A bill to amend the Internal Revenue Code of 1954 to provide that employees may make certain contributions to provide for cost-of-living protection under a defined benefit plan, and for other purposes.

Summary

Amends the Internal Revenue Code to allow employees and employers to make contributions to a cost-of-living arrangement to supplement a defined benefit plan. Defines a "cost-of-living" arrangement as an arrangement under a defined benefit plan which indexes a benefit provided under such plan or a separate plan subject to certain requirements. Requires that participation in such an arrangement must be elective. Provides that transfers to a cost-of-living arrangement shall not be taken into account for purposes of lump-sum distribution. Disallows an income tax deduction for employee contributions to a cost-of-living arrangement.

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Documents

1 official file

• Introduced in Senate

  summary · EN · 31 October 1985

  Open at official source

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