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US HR4085

Church Plan Clarification Act of 2015


summary

Introduced
11/19/2015
In Committee
11/19/2015
Crossed Over
Passed
Dead
01/03/2017

Introduced Session

114th Congress

Bill Summary

Church Plan Clarification Act of 2015 This bill amends the Internal Revenue Code, with respect to the tax treatment of church pension plans, to: (1) provide that an organization otherwise eligible to participate in a church plan shall not be aggregated with another such organization and treated as a single employer with it unless one such organization provides at least 80% of the operating funds for the other organization during the recipient organization's preceding tax year and there is a degree of common management or supervision between the organizations, (2) adopt benefit accrual limitations for church defined benefit plans established before 1982, and (3) allow transfers and mergers of qualified church retirement plans. The bill also: (1) preempts any state law relating to wage, salary, or payroll payment, collection, deduction, garnishment, assignment, or withholding that would directly or indirectly prohibit or restrict the inclusion in any church plan of an automatic contribution arrangement; and (2) allows church plans and their supporting organizations to invest plan assets in a group trust (as defined by Internal Revenue Service Revenue Rulings).

Committee Categories

Budget and Finance

Sponsors (16)

Last Action

Referred to the House Committee on Ways and Means. (on 11/19/2015)

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