Summary: H.R.3632 — 105th Congress (1997-1998)All Information (Except Text)

There is one summary for H.R.3632. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (04/01/1998)

Amends the Internal Revenue Code with respect to limitations on benefits and contributions under qualified plans to apply to multiemployer plans the same treatment in the adjustment to the $90,000 limit on benefits, where the benefit begins before the Social Security retirement age, as is accorded to plans maintained by governments and tax-exempt organizations.

Exempts multiemployer plans from the alternative benefit limit of 100 percent of the participant's average compensation for his or her high three years.