August 2, 1991
TO: FEDERAL LEGISLATION MEMBERS NO. 12-91
FEDERAL LEGISLATION COMMITTEE NO. 13-91
RE: INSTITUTE TESTIFIES ON PENSION SIMPLIFICATION
__________________________________________________________
On July 25, the Institute testified before the House Ways
and Means Select Revenue Subcommittee on three legislative
proposals -- H.R. 2730, the "Pension Access and Simplification
Act of 1991," H.R. 2641, the "Employee Benefits Simplification
Act of 1991," and H.R. 2742, the "Employee Benefits
Simplification Act" -- to simplify retirement plan rules.
The Institute endorsed provisions in the bills that would
expand the availability of simplified employee pensions (SEPs)
and simplify both the 401(k) and the salary reduction SEP
nondiscrimination rules.
Additionally, the Institute expressed its strong support
for provisions in all three bills that would eliminate rollover
restrictions on pre-retirement distributions from a retirement
plan to an IRA or another plan.
A copy of the Institute's testimony is attached. Please
call if you wish further information. We will keep you informed
of further developments.
This memo can also be found on FUNDS, the Institute's Fund
User Network and Delivery System, under Legislative Affairs,
Washington Update.
Julie Domenick
Vice President
Legislative Affairs