text: SECTION 1. SHORT TITLE.
  
      This Act may be cited as the ``Commission on Retirement Income 
  Policy Act of 1993''.
  
  SEC. 2. ESTABLISHMENT.
  
      There is established a commission to be known as the Commission on 
  Retirement Income Policy (in this Act referred to as the 
  ``Commission'').
  
  SEC. 3. DUTIES.
  
      (a) In General.--The Commission shall conduct a full and complete 
  review and study of--
              (1) trends in retirement savings in the United States;
              (2) existing Federal incentives and programs that are 
          established to encourage and protect such savings; and
              (3) new Federal incentives and programs that are needed to 
          encourage and protect such savings.
      (b) Specific Issues.--In fulfilling the duty described in 
  subsection (a), the Commission shall address--
              (1) the amount and sources of Federal and private funds, 
          including tax expenditures (as defined in section 3 of the 
          Congressional Budget Act of 1974 (2 U.S.C. 622)), needed to 
          finance the incentives and programs referred to in subsection 
          (a)(2) and any new Federal incentive or program that the 
          Commission recommends be established;
              (2) the most efficient and effective manner, considering 
          the needs of retirement plan sponsors for simplicity, 
          reasonable cost, and appropriate incentives, of ensuring that 
          individuals in the United States will have adequate retirement 
          savings;
              (3) the amounts of retirement income that future retirees 
          will need to replace various levels of preretirement income, 
          including amounts necessary to pay for medical and long-term 
          care;
              (4) the workforce and demographic trends that affect the 
          pensions of future retirees;
              (5) the role of retirement savings in the economy of the 
          United States;
              (6) sources of retirement income other than private 
          pensions that are available to individuals in the United 
          States; and
              (7) the shift away from insured and qualified pension 
          benefits in the United States.
      (c) Recommendations.--
              (1) In general.--The Commission shall formulate 
          recommendations based on the review and study conducted under 
          subsection (a). The recommendations shall include measures that 
          address the needs of future retirees for--
                      (A) appropriate pension plan coverage and other 
                  mechanisms for saving for retirement;
                      (B) an adequate retirement income;
                      (C) preservation of benefits they accumulate by 
                  participating in pension plans;
                      (D) information concerning pension plan benefits; 
                  and
                      (E) procedures to resolve disputes involving such 
                  benefits.
              (2) Effect on federal budget deficit.--A recommendation of 
          the Commission for a new Federal incentive or program that 
          would result in an increase in the Federal budget deficit shall 
          not appear in the report required under section 7 unless it is 
          accompanied by a recommendation for offsetting the increase.
  
  SEC. 4. MEMBERSHIP.
  
      (a) Number and Appointment.--
              (1) In general.--The Commission shall be composed of 18 
          members appointed not later than 90 days after the date of the 
          enactment of this Act. The Commission shall consist of the 
          following members:
                      (A) 4 individuals appointed by the President.
                      (B) 7 individuals appointed by the Speaker of the 
                  House of Representatives.
                      (C) 7 individuals appointed by the President pro 
                  tempore of the Senate.
              (2) Consultation with minority leaders.--3 of the 
          appointments made under paragraph (1)(B) shall be made in 
          consultation with the minority leader of the House of 
          Representatives. 3 of the appointments made under paragraph 
          (1)(C) shall be made in consultation with the minority leader 
          of the Senate.
              (3) Qualifications.--The individuals referred to in 
          paragraph (1) shall be Members of the Congress, leaders of 
          business or labor, distinguished academics, or other 
          individuals with distinctive qualifications or experience.
      (b) Terms.--Each member shall be appointed for the life of the 
  Commission.
      (c) Vacancies.--A vacancy in the Commission shall be filled not 
  later than 90 days after the date of the creation of the vacancy in the 
  manner in which the original appointment was made.
      (d) Compensation.--
              (1) Rates of pay.--Except as provided in paragraph (2), 
          members of the Commission shall serve without pay.
              (2) Travel expenses.--Each member of the Commission shall 
          receive travel expenses, including per diem in lieu of 
          subsistence, in accordance with sections 5702 and 5703 of title 
          5, United States Code.
      (e) Quorum.--10 members of the Commission shall constitute a 
  quorum, but 6 members may hold hearings, take testimony, or receive 
  evidence.
      (f) Chairperson.--The chairperson of the Commission shall be 
  elected by a majority vote of the members of the Commission.
      (g) Meetings.--The Commission shall meet at the call of the 
  chairperson of the Commission.
      (h) Decisions.--Decisions of the Commission shall be made according 
  to the vote of not less than a majority of the members who are present 
  and voting at a meeting called pursuant to subsection (g).
  
  SEC. 5. STAFF AND SUPPORT SERVICES.
  
