Description of S. 1784, (Retirement Income Policy Act of 1985) : Scheduled for a Hearing Before the Subcommittee On Savings, Pensions, And Investment Policy of the Senate Committee On Finance, On January 28, 1986 Jcs-1-86

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— The bill would define the term allowable subdivision to mean the portion of the relevant workforce of the employer that serves in a separate business unit as defined ir Treasury regulations distinguishing such business unit solely or the basis of its distinct locality or its separate product line. Fur- ther, the bill would define an allowable subdivision to include the portion of the relevant workforce of the employer that does not serve in the workforce of any such separate business unit.
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... Limitations on Deductions, Contributions, and Benefits (sees.
Ill, 112, 211, 212, 213, 214, and 215 of tiie bill, sees. 214 and 306 of ERISA, and sees. 72, 219, 401, 402, and 415 of the Code Present Law tdividual retirement accounts and annuities The individual retirement savings provisions of the Code were riginally enacted in ERISA to provide a tax-favored retirement ivings arrangement to individuals who were not covered under a aalified plan or a governmental plan maintained by the employer, hose who were active participants in employer plans were not ermitted to make deductible IRA contributions.


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