HR 6290 (Nunes) – Public Employee Pension Transparency Act
Requires a state or local government applicable retirement plan sponsor to report specified plan information to the U.S. Treasury Secretary each plan year beginning on or after January 1, 2019, including the value of plan liabilities using the U.S. Treasury spot rate yield curve—often described as a “risk free” rate of return. Failure to comply with the reporting requirements results in the forfeiture of federal tax benefits to bonds issued by the relevant state or political subdivision until noncompliance is remedied.
- Version: Amended 6/28/2018
- Sponsor: Author
- Location: House Ways and Means Committee
- Board Position: Oppose