PlainBillCongress, translated.Legislation. Context. Public interest.Read twice and referred to the Committee on Finance.
Congressional Research Service
Version 00 · Introduced in Senate · Jan 26, 1996
Amends the Internal Revenue Code to: (1) prohibit applying certain provisions concerning the maximum amount which may be deferred under deferred compensation plans of State and local governments and tax-exempt organizations to any qualified excess benefit arrangement of a qualified medical entity; and (2) exclude benefits provided under such an arrangement from being used to determine whether any other plan is an eligible deferred compensation plan and the amount which may be deferred under such other plan. Exempts plans maintained by tax-exempt qualified medical entities from the reduction of the limit under such provisions for other elective deferrals. Limits the maximum amount of compensation of any one participant which may be deferred under a qualified excess benefit arrangement to an amount not to exceed the lesser of: (1) $25,000; or (2) 33 and one-third percent of the participant's includible compensation. Defines "qualified excess benefit arrangement."
People & committees
Sen. Glenn, John H., Jr. [D-OH] · D–OH
Legislative record
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Read twice and referred to the Committee on Finance.
Sponsor introductory remarks on measure. (CR S509)
Introduced in Senate
Primary sources
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Source last updated: Jan 14, 2025. Consult Congress.gov for the current record.
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