HR 3632
105th Congress
House
Labor and Employment
Annuities
Defined benefit pension plans
Pension funds
Tax-deferred compensation plans
Taxation
Wages
To amend the Internal Revenue Code of 1986 to grant relief to participants in multiemployer plans from certain section 415 limits on defined benefit pensions.
Introduced: April 1, 1998
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 1, 1998
Referred to the House Committee on Ways and Means.
Apr 1, 1998
Introduced in House
Plain-English summary
Amends the Internal Revenue Code with respect to limitations on benefits and contributions under qualified plans to apply to multiemployer plans the same treatment in the adjustment to the $90,000 limit on benefits, where the benefit begins before the Social Security retirement age, as is accorded to plans maintained by governments and tax-exempt organizations.
Exempts multiemployer plans from the alternative benefit limit of 100 percent of the participant's average compensation for his or her high three years.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1
Cosponsors
1