29 U.S.C. § 1231 — Congressional study

submitted 52 years ago by Pub. L. 93-406 to r/title-29-LABOR · 231 words · no verdicts yet

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Four House and Senate committees must study government-established or government-financed retirement plans. They must examine participation, vesting, financing, fiduciary standards, and the need for Federal legislation, then report by December 31, 1976.

(a) The House Education and Labor and Ways and Means Committees, and the Senate Finance and Labor and Public Welfare Committees, must study retirement plans established, maintained, or financed directly or indirectly by the United States Government, a State including the District of Columbia, a political subdivision, or an agency or instrumentality of any of them. The study must analyze: (1) whether current participation, vesting, and financing levels are adequate; (2) current fiduciary standards; and (3) whether Federal legislation and standards are needed. In deciding whether a plan is adequately financed, each committee must consider minimum funding standards and the taxing power of the government maintaining the plan. (b) By December 31, 1976, each House committee must submit its study results and appropriate recommendations to the House, and each Senate committee must submit its results and recommendations to the Senate.

the actual law source: uscode.house.gov ↗public domain

(a)

The Committee on Education and Labor and the Committee on Ways and Means of the House of Representatives and the Committee on Finance and the Committee on Labor and Public Welfare of the Senate shall study retirement plans established and maintained or financed (directly or indirectly) by the Government of the United States, by any State (including the District of Columbia) or political subdivision thereof, or by any agency or instrumentality of any of the foregoing. Such study shall include an analysis of—

(1)

the adequacy of existing levels of participation, vesting, and financing arrangements,

(2)

existing fiduciary standards, and

(3)

the necessity for Federal legislation and standards with respect to such plans.

In determining whether any such plan is adequately financed, each committee shall consider the necessity for minimum funding standards, as well as the taxing power of the government maintaining the plan.

(b)

Not later than December 31, 1976, the Committee on Education and Labor and the Committee on Ways and Means shall each submit to the House of Representatives the results of the studies conducted under this section, together with such recommendations as they deem appropriate. The Committee on Finance and the Committee on Labor and Public Welfare shall each submit to the Senate the results of the studies conducted under this section together with such recommendations as they deem appropriate not later than such date.

Source credit: (Pub. L. 93–406, title III, § 3031, Sept. 2, 1974, 88 Stat. 999.)

history & why it existsrecord from the source credit

1974Enacted · Pub. L. 93-406 · 88 Stat. 999

A history note hasn’t been published yet. The record shows enactment by Pub. L. 93-406 on 1974-09-02.

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