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To amend the Internal Revenue Code of 1986 to protect older, longer service and grandfathered participants in defined benefit plans.

USA115th CongressHR-1962| House 
| Updated: 4/5/2017
Patrick J. Tiberi

Patrick J. Tiberi

Republican Representative

Ohio

Cosponsors (1)
Richard E. Neal (Democratic)

Ways and Means Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Retirement Security Preservation Act of 2017 This bill amends the Internal Revenue Code to modify the nondiscrimination requirements for certain defined benefit retirement plans that limit participation or certain features to a closed class, such as individuals who were hired before a certain date. (Under current law, the plans may not discriminate in favor of highly compensated employees and must meet minimum participation requirements.) The bill applies only to a defined benefit plan that: (1) closed before April 5, 2017; or (2) was in effect for at least five years when it closed and did not substantially increase the coverage or value of the benefits, rights, or features for the closed class during the five-year period before it closed, except as the result of certain business acquisitions or mergers. Such a plan meets the nondiscrimination requirements if it: (1) satisfies certain testing rules for the year that the class closes and the two succeeding plan years, and (2) is not amended in a discriminatory manner after the class is closed. A defined contribution plan that offers additional contributions or benefits to a closed class whose benefits under a defined benefit plan have been reduced or eliminated meets the nondiscrimination requirements if: (1) the group receiving the contributions or benefits satisfies certain testing rules for the year in which the group is closed and for two subsequent plan years, and (2) the plan is not amended in a discriminatory manner. A defined benefit plan that is either closed or has ceased benefit accruals for all participants (frozen plan) satisfies the minimum participation requirements if the plan met the requirements when it was closed or frozen.
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Timeline
Apr 5, 2017

Latest Companion Bill Action

S 115-852
Introduced in Senate
Apr 5, 2017
Introduced in House
Apr 5, 2017
Referred to the House Committee on Ways and Means.
  • April 5, 2017

    Latest Companion Bill Action

    S 115-852
    Introduced in Senate


  • April 5, 2017
    Introduced in House


  • April 5, 2017
    Referred to the House Committee on Ways and Means.

Taxation

Related Bills

  • HR 115-1: An Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018.
  • S 115-852: A bill to amend the Internal Revenue Code of 1986 to protect older, longer service and grandfathered participants in defined benefit plans.
  • S 115-2526: A bill to amend the Internal Revenue Code of 1986 to encourage retirement savings, and for other purposes.
  • HR 115-6757: Family Savings Act of 2018
  • HR 115-88: Shiloh National Military Park Boundary Adjustment and Parker's Crossroads Battlefield Designation Act
Employee benefits and pensionsIncome tax deferral

To amend the Internal Revenue Code of 1986 to protect older, longer service and grandfathered participants in defined benefit plans.

USA115th CongressHR-1962| House 
| Updated: 4/5/2017
Retirement Security Preservation Act of 2017 This bill amends the Internal Revenue Code to modify the nondiscrimination requirements for certain defined benefit retirement plans that limit participation or certain features to a closed class, such as individuals who were hired before a certain date. (Under current law, the plans may not discriminate in favor of highly compensated employees and must meet minimum participation requirements.) The bill applies only to a defined benefit plan that: (1) closed before April 5, 2017; or (2) was in effect for at least five years when it closed and did not substantially increase the coverage or value of the benefits, rights, or features for the closed class during the five-year period before it closed, except as the result of certain business acquisitions or mergers. Such a plan meets the nondiscrimination requirements if it: (1) satisfies certain testing rules for the year that the class closes and the two succeeding plan years, and (2) is not amended in a discriminatory manner after the class is closed. A defined contribution plan that offers additional contributions or benefits to a closed class whose benefits under a defined benefit plan have been reduced or eliminated meets the nondiscrimination requirements if: (1) the group receiving the contributions or benefits satisfies certain testing rules for the year in which the group is closed and for two subsequent plan years, and (2) the plan is not amended in a discriminatory manner. A defined benefit plan that is either closed or has ceased benefit accruals for all participants (frozen plan) satisfies the minimum participation requirements if the plan met the requirements when it was closed or frozen.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Apr 5, 2017

Latest Companion Bill Action

S 115-852
Introduced in Senate
Apr 5, 2017
Introduced in House
Apr 5, 2017
Referred to the House Committee on Ways and Means.
  • April 5, 2017

    Latest Companion Bill Action

    S 115-852
    Introduced in Senate


  • April 5, 2017
    Introduced in House


  • April 5, 2017
    Referred to the House Committee on Ways and Means.
Patrick J. Tiberi

Patrick J. Tiberi

Republican Representative

Ohio

Cosponsors (1)
Richard E. Neal (Democratic)

Ways and Means Committee

Taxation

Related Bills

  • HR 115-1: An Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018.
  • S 115-852: A bill to amend the Internal Revenue Code of 1986 to protect older, longer service and grandfathered participants in defined benefit plans.
  • S 115-2526: A bill to amend the Internal Revenue Code of 1986 to encourage retirement savings, and for other purposes.
  • HR 115-6757: Family Savings Act of 2018
  • HR 115-88: Shiloh National Military Park Boundary Adjustment and Parker's Crossroads Battlefield Designation Act
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Employee benefits and pensionsIncome tax deferral