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Pub. L.
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Cooperative and Small Employer Charity Pension Flexibility Act

113th Congress · Approved Apr 7, 2014 · 128 Stat. 1101

An Act

To amend the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code of 1986 to provide for cooperative and small employer charity pension plans.

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

SECTION 1. Short Title; Table of Contents.

(a)
Short Title.— This Act may be cited as the “Cooperative and Small Employer Charity Pension Flexibility Act”.
(b)
Table of Contents.— The table of contents of this Act is as follows:

Sec. 1. Short title; table of contents.

Sec. 2. Congressional findings and declarations of policy.

Sec. 3. Effective date.

TITLE I— AMENDMENTS TO EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974 AND OTHER PROVISIONS

Sec. 101. Definition of cooperative and small employer charity pension plans.

Sec. 102. Funding rules applicable to cooperative and small employer charity pension plans.

Sec. 103. Elections.

Sec. 104. Transparency.

Sec. 105. Sponsor education and assistance.

TITLE II— AMENDMENTS TO INTERNAL REVENUE CODE OF 1986

Sec. 201. Definition of cooperative and small employer charity pension plans.

Sec. 202. Funding rules applicable to cooperative and small employer charity pension plans.

Sec. 203. Election not to be treated as a CSEC plan.

SEC. 2. Congressional Findings and Declarations of Policy.

Congress finds as follows:
(1)
Defined benefit pension plans are a cost-effective way for cooperative associations and charities to provide their employees with economic security in retirement.
(2)
Many cooperative associations and charitable organizations are only able to provide their employees with defined benefit pension plans because those organizations are able to pool their resources using the multiple employer plan structure.
(3)
The pension funding rules should encourage cooperative associations and charities to continue to provide their employees with pension benefits.

SEC. 3. Effective Date.

Unless otherwise specified in this Act, the provisions of this Act shall apply to years beginning after December 31, 2013.