To amend the Internal Revenue Code of 1986 to facilitate portability, enhance pension coverage, and provide employers an optional simplified method of complying with certain pension requirements.

Referred to the House Committee on Ways and Means.

Congressional Research Service

Official summary

Version 00 · Introduced in House · May 26, 1994

Amends the Internal Revenue Code to modify certain pension requirements to provide a simplified method for compliance. Entitles employers to the benefits of this Act if the employer maintains a qualified simplified defined contribution plan and a qualified simplified defined benefit plan. Directs the Secretary of Labor and the Secretary of the Treasury to conduct a joint study of the feasibility of establishing a pension portability clearinghouse to accept rollovers from tax-qualified pension plans as well as to receive tax deductible contributions from employers not maintaining qualified pension plans.

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People & committees

Who introduced it

Rep. Wheat, Alan [D-MO-5] · D–MO

Committees

Ways and Means Committee

0 cosponsorship records, including any withdrawals

Legislative record

Actions

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May 26, 1994
Referred to the House Committee on Ways and Means.
May 26, 1994
Introduced in House
May 26, 1994
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 · May 26, 1994 Formatted Text PDF

Related bills identified by Congress.gov

No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.

Source last updated: Feb 7, 2024. Consult Congress.gov for the current record.

AI Conversation Starters

Explore the bill from different angles

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Neutral evidence review

Objective

Analyze H.R.4534 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.

View full prompt & sources

Discuss H.R.4534, 103rd Congress: To amend the Internal Revenue Code of 1986 to facilitate portability, enhance pension coverage, and provide employers an optional simplified method of complying with certain pension requirements.

Official record: https://www.congress.gov/bill/103rd-congress/house-bill/4534

Text version to examine: Introduced in House · 1994-05-26.

Official full text: https://www.congress.gov/103/bills/hr4534/BILLS-103hr4534ih.htm

Imported record last updated by the source: 2024-02-07T16:40:02Z. 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.4534 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.4534 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.

View full prompt & sources

Discuss H.R.4534, 103rd Congress: To amend the Internal Revenue Code of 1986 to facilitate portability, enhance pension coverage, and provide employers an optional simplified method of complying with certain pension requirements.

Official record: https://www.congress.gov/bill/103rd-congress/house-bill/4534

Text version to examine: Introduced in House · 1994-05-26.

Official full text: https://www.congress.gov/103/bills/hr4534/BILLS-103hr4534ih.htm

Imported record last updated by the source: 2024-02-07T16:40:02Z. 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.4534 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.4534 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.4534, 103rd Congress: To amend the Internal Revenue Code of 1986 to facilitate portability, enhance pension coverage, and provide employers an optional simplified method of complying with certain pension requirements.

Official record: https://www.congress.gov/bill/103rd-congress/house-bill/4534

Text version to examine: Introduced in House · 1994-05-26.

Official full text: https://www.congress.gov/103/bills/hr4534/BILLS-103hr4534ih.htm

Imported record last updated by the source: 2024-02-07T16:40:02Z. 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.4534 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.4534 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.4534, 103rd Congress: To amend the Internal Revenue Code of 1986 to facilitate portability, enhance pension coverage, and provide employers an optional simplified method of complying with certain pension requirements.

Official record: https://www.congress.gov/bill/103rd-congress/house-bill/4534

Text version to examine: Introduced in House · 1994-05-26.

Official full text: https://www.congress.gov/103/bills/hr4534/BILLS-103hr4534ih.htm

Imported record last updated by the source: 2024-02-07T16:40:02Z. 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.4534 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.