Sec. 203. Election not to be treated as a CSEC plan
189 words·~1 min read·
/bill/113/hr/4275/eh/section-203A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 414(y) of the Internal Revenue Code of 1986, as added by section 201, is amended by adding at the end the following new paragraph: If a plan falls within the definition of a CSEC plan under this subsection (without regard to this paragraph), such plan shall be a CSEC plan unless the plan sponsor elects not later than the close of the first plan year of the plan beginning after December 31, 2013, not to be treated as a CSEC plan. An election under the preceding sentence shall take effect for such plan year and, once made, may be revoked only with the consent of the Secretary. If a plan described in subparagraph
(A)is treated as a CSEC plan, section 104 of the Pension Protection Act of 2006, as amended by the Preservation of Access to Care for Medicare Beneficiaries and Pension Relief Act of 2010, shall cease to apply to such plan as of the first date as of which such plan is treated as a CSEC plan. . The amendment made by this section shall apply as of the date of enactment of this Act.