H.R. 5398: Retirement Enhancement Revenue Act of 2004

108th Congress · introduced 2004-11-19 · Labor and Employment · Latest: Referred to the House Committee on Ways and Means.

federal

Follow this bill, step by step

Where it came from: introduced 2004-11-19 · official record
Who proposed it: Rep. Andrews, Robert E. [D-NJ-1] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Referred to the House Committee on Ways and Means. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Retirement Enhancement Revenue Act of 2004

Plain summary

Retirement Enhancement Revenue Act of 2004 - Amends the Internal Revenue Code to revise rules relating to tax-exempt retirement and employee benefit plans. Imposes new qualification, reporting, and disclosure requirements for public employee pension plans. Revises pension rules to provide for: (1) automatic enrollment of all eligible employees in 401(k) plans; (2) diversification of defined contribution plans that hold employer securities; (3) an increase to age 75 for beginning mandatory distributions from retirement plans; (4) restrictions on the exclusion of unionized employees from 401(k) plan participation; and (5) removal of the $5,000 limit on certain mandatory retirement plan distributions. Makes the tax credit for retirement savings contributions refundable and permanent. Allows certain small employers a business tax credit for contributions to employee pension plans. Modifies requirements for joint and survivor annuities and for railroad retirement benefits for divorced and former spouses. Revises rules for defined benefit plans to permit such plans to include 401(k) plans. Modifies certain defined benefit plan eligibility rules. Allows: (1) an exemption from prohibited transaction restrictions for certain transactions between an employee benefit plan and a plan participant (i.e., aborted emergent transactions); (2) loans from retirement plans for health insurance and job training expenses; (3) income averaging of corrected civil service annuity benefit payments; and (4) an exemption from prohibited transaction penalties for certain employer-provided investment advice.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

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A “Nay” vote

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What does this mean? (plain words)

Official text

Retirement Enhancement Revenue Act of 2004

Source: Congressional Research Service summary (Introduced in House)

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Andrews, Robert E. [D-NJ-1] · 0 cosponsors

Cost estimate: No cost estimate published yet.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (3)

Exemption: A rule that removes certain people, property or activities from a tax or requirement.
Rulemaking: The process agencies use to write regulations that carry out laws passed by Congress or a legislature. Usually an agency publishes a proposed rule, takes public comments, then publishes a final rule.
Securities: Financial investments that can be bought and sold, such as stocks and bonds.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in House)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-108hr5398.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/108/hr>

Record fed-us-cong108-hr5398 · catalog fed-us-congress-bills-cong108 · updated 2026-11-15 by psicol fed-bills-cong108