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Concerns and Recommendations on Tax Deductibility of Pension Plan Contributions

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Concerns and Recommendations on Tax Deductibility of Pension Plan Contributions

The author is writing to Mr. Jones about a proposed law regarding tax deductions for employee contributions to pension plans. The author believes that making voluntary contributions deductible but not mandatory contributions would be a bad law. They suggest restructuring pension plans to make mandatory contributions voluntary instead. They also suggest excluding employee contributions up to the Social Security contribution figure for federal workers not covered under Social Security. The author advises against unequal deduction limits for those covered under a pension plan and those who aren't, as it would complicate matters. They encourage keeping the deduction limits equal.

Catalogue Metadata

Title: Concerns and Recommendations on Tax Deductibility of Pension Plan Contributions

Date - creation

Expression: 11-May-81

Type: single

Begin: 1981-05-11

Date - creation

Expression: 97th (1981-1983)

Type: inclusive

Begin: 1981

End: 1983

Scope and Content: The author is writing to Mr. Jones about a proposed law regarding tax deductions for employee contributions to pension plans. The author believes that making voluntary contributions deductible but not mandatory contributions would be a bad law. They suggest restructuring pension plans to make mandatory contributions voluntary instead. They also suggest excluding employee contributions up to the Social Security contribution figure for federal workers not covered under Social Security. The author advises against unequal deduction limits for those covered under a pension plan and those who aren't, as it would complicate matters. They encourage keeping the deduction limits equal.

Extent

Portion: whole

Number: 1

Type: pages

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Carl Albert Congressional Research and Studies Center | University of Oklahoma https://www.ou.edu/carlalbertcenter