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Cooperative and Small Employer Charity Pension Flexibility Act

H.R. 4275 · 113th Congress · Apr 7, 2014 · Lineage

AN ACT

To amend the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code of 1986 to provide for cooperative and small employer charity pension plans.

Section 1 Short title; table of contents

(a)
Short title— This Act may be cited as the “Cooperative and Small Employer Charity Pension Flexibility Act”.
(b)
Table of contents— The table of contents of this Act is as follows:

Sec. 2 Congressional findings and declarations of policy

Congress finds as follows:
(1)
Defined benefit pension plans are a cost-effective way for cooperative associations and charities to provide their employees with economic security in retirement.
(2)
Many cooperative associations and charitable organizations are only able to provide their employees with defined benefit pension plans because those organizations are able to pool their resources using the multiple employer plan structure.
(3)
The pension funding rules should encourage cooperative associations and charities to continue to provide their employees with pension benefits.

Sec. 3 Effective date

Unless otherwise specified in this Act, the provisions of this Act shall apply to years beginning after December 31, 2013.