[Congressional Record Volume 149, Number 48 (Tuesday, March 25, 2003)]
[Senate]
[Page S4378]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. BUNNING (for himself, Mr. Smith, and Mr. Graham of 
        Florida):
  S. 698. A bill to clarify the status of the Young Men's Christian 
Association Retirement Fund for purposes of the Internal Revenue Code 
of 1986; to the Committee on Finance.
  Mr. BUNNING. Mr. President, I rise today to introduce a bill of 
critical importance to the over 90,000 participants and beneficiaries 
of the YMCA pension plan. This issue affects the 656 hard-working YMCA 
employees in Kentucky that initially brought this problem to my 
attention.
  With its presence felt in more than 10,000 communities nationwide, 
YMCA is the Nation's largest community service organization. Each year 
YMCA employees deliver important health and social services to over 
17.9 million Americans. The YMCA mission to ``put Christian principles 
in practice through programs that build healthy spirit for mind, body, 
for all'' is indeed a very noble endeavor. YMCAs serve people of all 
faiths, incomes, ages, and race. This generous organization never turns 
people away for inability to pay.
  YMCA's strength is in both its dedicated employees and the people 
they bring together through its service. Each local YMCA is tailored to 
the specific needs of the community in which it serves. The employees 
of the YMCA do God's work each day. This bill ensures that they will 
continue to receive the pensions they have earned and deserve.
  With over $3 billion in assets, the YMCA pension plan has been in 
place for over 80 years. The plan has always been considered as a 
``church pension plan.'' There are no problems with the operation of 
the plan and the IRS has said it is in full compliance--with one 
possible exception.
  Generally, in order to be considered a ``church plan'' the sponsoring 
organization must be affiliated with a specific church. Traditionally, 
the YMCA has not affiliated with any one church, but has instead 
identified with a ``Christian affiliation.'' This bill would clarify 
that the plan will continue to be a ``church plan'' despite the fact 
that the YMCA is not limited to one specific church or religious 
denomination. It is important that Congress clarifies this technicality 
to ensure that the beneficiaries of the YMCA pension plan receive the 
benefits they have earned and deserve.
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