,i  #aacth ,,congress  #ast ,session    
,h4 ,r4 #bacd  ,,in ,,the ,,house ,,of  
,,representatives  ,may #bc1 #bjac ,mrs4
 ,brooks of ,indiana 7for herself and   
,mr4 ,kind7 introduced the following    
bill2 which was referred to the         
,committee on ,education and the        
,workforce1 and in addition to the      
,committee on ,ways and ,means1 for a   
period to be subsequently determined by 
the ,speaker1 in each case for          
consideration of such provisions as fall
 within the jurisdiction of the         
committee concerned  ,a ,,bill  ,to     
provide an election for funding parity  
for charity-sponsored pension plans4    
#a4 ,short title ,this ,act may be cited
 as the ,charitable ,pension            
,flexibility ,act of #bjac4  #b4        
,election to cease to be treated as an  
eligible charity plan  7a7 ,in general  
,subsection 7d7 of section #ajd of the  
,pension ,protection ,act of #bjjf1 as  
added by section #bjb of the            
,preservation of ,access to ,care for   

,medicare ,beneficiaries and ,pension   
,relief ,act of #bjaj1 is amended by--  
7#a7 striking ,for purposes of and      
inserting 7#a7 ,in general4--,for       
purposes of1 and  7#b7 adding at the end
 the following3  7#b7 ,election not to  
be an eligible charity plan ,a plan     
sponsor may elect for a plan to cease to
 be treated as an eligible charity plan 
for plan years beginning after ,december
 #ca1 #bjac4 ,such election shall be    
made at such time and in such form and  
manner as shall be prescribed by the    
,secretary of the ,treasury4 ,any such  
election may be revoked only with the   
consent of the ,secretary of the        
,treasury4  7#c7 ,election to use       
funding options available to other plan 
sponsors  7,a7 ,in general ,a plan      
sponsor that makes the election         
described in paragraph 7#b7 may also    
elect for a plan to apply the rules     
described in subparagraphs 7,b71 7,c71  
and 7,d7 for plan years beginning after 
,december #ca1 #bjac4 ,such election    

shall be made at such time and in such  
form and manner as shall be prescribed  
by the ,secretary of the ,treasury4 ,any
 such election may be revoked only with 
the consent of the ,secretary of the    
,treasury4  7,b7 ,applicable shortfall  
amortization bases ,under the rules     
described in this subparagraph1 for the 
first plan year beginning after         
,december #ca1 #bjac1 a plan has--  7i7 
an #aa-year shortfall amortization base1
  7ii7 a #ab-year shortfall amortization
 base1 and  7iii7 a #g-year shortfall   
amortization base4  7,c7 ,determination 
of installments ,under the rules        
described in this subparagraph1 section 
#dcj7;c77#b77;,a7 and 7,b7 of the       
,internal ,revenue ,code of #aihf and   
section #cjc7;c77#b77;,a7 and 7,b7 of   
the ,employee ,retirement ,income       
,security ,act of #aigd shall be        
applied--  7i7 in the case of an        
#aa-year shortfall amortization base1 by
 substituting #aa-plan-year period for  
#g-plan-year period wherever it appears1

 and  7ii7 in the case a #ab-year       
shortfall amortization base1 by         
substituting #ab-plan-year period for   
#g-plan-year period wherever it appears4
  7,d7 ,alternate required installments 
,under the rules described in this      
subparagraph1 section #dcj7;c77#g7 of   
the ,internal ,revenue ,code of #aihf   
and section #cjc7;c77#g7 of the         
,employee ,retirement ,income ,security 
,act of #aigd shall apply to a plan for 
which an election has been made under   
subparagraph 7,a74 ,such provisions     
shall apply in the following manner3    
7i7 ,the first plan year beginning after
 ,december #ca1 #bjac1 shall be treated 
as an election year1 and no other plan  
years shall be so treated4  7ii7 ,all   
references in section #dcj7;c77#g7 of   
such ,code and in section #cjc7;c77#g7  
of such ,act to ,february #bh1 #bjaj or 
,march #a1 #bjaj shall be treated as    
references to ,february #bh1 #bjac or   
,march #a1 #bjac1 respectively4  7,e7   
#aa-year shortfall amortization base    

