliticalRepo does not editorialize.
Timeline
28 September 2005
Introduced
Introduced in the Senate. Read twice. Ordered Placed on Senate Legislative Calendar under General Orders. Calendar No. 231.
Source: Calendars
28 September 2005
Introduced
Introduced in Senate
Source: IntroReferral
16 November 2005
Floor
Measure laid before Senate by unanimous consent. (consideration: CR S12884-12921)
Source: Floor
16 November 2005
Vote
Passed/agreed to in Senate: Passed Senate with an amendment by Yea-Nay Vote. 97 - 2. Record Vote Number: 328.
Source: Floor
22 December 2005
Passed
Senate ordered measure printed as passed.
Source: Floor
23 December 2005
Floor
Message on Senate action sent to the House.
Source: Floor
3 March 2006
Floor
See also H.R.2830.
Source: Floor
Votes
16 November 2005 · Bill Passed · On Passage of the Bill S. 1783 · Bill Passed · Official source
Yes 97 · No 2 · Abstain — · Absent/not voting 1
- Sen. Allard, Wayne [R-CO]Yea
- Sen. Specter, Arlen [R-PA]Yea
- Sen. Obama, Barack [D-IL]Yea
- Sen. Boxer, Barbara [D-CA]Yea
Showing the first 4 recorded positions. Vote totals above are complete.
Versions
- Public Print · 22 December 2005 · Download file
- Engrossed in Senate · 16 November 2005 · Download file
- Placed on Calendar Senate · 28 September 2005 · Download file
Documents
8 official files
Public Print (text)
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Public Print (text)
Public Print · EN · 22 December 2005
Public Print (PDF)
Public Print · EN · 22 December 2005
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Engrossed in Senate (text)
Engrossed in Senate · EN · 16 November 2005
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Engrossed in Senate (PDF)
Engrossed in Senate · EN · 16 November 2005
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Passed Senate amended
summary · EN · 16 November 2005
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Placed on Calendar Senate (text)
Placed on Calendar Senate · EN · 28 September 2005
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Placed on Calendar Senate (PDF)
Placed on Calendar Senate · EN · 28 September 2005
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Introduced in Senate
summary · EN · 28 September 2005
Leesvertaling
Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.
Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.
Sponsors
- Sen. Grassley, Chuck [R-IA] · R · Sponsor
- Sen. Enzi, Michael B. [R-WY] · R · Sponsor
- Sen. Kennedy, Edward M. [D-MA] · D · Sponsor
- Sen. Baucus, Max [D-MT] · D · Sponsor
Related records
- related to → Pension Security and Transparency Act of 2005
- related to ← National Employee Savings and Trust Equity Guarantee Act of 2005
- amends ← SAMDT 1967
- amends ← To modify pension funding rules related to airlines, and for other purposes.
- amends ← To compute the actuarial value of monthly benefits in the form of a life annuity commencing at age 60 for certain airline pilots.
- amends ← In the nature of a substitute.
Sources
PoliticalRepo is an index and interpretation layer, not the authoritative legal source.
- Official source: https://www.congress.gov/bill/109th-congress/senate-bill/1783
- Open data entity: https://api.congress.gov/v3/bill/109/s/1783
- us · 109-s-1783 · source updated 9 March 2026