Top Law and Government Legislation regarding 'Pension funds' in Federal Government

Supports the goals and ideals of National Save for Retirement Week (October 19-25, 2008).

Supports the need to raise public awareness of efficiently utilizing substantial tax revenues that currently subsidize retirement savings, revenues in excess of $170 billion for the 2007 Fiscal Year Budget.

Supports the need to raise public awareness of the importance to save adequately for retirement and the availability of tax-preferred employer-sponsored retirement savings vehicles.

Amends the Pension Protection Act of 2006 to require commercial passenger airline pension plan sponsors electing not to utilitze the alternative funding schedule to use an interest rate of 8.25% in determining the funding target for each of the 10 plan years (rather than the segmented interest rates calculated on the basis of the corporate bond yield curve).

Amends the Pension Protection Act of 2006 to make technical corrections to special funding rules applicable to pension plans sponsored by commercial passenger airlines to provide for plans with plan years beginning on the first day of the month.

Amends the Internal Revenue Code to eliminate the requirement that individual retirement accounts (other than Roth IRAs) and elective deferrals under qualified cash or deferred arrangments must have a beginning date for mandatory distributions.

Seniors' Tax Simplification Act of 2007 - Directs the Secretary of the Treasury to make available a new Federal income tax Form 1040S (similar to Form 1040EZ) to individuals who have turned 65 as of the close of the taxable year. Allows the form to be used even if income includes: (1) social security benefits; (2) distributions from qualified retirement plans, annuities, or other such deferred payment arrangements; (3) interest and dividends; or (4) capital gains and losses.

Better Future for American Families Act - Amends the Internal Revenue Code to rename the tax credit for elective deferrals and IRA contributions as the saver's credit. Revises the applicable percentage and phaseout formula for calculating the credit and makes such credit refundable.

Supports the goals and ideals of National Save for Retirement Week (October 21- 27, 2007), including raising public awareness of the importance to save adequately for retirement and the availability of employer-sponsored retirement savings vehicles.

Reduce Wasteful Tax Forms Act of 2007 - Amends the Internal Revenue Code to extend until February 15 the annual deadline for reporting certain investment income to the Internal Revenue Service.

Supports the goals and ideals of National Save for Retirement Week (October 19-25, 2008).

Supports the need to raise public awareness of efficiently utilizing substantial tax revenues that currently subsidize retirement savings, revenues in excess of $170 billion for the 2007 Fiscal Year Budget.

Supports the need to raise public awareness of the importance to save adequately for retirement and the availability of tax-preferred employer-sponsored retirement savings vehicles.

Amends the Pension Protection Act of 2006, the Internal Revenue Code, and the Employee Retirement Income Security Act of 1974 to delay until January 1, 2009, the implementation of pension plan funding rules enacted by the Pension Protection Act of 2006.

Dave Thomas Adoption Act of 2007 - Amends the Internal Revenue Code to allow for penalty-free withdrawals from individual retirement plans if used to pay adoption expenses.

Amends title XVI (Supplemental Security Income) of the Social Security Act to exclude the first $75,000 of the value of retirement plans (adjusted annually for cost of living) in determining eligibility for, and the amount of benefits under, the SSI program.