November 22, 1995
TO: OPERATIONS COMMITTEE No. 35-95
PENSION COMMITTEE No. 24-95
AD HOC COMMITTEE ON IRA TECHNICAL/OPERATIONS ISSUES
RE: MEETING ON AMERICAN DREAM IRA TECHNICAL/OPERATIONS ISSUES
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The Institute has scheduled a meeting to discuss technical and operational issues arising
from the provisions of the pending budget legislation that create the new "American Dream
IRA."
As previously reported, the American Dream IRA was included in the budget
legislation that will be sent to President Clinton. Although the President is expected to veto
this legislation, subsequent negotiations between Congress and the Administration may result
in the enactment of a bill that includes provisions similar to or identical to those establishing
the new back-loaded American Dream IRA. The meeting will focus on identifying new issues
raised by the legislation in addition to those previously identified. (See attached Institute
memorandum dated April 13, 1995, summarizing previous discussions on these issues.) We
also would like to identify issues that might be addressed in IRS regulations implementing the
bill.
Attached is the current legislative language and the Committee Report explanation.
The meeting is scheduled for Tuesday, December 5, 1995 at 10:00 a.m. in the Institute’s
offices located at 1401 H Street, N.W. Lunch will be served. Please RSVP to Theresa Brice via
fax (202-326-5839) if you plan to attend.
Russell G. Galer
Assistant Counsel - Pension
Attachments