Flexible Retirement Security for Life Act of 2005

Referred to the House Committee on Ways and Means.

Congressional Research Service

Official summary

Version 00 · Introduced in House · Sep 27, 2005

Flexible Retirement Security for Life Act of 2005 - Amends the Internal Revenue Code to exclude from gross income up to 50 percent of certain guaranteed lifetime annuity payments. Phases in the allowable dollar amount of such exclusion, beginning at $1,000 in 2006 and increasing to $20,000 in 2015 or thereafter. Provides for an inflation adjustment of the $20,000 exclusion amount beginning in 2016.

Allows a tax exclusion for payments from an annuity or life insurance contract used to obtain coverage under a qualified long-term care insurance contract that is part of such annuity or life insurance contract.

Provides for tax-free exchanges of life insurance, endowment, and annuity contracts for long-term care contracts. Allows tax-exempt annuity and life insurance contracts to include qualified long-term care insurance contracts.

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People & committees

Who introduced it

Rep. Johnson, Nancy L. [R-CT-5] · R–CT

Committees

Ways and Means Committee

2 cosponsorship records, including any withdrawals

Legislative record

Actions

A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.

Sep 27, 2005
Referred to the House Committee on Ways and Means.
Sep 27, 2005
Introduced in House
Sep 27, 2005
Introduced in House

Primary sources

Bill text & related measures

Text links open the official source. We currently store references to these documents.

Introduced in House · Sep 27, 2005 Formatted Text PDF

Related bills identified by Congress.gov

Source last updated: Aug 15, 2025. Consult Congress.gov for the current record.

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Objective

Analyze H.R.3912 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

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Discuss H.R.3912, 109th Congress: Flexible Retirement Security for Life Act of 2005

Official record: https://www.congress.gov/bill/109th-congress/house-bill/3912

Text version to examine: Introduced in House · 2005-09-27.

Official full text: https://www.congress.gov/109/bills/hr3912/BILLS-109hr3912ih.htm

Imported record last updated by the source: 2025-08-15T18:01:03Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Analyze H.R.3912 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

Fairness and public impact

Progressive lens

Examine H.R.3912 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

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Discuss H.R.3912, 109th Congress: Flexible Retirement Security for Life Act of 2005

Official record: https://www.congress.gov/bill/109th-congress/house-bill/3912

Text version to examine: Introduced in House · 2005-09-27.

Official full text: https://www.congress.gov/109/bills/hr3912/BILLS-109hr3912ih.htm

Imported record last updated by the source: 2025-08-15T18:01:03Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.3912 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

Institutions and government scope

Conservative lens

Examine H.R.3912 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

View full prompt & sources

Discuss H.R.3912, 109th Congress: Flexible Retirement Security for Life Act of 2005

Official record: https://www.congress.gov/bill/109th-congress/house-bill/3912

Text version to examine: Introduced in House · 2005-09-27.

Official full text: https://www.congress.gov/109/bills/hr3912/BILLS-109hr3912ih.htm

Imported record last updated by the source: 2025-08-15T18:01:03Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.3912 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

Individual rights and government power

Liberty lens

Examine H.R.3912 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.

View full prompt & sources

Discuss H.R.3912, 109th Congress: Flexible Retirement Security for Life Act of 2005

Official record: https://www.congress.gov/bill/109th-congress/house-bill/3912

Text version to examine: Introduced in House · 2005-09-27.

Official full text: https://www.congress.gov/109/bills/hr3912/BILLS-109hr3912ih.htm

Imported record last updated by the source: 2025-08-15T18:01:03Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.3912 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.