S. 2505 — A bill to allow employees of a commercial passenger airline carrier who receive payments in a bankruptcy proceeding to roll over such payments into an individual retirement plan, and for other purposes.

Summary

Allows employees of commercial passenger airlines who receive payments from a bankruptcy case filed between September 11, 2001, and January 1, 2007, as compensation for lost pension plan benefits to rollover such payments into an individual retirement account (IRA), except for a Roth IRA, without tax or tax penalty.

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Related Legislation

H.R. 4061To allow employees of a commercial passenger airline carrier who receive payments in a bankruptcy proceeding to roll over such payments into an individual retirement plan, and for other purposes.
2007-11-07Sponsor introductory remarks on measure. (CR E2341)
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Legislative Actions

2007-12-18
Introduced in Senate
2007-12-18
Sponsor introductory remarks on measure. (CR S15919)
2007-12-18
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S15919-15920)

A bill to allow employees of a commercial passenger airline carrier who receive payments in a bankruptcy proceeding to roll over such payments into an individual retirement plan, and for other purposes.

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