Sen. Max Baucus, D-Mont., has introduced his own version of the pension reform bills now in a House-Senate conference committee.
The Baucus version, S. 2431, the Savings Competitiveness Act, would include many of the provisions from the bills before the conference committee, but it also would create a $50,000 exemption from minimum distribution requirements for retirees with modest savings.
Other S. 2431 provisions would:
- Offer small employers a tax credit for employer contributions to new retirement plans.
- Create a 50% matching contribution for low-income retirement plan members.