The Church Plan Clarification Act of 2015, which passed by a voice vote on the Senate floor on December 10, was made into law when President Obama signed the tax extender bill a week later.
Sponsored by Senators. Ben Cardin, D-Maryland, and Rob Portman, R-Ohio, the Church Plan Clarification Act clarifies the application of certain tax and retirement laws and regulations to the unique structures of church pension plans.
Not only are most church retirement plans exempt from the Employee Retirement Income Security Act of 1974 (ERISA), instead they have to satisfy special laws and regulations reflecting the unique issues surrounding such plans and the churches that offer them.
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