Proposal:CEO and Worker Pension Fairness Act

This proposal is archived and closed to further debate. It was introduced in the 116th Congress, which has concluded, and the bill was not enacted into law.

Bill	S 3341
Type of Legislation	Senate Bill
Congress	116
Source	View original on Congress.gov

Geographic Scope

National

Description

CEO and Worker Pension Fairness Act

This bill limits tax benefits for deferred compensation of highly compensated employees (e.g., corporate chief executive officers) and increases disclosure requirements for such compensation.

The bill includes such deferred compensation in taxable income when there is no substantial risk of forfeiture (i.e., when vested) of the rights of the person entitled to such compensation rather than at distribution.

The bill transfers revenue from this revised tax treatment of deferred compensation from the Treasury to the Pension Benefit Guaranty Corporation to increase insurance coverage of multiemployer pension plans.

The bill requires the Department of Labor to report on nonqualified deferred compensation plans of highly compensated employees known as top hat plans. The Department of the Treasury must disclose amounts deferred under such plans on W-2 forms

Bill Title

CEO and Worker Pension Fairness Act

Linked Goals

• Goal:Promote General Welfare

Steps

• 2020-02-27: Read twice and referred to the Committee on Finance.
• 2020-02-27: Introduced in Senate

Projected Outcome

A more informed proposal or public response aligned with the Promote General Welfare goal.