Summary: S.1092 — 96th Congress (1979-1980)All Information (Except Text)

There is one summary for S.1092. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (05/07/1979)

Amends the Internal Revenue Code to provide that, for purposes of computing the allowable retirement plan exclusion and employer contributions allowance for church employees, all years of service for a church, church association, or an agency for such churches, shall be considered employment for one employer.

Extends to church employees the same option presently enjoyed by employees of tax-exempt health and education organizations to elect alternative exclusion allowances for contributions to annuity contracts. Provides a minimum $10,000 allowance for annual additions to these contracts without regard to the amount of the employee's compensation.