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Proposed Pension Relief Legislation for Charities
PR Newswire May 23, 2013 "U.S. Reps. Susan Brooks (R-IN) and Ron Kind (D- WI) introduced bipartisan legislation to provide relief to non-profits such as local Girl Scout councils, which now have higher pension funding rules than taxable, for-profit companies.... The Charitable Pension Flexibility Act applies to charity pension plans with multiple entities that are exempt from normal pension funding rules until 2017. This straightforward bill would permit such plans to elect into the normal rules in 2014. A technical correction that previously passed the Senate would have permitted this same option." |
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