A bill to amend the Internal Revenue Code of 1986 to allow a one-time election of the interest rate to be used to determine present value for purposes of pension cash-out restrictions, and for other purposes.
Retirement Protection Act Amendments of 1997 - Amends the Internal Revenue Code and the Employee Retirement Income Security Act of 1974 to allow a pension plan to make an irrevocable election of the interest rate (between five percent and eight percent) to be used in determining present value for purposes of pension cash-out restrictions.
Introduced in Senate
Sponsor introductory remarks on measure. (CR S448)
Read twice and referred to the Committee on Finance.
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