[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[S. 196 Introduced in Senate (IS)]







106th CONGRESS
  1st Session
                                 S. 196

  To amend the Internal Revenue Code of 1986 to waive in the case of 
     multiemployer plans the section 415 limit on benefits to the 
        participant's average compensation for his high 3 years.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                            January 19, 1999

  Mrs. Boxer introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
  To amend the Internal Revenue Code of 1986 to waive in the case of 
     multiemployer plans the section 415 limit on benefits to the 
        participant's average compensation for his high 3 years.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. TREATMENT OF MULTIEMPLOYER PLANS UNDER SECTION 415 LIMIT ON 
              BENEFITS.

    (a) In General.--Paragraph (11) of section 415(b) of the Internal 
Revenue Code of 1986 (relating to special limitation rule for 
governmental plans) is amended--
            (1) in the heading, by inserting ``and multiemployer 
        plans'' after ``governmental plans''; and
            (2) by inserting ``or a multiemployer plan (as defined in 
        section 414(f))'' after ``governmental plan (as defined in 
        section 414(d))''.
    (b) Effective Date.--The amendments made by this section shall 
apply to plan years beginning after December 31, 1999.
                                 <all>