HR 4822 (Nunes) – Public Employee Pension Transparency Act
Requires the state or local government employee pension plan sponsor to report to the U.S. Treasury Secretary each plan year beginning on or after January 1, 2017, specified information using the U.S. Treasury Obligation Yield Curve—so as to derive and apply a “risk free” rate of return—to calculate the information, where applicable. 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 3/21/2016
- Sponsor: Author
- Location: House Ways and Means Committee
- Board Position: Oppose