Church Plans
Legislation that would amend the rules for church plans and 403(b)s in a variety of ways is now before both chambers of Congress. Rep. Pat Tiberi (R-Ohio) introduced the House version of The Church Plan Clarification Act of 2015, H.R. 4085, and Sen. Ben Cardin (D-Md.) introduced the Senate version...
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A federal district court judge in Michigan has given preliminary approval to a settlement of the Ascension Health class action litigation. Under the terms of the settlement in Overall v. Ascension Health, the nonprofit Catholic health care system remains able to avail itself of the church plan...
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A church client wonders if it needs to establish a 403(b)(9) retirement income account so the church board can designate post-retirement housing allowances as tax-free distributions. In this week’s Tech Talk, Ellie Lowder tells us if it does.
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In spring 2013, a nationwide wave of class action lawsuits were filed against five large hospital systems claiming affiliation with the Catholic Church. The claims were all the same: The defined benefit pension plans sponsored by the hospitals were not eligible for the church plan exemption under...
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