Links for The Worker, Retiree, and Employer Recovery Act of 2008 which passed the Senate on December 11, 2008:
The bill may now proceed to a conference committee of senators and representatives to work out differences in the versions of the bill each chamber approved. The bill then goes to the President before becoming law.
News coverage:
Wall Street Journal
Associated Press
Bloomberg
Analysis:
CCH Tax Briefing. Excerpt:
Major Provisions of H.R. 7327 in a Nutshell:
Relief for retirees from RMDs from qualified plans and IRAs
Relief for employers from asset depreciation by clarifying permitted use of smoothing over 24 months for pension plan funding
Relief from funding transition rules by eliminating 100-percent funding for failures
Relief for multi-employer plans, by allowing sponsors to elect to temporarily freeze at funding status held in previous plan year
Relief from mandatory accrual of pension benefits
Increases in failure-to-file penalty fees for partnerships and S corps