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S. 1063

BillFederalSenateIn Committee
USEC Privatization Amendments Act of 2009
About This Bill
Committee
Latest Action · May 18, 2009
Read twice and referred to the Committee on Finance.
Congress
111th (2009–2011)
Introduced
May 18, 2009
Sponsor
Sen. Sherrod BrownD
Cosponsors (0)
None
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Summary

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USEC Privatization Amendments Act of 2009 - Directs the Secretary of Energy to establish a program for paying certain affected participants a one-time lump sum payment. Defines affected participants as persons who retired from active employment at one of the gaseous diffusion plants of the United States Enrichment Corporation (USEC), or are employed by USEC's operating contractor, on or before its privatization date as vested participants in a pension plan maintained either by USEC's operating contractor or by a contractor employed prior to July 1, 1993, by the Department of Energy to operate a gaseous diffusion plant. Prescribes a formula for the determination of such payments, based on the total recoverable amount of accrued pension benefits. Authorizes any affected participant who receives such a payment to make one or more rollover contributions up to the payment amount to a regular (non-Roth) individual retirement account (IRA), which shall be excluded from gross income for tax purposes under the Internal Revenue Code. Includes in gross income any such rollover into a Roth IRA.

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