A bill to amend the Internal Revenue Code of 1954 to extend tax deferral advantages associated with the receipt of benefits from qualified pension plans to individuals who receive certain annuities during a corporate takeover to replace such plans.

Summary

Amends the Internal Revenue Code to provide that no amount shall be included in the gross income of a beneficiary by reason of payment of premiums by an employer for a qualified takeover annuity contract or by receipt by the beneficiary of a qualified takeover annuity contract. Defines "qualified takeover annuity contract." Requires all individuals who forfeited their benefits in the qualified benefit plan of the corporation acquired to be given a qualified takeover annuity contract.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 16 December 1985

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.