The House of Representatives has passed a bill that will make it easier for charities and cooperatives to continue to pool pension plans for their employees.
The House unanimously voted on Monday to pass the Cooperative and Small Employer Charity Pension Flexibility Act of 2013, which will now go to the desk of President Barack Obama. The Senate passed the bill in January.
The act codifies a temporary exemption of the Pension Protection Act of 2006 that allows charities and cooperative associations to form multiple employer pension plans known as CSEC plans.
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