Mortgage Investments by Pension Funds and Tax Treatment of Certain Church Retirement Annuities: Hearing Before the Subcommittee on Savings, Pensions, and Investment Policy of the Committee on Finance, United States Senate, Ninety-seventh Congress, Second Session, on S. 1910, May 19, 1982 |
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1954 is amended AFL-CIO amount association of churches bill billion Chairman church employees church or convention church pension boards church plans class exemption compensation convention or association denomination Department of Labor described in section elections employee's ERISA exclusion allowance Fannie Mae FHLMC fiduciary financing FNMA GEORGINE Ginnie Mae GLICKMAN health service agencies hearing home health service housing industry interest rates Internal Revenue Code Internal Revenue Service invest in residential INVESTMENT POLICY investments by pension investor lay employees legislation limitation ministers and lay mortgage banker Mortgage Bankers Association mortgage investments mortgage loans mortgage-backed securities multiemployer plans paragraph participants and beneficiaries parties in interest pension fund investment pension plans percent plan assets plan investments plan participants plan trustees prepared statement problems programs prudent man rule purchase real estate regulations residential mortgages retirement benefits retirement income rule section 415 Senator CHAFEE Southern Baptist Convention SUBCOMMITTEE ON SAVINGS subsection tax-sheltered annuity taxable tion
Popular passages
Page 32 - With the care, skill, prudence and diligence under the circumstances then prevailing that a prudent man acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of a like character and with like aims...
Page 93 - Hearings Before the Subcommittee on Labor of the Senate Committee on Labor and Public Welfare on S.
Page 192 - For purposes of this paragraph the term 'educational institution' means an educational institution as defined in section 151 (e) (4). "(iii) For purposes of this paragraph the term 'home health service agency' means an organization described in subsection 501 (c) (3) which is exempt from tax under section 501 (a) and which has been determined by the Secretary of Health, Education, and Welfare to be a home health agency (as defined in section 1861 (o) of the Social Security Act), "(d) CosT-OF-LiviNG...
Page 191 - The provisions of this paragraph apply only if the participant elects its application at the time and in the manner provided under regulations prescribed by the Secretary or his delegate. Not more than one election may be made under subparagraph (A) by any participant. A participant who elects to have the provisions of subparagraph (A), (B), or (C) of this paragraph apply to him may not elect to have any other subparagraph of this paragraph apply to him. Any election...
Page 203 - Section 3121 (b) (1) of the Internal Revenue Code of 1954 Is amended to read as follows: (1) (A) Service performed In connection with the production or harvesting of any commodity denned as an agricultural commodity in section 15 (g) of the Agricultural Marketing Act.
Page 200 - In the case of amounts contributed for an annuity contract described in section 403 (b) for the year in which occurs a participant's separation from the service with an educational institution, a hospital, or a home health service agency, at the election of the participant there is substituted for the amount specified in paragraph...
Page 138 - Government, or (iv) is intended to be sold by the originating lender to the Federal National Mortgage Association (FNMA), the Government National Mortgage Association (GNMA), or the Federal Home Loan Mortgage Corporation (FHLMC), or to a financial institution which intends to sell the mortgage to FHLMC.
Page 190 - Ante, p. 940. contract described in section 403 (b) for any year in the case of a participant who is an employee of an educational institution, a hospital, or a home health service agency, at the election of the participant there is substituted for the amount specified in paragraph...
Page 188 - ... by his employer under a plan described in section 403(a) if the annuity contract for the benefit of such employee were treated as a defined contribution plan maintained by the employer.
Page 106 - DOL has adopted the mortgage standards of the Federal National Mortgage Association (FNMA), the Federal Home Loan Mortgage Corporation (FHLMC), and the Government National Mortgage Association (GNMA).