S. 2424: National Employee Savings and Trust Equity Guarantee Act of 2004

108th Congress · introduced 2004-05-14 · Labor and Employment · Latest: Placed on Senate Legislative Calendar under General Orders. Calendar No. 516.

federal

Follow this bill, step by step

Where it came from: introduced 2004-05-14 · official record
Who proposed it: Sen. Grassley, Chuck [R-IA] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Placed on Senate Legislative Calendar under General Orders. Calendar No. 516. 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

National Employee Savings and Trust Equity Guarantee Act of 2004

Plain summary

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.

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

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

National Employee Savings and Trust Equity Guarantee Act of 2004

Source: Congressional Research Service summary (Introduced in Senate)

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The strongest published arguments

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Alternatives

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

Officials and money

Sponsor: Sen. Grassley, Chuck [R-IA] · 0 cosponsors

Cost estimate: CBO cost estimate: S. 2424, National Employee Savings and Trust Equity Gurantee Act of 2004 (2004-07-09); CBO cost estimate: S. 2424, National Employee Savings and Trust Equity Gurantee Act of 2004 (2004-07-09)

Sponsor's campaign money: Sen. Grassley, Chuck [R-IA] reported raising $527,998 (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

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 (2)

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 Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-108s2424.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/108/s>

Record fed-us-cong108-s2424 · catalog fed-us-congress-bills-cong108 · updated 2026-11-15 by psicol fed-bills-cong108