TheWeekInCongress.com

Week Ending December 10, 2004

HR 5365 To treat certain arrangements maintained by the YMCA Retirement Fund as church plans for the purposes of certain provisions of the Internal Revenue Code of 1986, and for other purposes.

BRIEF

   Although the pension plan for YMCA employees is a church plan by nature of  the way in which it operates, the bill sponsor explained that this bill makes that clear for IRS purposes.

   The bill makes the YMCA plan eligible for tax treatment as a money purchase pension plan and allows for self-funded death benefits.

Sponsor: Rep. Phil English (R-PA-3^rd)

Vote: Passed House by voice vote (Nov. 19, 2004); Passed Senate by Unanimous Consent (Dec. 7, 2004); Signed by President Bush as Public Law 108-476 (Dec. 21, 2004)  

Cost to the taxpayers: 

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