      (a) Executive Director.--The Commission shall have an executive 
  director appointed by the Commission. The Commission shall fix the pay 
  of the executive director.
      (b) Staff.--The Commission may appoint and fix the pay of 
  additional personnel as it considers appropriate.
      (c) Applicability of Certain Civil Service Laws.--The executive 
  director and staff of the Commission may be appointed without regard to 
  the provisions of title 5, United States Code, governing appointments 
  in the competitive service, and may be paid without regard to the 
  provisions of chapter 51 and subchapter III of chapter 53 of that title 
  relating to classification and General Schedule pay rates.
      (d) Experts and Consultants.--The Commission may procure temporary 
  and intermittent services under section 3109(b) of title 5, United 
  States Code, at rates the Commission determines to be appropriate.
      (e) Staff of Federal Agencies.--Upon request of the Commission, the 
  head of any Federal agency may detail, on a reimbursable basis, any of 
  the personnel of the agency to the Commission to assist it in carrying 
  out its duties under this Act.
      (f) Administrative Support Services.--Upon the request of the 
  Commission, the Administrator of General Services shall provide to the 
  Commission, on a reimbursable basis, the administrative support 
  services necessary for the Commission to carry out its responsibilities 
  under this Act.
  
  SEC. 6. POWERS.
  
      (a) Hearings and Sessions.--
              (1) In general.--The Commission may, for the purpose of 
          carrying out this Act, hold hearings, sit and act at times and 
          places, take testimony, and receive evidence as the Commission 
          considers appropriate. The Commission may administer oaths or 
          affirmations to witnesses appearing before it.
              (2) Public hearings.--The Commission may hold public 
          hearings to receive the views of a broad spectrum of the public 
          on the status of the private retirement system of the United 
          States.
      (b) Delegation of Authority.--Any member, committee, or agent of 
  the Commission may, if authorized by the Commission, take any action 
  which the Commission is authorized to take by this section.
      (c) Information.--
              (1) Information from federal agencies.--
                      (A) In general.--The Commission may secure directly 
                  from any Federal agency information necessary to enable 
                  it to carry out this Act. Upon request of the 
                  Commission, the head of the Federal agency shall 
                  furnish the information to the Commission.
                      (B) Exception.--Subparagraph (A) shall not apply to 
                  any information that the Commission is prohibited to 
                  secure or request by another law.
              (2) Public surveys.--The Commission may conduct the public 
          surveys necessary to enable it to carry out this Act. In 
          conducting such surveys, the Commission shall not be considered 
          an agency for purposes of chapter 35 of title 44, United States 
          Code.
      (d) Mails.--The Commission may use the United States mails in the 
  same manner and under the same conditions as other Federal agencies.
      (e) Contract and Procurement Authority.--The Commission may make 
  purchases, and may contract with and compensate government and private 
  agencies or persons for property or services, without regard to--
              (1) section 3709 of the Revised Statutes (41 U.S.C. 5); and
              (2) title III of the Federal Property and Administrative 
          Services Act of 1949 (41 U.S.C. 251 et seq.).
      (f) Gifts.--The Commission may accept, use, and dispose of gifts of 
  services or property, both real and personal, for the purpose of 
  assisting the work of the Commission. Gifts of money and proceeds from 
  sales of property received as gifts shall be deposited in the Treasury 
  and shall be available for disbursement upon order of the Commission. 
  For purposes of Federal income, estate, and gift taxes, property 
  accepted under this subsection shall be considered as a gift to the 
  United States.
      (g) Volunteer Services.--Notwithstanding section 1342 of title 31, 
  United States Code, the Commission may accept and use voluntary and 
  uncompensated services as the Commission determines necessary.
  
  SEC. 7. REPORT.
  
      Not later than December 31, 1993, the Commission shall submit a 
  report to the President, the majority and minority leaders of the 
  Senate, and the majority and minority leaders of the House of 
  Representatives. The report shall review the matters that the 
  Commission is required to study under section 3 and shall set forth the 
  recommendations of the Commission.
  
  SEC. 8. TERMINATION.
  
      The Commission shall terminate not later than the expiration of the 
  90-day period beginning on the date on which the Commission submits its 
  report under section 7.
target: Commission on Retirement Income Policy Act of 1993 - Establishes the Commission on Retirement Income Policy. 
  Directs the Commission to study and report to the President and Congress on:  (1) trends in retirement savings in the United States; (2) existing Federal incentives and programs to encourage and protect such savings; and (3) new Federal incentives and programs needed for such purpose. Requires the Commission to address specified issues and to include in its recommendation measures addressing specified needs of future retirees. 
  Terminates the Commission within 90 days after submission of such report.
feat_title: Commission on Retirement Income Policy Act of 1993