National Employee Savings and Trust Equity Guarantee Act of 2004

Placed on Senate Legislative Calendar under General Orders. Calendar No. 516.

Congressional Research Service

Official summary

Version 00 · Introduced in Senate · May 14, 2004

National Employee Savings and Trust Equity Guarantee Act of 2004 - Amends the Internal Revenue Code and the Employee Retirement Income Security Act of 1974 (ERISA) to require a defined contribution plan holding publicly traded securities to provide employees with: (1) the opportunity to divest employer securities; and (2) at least three investment options other than employer securities.

Revises requirements relating to: (1) information to assist pension plan participants; (2) protection of plan participants; (3) pension plan funding; (4) the interest rate of 30-year treasury securities; (5) portability and distribution rules; (6) executives and stock options; (7) women's pension protection, including spousal consent for distributions from defined contribution plans and division of pension benefits upon divorce; (8) railroad retirement; (9) joint and survivor annuity benefits; and (10) 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

0 cosponsorship records, including any withdrawals

Legislative record

Actions

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May 14, 2004
Placed on Senate Legislative Calendar under General Orders. Calendar No. 516.
May 14, 2004
Committee on Finance. Original measure reported to Senate by Senator Grassley. With written report No. 108-266. Additional views filed.
May 14, 2004
Committee on Finance. Original measure reported to Senate by Senator Grassley. With written report No. 108-266. Additional views filed.
May 14, 2004
Introduced in Senate

Primary sources

Bill text & related measures

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

Placed on Calendar Senate · May 14, 2004 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: Apr 7, 2025. Consult Congress.gov for the current record.

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Objective

Analyze S.2424 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.2424, 108th Congress: National Employee Savings and Trust Equity Guarantee Act of 2004

Official record: https://www.congress.gov/bill/108th-congress/senate-bill/2424

Text version to examine: Placed on Calendar Senate · 2004-05-14.

Official full text: https://www.congress.gov/108/bills/s2424/BILLS-108s2424pcs.htm

Imported record last updated by the source: 2025-04-07T13:29:04Z. 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.2424 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.2424 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.2424, 108th Congress: National Employee Savings and Trust Equity Guarantee Act of 2004

Official record: https://www.congress.gov/bill/108th-congress/senate-bill/2424

Text version to examine: Placed on Calendar Senate · 2004-05-14.

Official full text: https://www.congress.gov/108/bills/s2424/BILLS-108s2424pcs.htm

Imported record last updated by the source: 2025-04-07T13:29:04Z. 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.2424 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.2424 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.2424, 108th Congress: National Employee Savings and Trust Equity Guarantee Act of 2004

Official record: https://www.congress.gov/bill/108th-congress/senate-bill/2424

Text version to examine: Placed on Calendar Senate · 2004-05-14.

Official full text: https://www.congress.gov/108/bills/s2424/BILLS-108s2424pcs.htm

Imported record last updated by the source: 2025-04-07T13:29:04Z. 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.2424 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.2424 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.2424, 108th Congress: National Employee Savings and Trust Equity Guarantee Act of 2004

Official record: https://www.congress.gov/bill/108th-congress/senate-bill/2424

Text version to examine: Placed on Calendar Senate · 2004-05-14.

Official full text: https://www.congress.gov/108/bills/s2424/BILLS-108s2424pcs.htm

Imported record last updated by the source: 2025-04-07T13:29:04Z. 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.2424 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.