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S.779: Public Employee Pension Transparency Act

About this Bill

This bill was introduced in the 113th Congress
This bill is primarily about taxation
You can read the bill
Sponsor Richard M. Burr, R-N.C.
Total Cosponsors 2 (All Republicans)
Introduced April 23, 2013
Latest Major Action April 23, 2013
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Bill Progress

  • Bill introduced in the Senate   
  • Bill passed in the Senate   
  • Bill passed in the House   
  • Bill signed into law

Bill Summary

Public Employee Pension Transparency Act - Amends the Internal Revenue Code to deny tax benefits relating to bonds issued by a state or political subdivision during any period in which such state or political subdivision is noncompliant with specified reporting requirements for state or local government employee pension benefit plans.

Requires plan sponsors of a state or local government employee pension benefit plan to file with the Secretary of the Treasury a report for each plan year beginning on or after January 1, 2014, setting forth: (1) a schedule of the funding status of the plan, (2) a schedule of contributions by the plan sponsor for the plan year, (3) alternative projections for each of the next 60 plan years of the cash flows associated with the current plan liability, (4) a statement of the actuarial assumptions used for the plan year, (5) a statement of the number of plan participants who are retired or separated from service and are either receiving be...

(Source: Congressional Research Service)

Bill Actions

Date Description
April 23, 2013 Read twice and referred to the Committee on Finance.