S. 2928: A bill to clarify the status of certain employee benefit plans under the Internal Revenue Code of 1986 and the Employee Retirement Income Security Act of 1974.

108th Congress · introduced 2004-10-07 · Labor and Employment · Latest: Read twice and referred to the Committee on Finance.

federal

Follow this bill, step by step

Where it came from: introduced 2004-10-07 · official record
Who proposed it: Sen. Smith, Gordon H. [R-OR] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Read twice and referred to the Committee on Finance. 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

A bill to clarify the status of certain employee benefit plans under the Internal Revenue Code of 1986 and the Employee Retirement Income Security Act of 1974.

Plain summary

Provides that a nonprofit corporation's employee benefit plan shall be considered to be a governmental plan under the Internal Revenue Code and the Employee Retirement Income Security Act of 1974 (ERISA), if the nonprofit corporation was: (1) incorporated on September 16, 1998, under a State nonprofit corporation statute; and (2) organized for the express purpose of supporting the missions and goals of a public corporation which was created by a State statute effective on July 1, 1995, is a governmental entity under State law, and is a member of the nonprofit corporation.

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

A bill to clarify the status of certain employee benefit plans under the Internal Revenue Code of 1986 and the Employee Retirement Income Security Act of 1974.

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. Smith, Gordon H. [R-OR] · 1 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Ron Wyden (D-OR)

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)

Bill: A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
Securities: Financial investments that can be bought and sold, such as stocks and bonds.
Statute: A written law passed by a legislature. A statute can be changed by a later law; changing a constitution needs an amendment.

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-108s2928.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/108/s>

Record fed-us-cong108-s2928 · catalog fed-us-congress-bills-cong108 · updated 2026-11-15 by psicol fed-bills-cong108