In the 106th Congress, ASPPA actively encouraged comprehensive pension reform legislation in Congress. In the House, the Comprehensive Retirement Security and Pension Reform Act, H.R. 1102, was introduced by Representatives Portman (R-OH) and Cardin (D-MD). Comparable legislation in the Senate, the Pension Coverage and Portability Act, S. 741, was introduced by Senators Graham (D-FL) and Grassley (R-IA). Among other things, this legislation relaxes the Top Heavy rules, repeals the full funding limit, and repeals the 25% of compensation limitation under 415 (c).

ASPPA strongly supports legislation, H.R. 2190, introduced by Representative Johnson (R-CT) and Pomeroy (D-ND), which creates a simplified, portable defined benefit plan called the "SAFE" plan funded through either an annuity or a trust. This will provide all small business employees with a secure, fully portable, defined retirement benefit they can count on without choking small business with complex rules and regulations small business cannot afford. Check out the full text of the legislation at thomas.loc.gov.

ASPPA supports several provisions in the Retirement Savings Opportunity Act, S.649, introduced by Senators Roth (R-DE) and Baucus (D-MT). Among the beneficial provisions is an innovative provision which allows 401(k) and 403(b) plan participants to choose their tax treatment. Under the proposal, participants could choose to treat their contributions like contributions to a Roth IRA (i.e., as after-tax contributions not included in income when distributed if held for five years). The Act also includes the "SAFE" proposal and tax credits for start-up costs of small employer plans. Check out the full text of the legislation at thomas.loc.gov.