I have to give Nationwide credit this week for prodding lawmakers to move on a bill that could encourage small businesses to offer retirement plans.

The financial services firm revealed 75 percent of small business owners agree financial preparedness in this country has reached crisis levels. Yet only one in five of roughly 30 million small businesses offer a 401(k) or other employee-funded retirement plan, and only 11 percent say they're likely to add one within the next two years. That's because 69 percent believe their business is too small and more than half say it's too expensive.

The survey populated headlines and brought attention to a legislative proposal that's been sidelined in committee wasteland since spring. The bill, the Small Businesses Add Value for Employees Act of 2011, would help small employers, Nationwide says, because it would encourage small businesses to pool together to offer Multiple Small Employer Plans that are much less expensive than single employer plans and simplify an employer's administrative requirements.

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The SAVE Act was introduced in March and was referred to the House Ways and Means Committee. Like most other committee-determined resolutions, it hasn't resurfaced for a vote.

So, as we approach the end of the year, I would like to take this time to reflect on a few more pieces of legislation introduced in 2011 that have potential to improve or encourage retirement planning, but may not live to see the light of day. Plus, some quirky bills that haven't got a shot in hell:

H.R. 867: Retirement Security for Today's Four-Year-Olds Act of 2011

  • Sponsor/s: Rep. Cynthia Lummis, R-Wyo.
  • What it does: Amends title II of the Social Security Act to set the retirement benefits age for today's four-year-olds at age 70.
  • Introduced: March 14, 2011
  • Last Action: On March 14, 2011, referred to House Committee on Ways and Means, then to Subcommittee on Social Security

S. 1020: Savings Enhancement by Alleviating Leakage in 401(k)Savings Act of 2011

  • Sponsor/s: Sens. Herb Kohl, D-Wis., and Mike Enzi, R-Wyo.
  • What it does: Amend the Internal Revenue Code of 1986 to modify the rules relating to loans made from a qualified employer plan, and for other purposes. The bill would provide flexibility to loan repayment hardship tax rules and limit most 401(k) loan practices that provide easy access to retirement funds but adds costs and fees to pension plans.
  • Introduced: May 18, 2011
  • Last action: On May 18, 2011, read twice and referred to the Committee on Finance

H.R. 6484: Public Employee Pension Transparency Act

  • Sponsor/s: Congressman Devin Nunes, R-Calif., Sen. Richard Burr, R-N.C., Sen. John Thune, R-S.D., and House Budget Committee Chair Paul Ryan, R-Wis.
  • What it does: According to the National Association of Bond Lawyers, the law will require state and local pensions to report pension liabilities to the U.S. Department of Treasury with two separate methodologies, one using uniform guidelines, requiring what the sponsors call a "more realistic discount rate." State and local governments that fail to report in this manner will be denied the ability to issue federal tax-exempt bonds. Sponsors say the law is needed to expose the true level of unfunded liabilities associated with pensions.
  • Introduced: (reintroduced after initial offering in December 2010) Feb. 9, 2011
  • Last action: On Feb. 9, 2011, referred to the House Committee on Ways and Means.

H.R. 2109: Savings Account for Every American Act of 2011

  • Sponsor/s: Rep. Pete Sessions, R-Texas
  • What it does: According to The Hill, "workers would immediately have 6.2 percent of their wages sent to a 'SAFE' account each year. That would take the place of the 6.2 percent the workers now contributed to Social Security. Another 6.2 percent is sent to Social Security by employers. Under the Sessions bill, employers would continue to make this matching contribution to Social Security, but after 15 years, employers could also send that amount to the employee's SAFE account."
  • Introduced: June 3, 2011
  • Last action: On June 20, 2011, referred to Subcommittee on Federal Workforce, U.S. Postal Service, and Labor Policy

H.R. 3480: End Pensions in Congress Act

  • Sponsor/s: Rep. Tim Griffin, R-Ark.
  • What it does: Under current law, at the age of retirement members of the House and Senate who serve for at least five years receive a pension. This pension provides them with an annual payment of 1.7 percent of their salary multiplied by the number of years they served in Congress. The EPIC Act would end the Congressional pension plan for recently elected and future members of the House and Senate who have not yet qualified for pension benefits. The EPIC Act would also end the pension plan for members of the House and Senate who have served for five or more years but do not opt in to continue the pension plan within 90 days.
  • Introduced: Nov. 18, 2011
  • Last Action: On Nov. 18, 2011, referred to House Oversight and Government Reform
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