Retirement Equity Act of 1983

Summary

Retirement Equity Act of 1983 - Amends the Internal Revenue Code and the Employee Retirement Income Security Act of 1974 to lower the age limitation for participation in a qualified retirement plan from 25 to 21. Allows a limited amount of maternity or paternity leave to be taken by an individual without being treated as a break in service for purposes of computing creditable service towards retirement benefits. Requires spousal consent in order for a retirement plan participant to elect not to take a joint and survivor annuity. Requires that such consent must be in writing and must be witnessed by either a plan representative or a notary public. Allows the assignment of the benefits of a qualified retirement plan in the case of a judgment, decree or order relating to child support, alimony payments, or marital property rights pursuant to a State's domestic relations law. Requires the continuation of benefits to a surviving former spouse in cases where payments of joint and survivor benefits began prior to a divorce. Sets forth requirements relating to the method of distribution of divorce distributions. Sets forth rules for the tax treatment of divorce distributions. Increases the allowable mandatory distributions from a retirement plan from $1,750 to $3,500. Requires that a plan participant must be notified that benefits may be forfeitable if the participant dies before a certain date.

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Timeline

1. 26 January 1983

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 26 January 1983

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 27 January 1983

   Introduced

   Referred jointly to the Committees on Finance; Labor and Human Resources.

   Source: IntroReferral

4. 2 February 1983

   Committee

   Committee on Finance requested executive comment from OMB, Treasury Department, Labor Department.

   Source: Committee

5. 7 February 1983

   Committee

   Committee on Finance requested executive comment from OMB, Treasury Department, Labor Department.

   Source: Committee

6. 22 February 1983

   Referred

   Referred to Subcommittee on Labor.

   Source: Committee

7. 20 June 1983

   Committee

   Committee on Finance. Hearings held.

   Source: Committee

8. 21 June 1983

   Committee

   Committee on Finance. Hearings held.

   Source: Committee

9. 2 August 1983

   Committee

   Committee on Finance. Hearings concluded. Hearings printed: S.Hrg. 98-313 Pts. 1, 2, and 3.

   Source: Committee

10. 4 October 1983

    Committee

    Subcommittee on Labor. Hearings held. Hearings printed: S.Hrg. 98-417.

    Source: Committee

Votes

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Versions

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Documents

1 official file

• Introduced in Senate

  summary · EN · 26 January 1983

  Open at official source

Sponsors

• Sen. Dole, Robert J. [R-KS] · R · Sponsor
• Sen. Long, Russell B. [D-LA] · D · Sponsor
• Sen. Heinz, John [R-PA] · R · Sponsor
• Sen. Danforth, John C. [R-MO] · R · Sponsor
• Sen. Wallop, Malcolm [R-WY] · R · Sponsor
• Sen. D'Amato, Alfonse [R-NY] · R · Cosponsor
• Sen. Garn, E. J. (Jake) [R-UT] · R · Cosponsor
• Sen. Cochran, Thad [R-MS] · R · Cosponsor
• Sen. Percy, Charles H. [R-IL] · R · Cosponsor
• Sen. Lugar, Richard G. [R-IN] · R · Cosponsor
• Sen. Domenici, Pete V. [R-NM] · R · Cosponsor
• Sen. Hawkins, Paula [R-FL] · R · Cosponsor
• Sen. Specter, Arlen [R-PA] · R · Cosponsor
• Sen. Kasten, Robert W., Jr. [R-WI] · R · Cosponsor
• · sshr00 · Standing
• · ssfi00 · Standing

Related records

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