A bill to amend the Internal Revenue Code of 1954 in order to encourage small corporation employers to establish retirement pension plans for their employees and to provide worthwhile benefits for them under such plans.
Small Corporate Employers Retirement Pension Plans Act - Authorizes small corporate employers to establish a qualified trust, or annuity plan for their employees by complying with a plan which prescribes minimum participation standards, minimum vesting standards, and minimum funding standards different from those presently applicable to qualifying trusts under the Internal Revenue Code.
Allows an employer to take a tax deduction for contributions to an employees' trust or annuity for an amount in excess of such contributions, up to a contribution level of $25,000.
Introduced in House
Introduced in House
Referred to House Committee on Ways and Means.
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