,for purposes of this paragraph1 the    
#aa-year shortfall amortization base is 
an amount1 determined for the first plan
 year beginning after ,december #ca1    
#bjac1 equal to the unamortized         
principal amount of the shortfall       
amortization base 7as defined in section
 #dcj7;c77#c7 of the ,internal ,revenue 
,code of #aihf and section #cjc7;c77#c7 
of the ,employee ,retirement ,income    
,security ,act of #aigd7 that would have
 applied to the plan for the first plan 
year beginning after ,december #ca1     
#bjji1 if--  7i7 the plan had never been
 an eligible charity plan4  7ii7 the    
plan sponsor had made the election      
described in section                    
#dcj7;c77#b77;,d77i7 of the ,internal   
,revenue ,code of #aihf and in section  
#cjc7;c77#b77;,d77i7 of the ,employee   
,retirement ,income ,security ,act of   
#aigd to have section                   
#dcj7;c77#b77;,d77iii7 of such ,code and
 section #cjc7;c77#b77;,d77iii7 of such 
,act apply with respect to the shortfall

 amortization base for the first plan   
year beginning after ,december #ca1     
#bjji1 and  7iii7 no event had occurred 
under paragraph 7#f7 or 7#g7 of section 
#dcj7;c7 of such ,code or paragraph 7#f7
 or 7#g7 of section #cjc7;c7 of such    
,act that1 as of the first day of the   
first plan year beginning after         
,december #ca1 #bjac1 would have        
modified the shortfall amortization base
 or the shortfall amortization          
installments with respect to the first  
plan year beginning after ,december #ca1
 #bjji4  7,f7 #ab-year shortfall        
amortization base ,for purposes of this 
paragraph1 the #ab-year shortfall       
amortization base is an amount1         
determined for the first plan year      
beginning after ,december #ca1 #bjac1   
equal to the unamortized principal      
amount of the shortfall amortization    
base 7as defined in section #dcj7;c77#c7
 of the ,internal ,revenue ,code of     
#aihf and section #cjc7;c77#c7 of the   
,employee ,retirement ,income ,security 

,act of #aigd7 that would have applied  
to the plan for the first plan beginning
 after ,december #ca1 #bjaj1 if--  7i7  
the plan had never been an eligible     
charity plan1  7ii7 the plan sponsor had
 made the election described in section 
#dcj7;c77#b77;,d77i7 of the ,internal   
,revenue ,code of #aihf and in section  
#cjc7;c77#b77;,d77i7 of the ,employee   
,retirement ,income ,security ,act of   
#aigd to have section                   
#dcj7;c77#b77;,d77iii7 of such ,code and
 section #cjc7;c77#b77;,d77iii7 of such 
,act apply with respect to the shortfall
 amortization base for the first plan   
year beginning after ,december #ca1     
#bjaj1 and  7iii7 no event had occurred 
under paragraph 7#f7 or 7#g7 of section 
#dcj7;c7 of such ,code or paragraph 7#f7
 or 7#g7 of section #cjc7;c7 of such    
,act that1 as of the first day of the   
first plan year beginning after         
,december #ca1 #bjac1 would have        
modified the shortfall amortization base
 or the shortfall amortization          

installments with respect to the first  
plan year beginning after ,december #ca1
 #bjaj4  7,g7 #g-year shortfall         
amortization base ,for purposes of this 
paragraph1 the #g-year shortfall        
amortization base is an amount1         
determined for the first plan year      
beginning after ,december #ca1 #bjac1   
equal to--  7i7 the shortfall           
amortization base for the first plan    
year beginning after ,december #ca1     
#bjac1 without regard to this paragraph1
 minus  7ii7 the sum of the #aa-year    
shortfall amortization base and the     
#ab-year shortfall amortization base4  4
  7b7 ,effective date ,the amendments   
made by this section shall take effect  
on the date of the enactment of this    
,act4