A bill to amend the Internal Revenue Code of 1954 to permit a church plan to continue after 1982 to provide benefits for employees of organizations controlled by or associated with the church and to make clarifying amendments to the definition of church plan.

Summary

Amends the Internal Revenue Code to make permanent the special tax treatment of church agency pension plans as qualified church plans. Provides that plans maintained by groups or associations of churches include individuals "substantially all" of whom are qualified beneficiaries. Allows such plans to retain accrued benefits, according to their terms, or to continue receiving contributions for up to five years for separated employees. Allows any plan which is determined to have failed to meet church plan requirements a grace period of 270 days, or any other period specified by the Secretary of the Treasury or a court in an adjudication of such an issue, to bring itself into compliance without becoming disqualified. Applies these provisions retroactively to 1974.

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

Timeline

1. 7 May 1979

   Introduced

   Referred to Senate Committee on Finance.

   Source: IntroReferral

2. 7 May 1979

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

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

Documents

1 official file

• Introduced in Senate

  summary · EN · 7 May 1979

  Open at official source

Sponsors

• Sen. Talmadge, Herman E. [D-GA] · D · Sponsor
• Sen. Bentsen, Lloyd M. [D-TX] · D · Cosponsor
• Sen. Boren, David L. [D-OK] · D · Cosponsor
• Sen. Bayh, Birch [D-IN] · D · Cosponsor
• Sen. Lugar, Richard G. [R-IN] · R · Cosponsor
• Sen. Hollings, Ernest F. [D-SC] · D · Cosponsor
• Sen. Young, Milton R. [R-ND] · R · Cosponsor
• Sen. Tower, John G. [R-TX] · R · Cosponsor
• Sen. Melcher, John [D-MT] · D · Cosponsor
• Sen. Ford, Wendell H. [D-KY] · D · Cosponsor
• Sen. Thurmond, Strom [R-SC] · R · Cosponsor
• Sen. Cranston, Alan [D-CA] · D · Cosponsor
• Sen. Sasser, Jim [D-TN] · D · Cosponsor
• Sen. Mathias, Charles McC., Jr. [R-MD] · R · Cosponsor
• Sen. Zorinsky, Edward [D-NE] · D · Cosponsor
• Sen. Danforth, John C. [R-MO] · R · Cosponsor
• · ssfi00 · Standing

Related records

• related to → A bill to amend the Internal Revenue Code of 1954 to permit a church plan to continue after 1982 to provide benefits for employees of organizations controlled by or associated with the church and to make certain clarifying amendments to the definition of church plan.