October 3, 1989
TO: PENSION COMMITTEE NO. 8-89
RE: H.R. 3306, THE PENSION REFORM ACT OF 1989
__________________________________________________________
Attached for your information are copies of H.R. 3306, The
Pension Reform Act of 1989, introduced by Representative
Kennelly, and the floor statement accompanying its introduction.
The proposed legislation would repeal section 408(k)(3) of
the Code, which allows integration of simplified employee
pensions (SEPs), impose the integration rules of the 1986 Tax
Reform Act upon benefits accrued before January 1, 1989, and
repeal integration completely effective January 1, 2000. The
bill would also amend the minimum coverage requirements of
section 410(b), eliminate the special vesting rule for
multiemployer plans, and allow spouses divorced prior to the
passage of the Retirement Equity Act to obtain new orders that
could be treated as qualified domestic relations orders. In
addition, the bill would direct the General Accounting Office to
study alternative methods of requiring retirement plans to
provide cost-of-living adjustments and pension portability.
We will keep you informed of further developments.
Kathy D. Ireland
Assistant General Counsel
Attachment