National Employee Savings and Trust Equity Guarantee Act

Summary

National Employee Savings and Trust Equity Guarantee Act - Amends the Internal Revenue Code and the Employee Retirement Income Security Act of 1974 to: (1) require employers to offer employees certain pension plan investment options, including the offering of at least three investment programs; (2) define applicable contribution plans; (3) impose a tax for failure of applicable contribution or individual account plan administrators to give written notification to participants or beneficiaries of any transaction suspension period; (4) treat certain sales of company stock by corporate insiders as excess parachute payments; and (5) impose a tax for failure of applicable contribution account administrators to provide quarterly pension benefit statements. Directs the Secretary of Labor to develop at least one model benefit statement to be used by plan administrators and readily understood by the average plan participant.

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Documents

6 official files

• Reported to Senate (text)

  Reported to Senate · EN · 2 August 2002

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• Reported to Senate (PDF)

  Reported to Senate · EN · 2 August 2002

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• Reported to Senate with amendment(s)

  summary · EN · 2 August 2002

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• Introduced in Senate (text)

  Introduced in Senate · EN · 27 February 2002

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 27 February 2002

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• Introduced in Senate

  summary · EN · 27 February 2002

  Open at official source

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