S 1794 · 97th Congress · Taxation

A bill to amend the Internal Revenue Code of 1954.

Introduced 1981-10-29· Sponsored by Sen. Wallop, Malcolm [R-WY]· Senate

Bill Progress

✓
Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Committee on Finance requested executive comment from OMB; Treasury Department.(1981-11-02)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to provide that a money purchase pension plan shall not lose its tax exemption because the plan includes a qualified salary reduction arrangement. Defines "qualified salary reduction arrangement" and "money purchase pension plan" for purposes of this Act. Provides that distributions from such a plan shall be taxable to the beneficiary in the same manner as an annuity.…

Summarized by Claude AI · Non-partisan · For informational purposes only