To amend the Internal Revenue Code of 1986 and the Employee Retirement Income Security Act of 1974 to permit certain projected benefit increases to be taken into account in determining the amount of the full-funding limitation, and to amend such Code to increase the excise tax on employer reversions from qualified plans.

Summary

Amends the Internal Revenue Code and the Employee Retirement Income Security Act of 1974 to permit 90 percent of projected current liability to be taken into account in determining the amount of the full-funding limitation under pension plans. Defines projected current liability to include projected increases in liabilities to employees and their beneficiaries resulting from future increases in compensation if such increases were assumed to occur at a specified annual rate. Increases the tax on employer reversions from a qualified plan from 15 percent to 30 percent.

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

Timeline

1. 3 August 1990

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 3 August 1990

   Introduced

   Introduced in House

   Source: IntroReferral

3. 3 August 1990

   Introduced

   Introduced in House

   Source: IntroReferral

4. 4 September 1990

   Referred

   Referred to the Subcommittee on Labor-Management Relations.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · undated · Official file

Documents

2 official files

• Introduced in House (text)

  Introduced in House · EN

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 3 August 1990

  Open at official source

Sponsors

• PETER VISCLOSKY · D · Sponsor
• · hsed00 · Standing
• · hswm00 · Standing

Related records

No cross-record relationships stored yet.