National Employee Savings and Trust Equity Guarantee Act of 2005

Read twice and referred to the Committee on Finance.

Congressional Research Service

Official summary

Version 00 · Introduced in Senate · Jan 31, 2005

National Employee Savings and Trust Equity Guarantee Act of 2005- Amends the Internal Revenue Code and the Employee Retirement Income Security Act of 1974 (ERISA) to require defined contribution plans to allow employees to divest employer stock and diversify their pension asset investments.

Revises requirements relating to: (1) information to assist pension plan participants; (2) protection of plan participants; (3) pension plan funding and deductions; (4) the Pension Benefit Guaranty Corporation (PBGC); (5) replacement of the interest rate of 30-year treasury securities for purposes of funding, PBGC premium rates, and calculating lump-sum distributions; (6) portability and distribution rules; (7) the Employee Plans Compliance Resolution System; (8) spousal pension protection, including spousal consent for distributions from defined contribution plans and division of pension benefits upon divorce; (9) railroad retirement; (10) joint and survivor annuity benefits; and (11) compensation and pensions of Tax Court judges.

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People & committees

Who introduced it

Sen. Grassley, Chuck [R-IA] · R–IA

Committees

Finance Committee

1 cosponsorship records, including any withdrawals

Sen. Baucus, Max [D-MT]

Legislative record

Actions

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

Jan 31, 2005
Read twice and referred to the Committee on Finance.
Jan 31, 2005
Sponsor introductory remarks on measure. (CR S671-672)
Jan 31, 2005
Introduced in Senate

Primary sources

Bill text & related measures

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

Introduced in Senate · Jan 31, 2005 Formatted Text PDF Formatted XML

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

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Objective

Analyze S.219 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 S.219, 109th Congress: National Employee Savings and Trust Equity Guarantee Act of 2005

Official record: https://www.congress.gov/bill/109th-congress/senate-bill/219

Text version to examine: Introduced in Senate · 2005-01-31.

Official full text: https://www.congress.gov/109/bills/s219/BILLS-109s219is.htm

Imported record last updated by the source: 2025-08-15T18:01:09Z. 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 S.219 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 S.219 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 S.219, 109th Congress: National Employee Savings and Trust Equity Guarantee Act of 2005

Official record: https://www.congress.gov/bill/109th-congress/senate-bill/219

Text version to examine: Introduced in Senate · 2005-01-31.

Official full text: https://www.congress.gov/109/bills/s219/BILLS-109s219is.htm

Imported record last updated by the source: 2025-08-15T18:01:09Z. 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 S.219 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 S.219 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.

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Discuss S.219, 109th Congress: National Employee Savings and Trust Equity Guarantee Act of 2005

Official record: https://www.congress.gov/bill/109th-congress/senate-bill/219

Text version to examine: Introduced in Senate · 2005-01-31.

Official full text: https://www.congress.gov/109/bills/s219/BILLS-109s219is.htm

Imported record last updated by the source: 2025-08-15T18:01:09Z. 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 S.219 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 S.219 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.

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Discuss S.219, 109th Congress: National Employee Savings and Trust Equity Guarantee Act of 2005

Official record: https://www.congress.gov/bill/109th-congress/senate-bill/219

Text version to examine: Introduced in Senate · 2005-01-31.

Official full text: https://www.congress.gov/109/bills/s219/BILLS-109s219is.htm

Imported record last updated by the source: 2025-08-15T18:01:09Z. 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 S.219 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.