Multiemployer Plan Bailout Caps Benefit Plan Limits

2021-02-09T14:41:42-08:00February 9th, 2021|Categories: Multiemployer Plans|Tags: |

Legislation before the House Ways & Means Committee plans to help pay for a multiemployer plan bailout by utilizing a budget “gimmick” that would freeze retirement plan contribution limits—though not for collectively bargained plans. More specifically, the Butch Lewis Emergency Pension Plan Relief Act of 2021, included as subtitle H of a nine-part package that the committee plans to mark up this week, would impose a cost-of-living freeze on: the Code Section 415(c) annual contribution limit for defined contribution [...]