DIFFERENT STROKES? – Senate Version of Retirement Bill Differs From House

September 5, 2000 ( - There are some noticeable differences between the House and Senate versions of the pending retirement savings legislation that impact plan sponsors, including a new type 401(k) plan, expanded catch-up savings provisions for older workers and a ban on wearaway provisions in cash balance plan conversions.

"Missing" Participants Reunite with $10 Million

October 4, 2000 ( - Nearly five thousand pensioners have been reconnected with their "missing" pensions totaling some $10 million during the past year, thanks to the Pension Benefit Guaranty Corporation's (PBGC) Pension Search Directory.

Retirement Assets Might Escape Creditor Clutches

May 3, 2000 ( - Retirement plan balances may escape creditor clutches, after all. A controversial pension plan waiver provision will be removed from the pending bankruptcy reform bill, according to aides of Senators Charles Grassley (R-Iowa) and Jeff Sessions (R-Ala.). The provision would have allowed individuals to waive the current exemption that protects retirement plan assets from creditors, either while in bankruptcy, or as part of a loan agreement.

GAO To Recommend Cash Balance Hiatus

October 2, 2000 ( - The General Accounting Office (GAO) is expected to issue a report urging the Internal Revenue Service to stop approving cash balance plans until their impact on retirement benefits can be determined.

PBGC Simplifies Premium Regs

December 1, 2000 ( - The Pension Benefit Guaranty Corporation (PBGC) has announced changes to its premium regulations to make things easier for sponsors of defined benefit pension plans.

Pension Reform Vote Postponed – Again

November 1, 2000 ( - The Senate has once again put off a floor vote on HR 2614, the tax bill that contains pension reform legislation and several health care provisions.

Pension Reform On Hold

November 1, 2000 ( - It looks like Congress is going to wait until after the election to deal with pension reform, following the Senate's passage of a short-term spending bill.