< Back to H.R. 205 (113th Congress, 2013–2015)

Text of To amend the Internal Revenue Code of 1986 to clarify the treatment of certain retirement plan contributions picked up by ...

...picked up by governmental employers.

This bill was introduced on January 4, 2013, in a previous session of Congress, but was not enacted. The text of the bill below is as of Jan 4, 2013 (Introduced).

I

113th CONGRESS

1st Session

H. R. 205

IN THE HOUSE OF REPRESENTATIVES

January 4, 2013

introduced the following bill; which was referred to the Committee on Ways and Means

A BILL

To amend the Internal Revenue Code of 1986 to clarify the treatment of certain retirement plan contributions picked up by governmental employers.

1.

Clarification of treatment of certain retirement plan contributions picked up by governmental employers

(a)

In general

Paragraph (2) of section 414(h) of the Internal Revenue Code of 1986 is amended—

(1)

by striking For purposes of paragraph (1) and inserting the following:

(A)

In general

For purposes of paragraph (1)

, and

(2)

by adding at the end the following new subparagraph:

(B)

Treatment of elections between alternative benefit formulas

(i)

In general

For purposes of subparagraph (A), a contribution shall not fail to be treated as picked up by an employing unit merely because the employee may make an irrevocable election between the application of two alternative benefit formulas involving the same or different levels of employee contributions.

(ii)

Application to existing employees

Clause (i) shall be applied without regard to whether the employee is already covered by one of the benefit formulas referred to therein.

.

(b)

Effective date

The amendment made by this section shall apply to years ending after the date of the enactment of this Act.