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all (ii) has not the right under the provisions of the plan or system or policy of insurance providing for such death benefit, to assign such benefit, or to receive a cash consideration in lieu of such benefit either upon his withdrawal from the plan or system providing for such benefit or upon termination of such plan or system or policy of insurance or of his employment with such an employer;

2. The payment by an employer (without deduction from the remuneration of the employee), (A) of the tax imposed upon any pilot under section 1550 of the Internal Revenue Code, or (B) of any payment required from a pilot under a state unemployment compensation law;

3. Dismissal payments which the employer is not legally required to make; or

4. Any remuneration paid to an individual prior to January 1, 1948.

"(f) Person--The term "person" means an individual, a partnership, an association, a joint stock company, or a corporation.

"SECTION 1577. DEDUCTIONS AS CONSTRUCTIVE PAYMENTS.

"Whenever under this subchapter or any Act of Congress, or under the law of any State, an employer is required or permitted to deduct any amount from the remuneration of a pilot and to pay the amount deducted to the United States, a State, or any political subdivision thereof, then for the purposes of this subchapter the amount so deducted shall be considered to have been paid to the pilot at the time of such deduction.

"SECTION 1578. RULES AND REGULATIONS.

"The Secretary shall make and publish such rules and regulations, not inconsistent with this subchapter, as may be necessary to the efficient administration of the functions with which he is charged under this subchapter. The Commissioner, with the approval of the Secretary, shall make and publish rules and regulations for the enforcement of this subchapter.

"SECTION 1579. OTHER LAWS APPLICABLE.

"All provisions of law, including penalties, applicable with respect to any tax imposed by section 2700 or section 1800, and the provisions of section 3661, shall, insofar as applicable and not inconsistent with the provisions of this subchapter, be applicable with respect to the taxes imposed by this subchapter.

"SECTION 1580. SHORT TITLE.

"This subchapter may be cited as the'Air Line Pilots Retirement Contributions Act'."

Sec. 202. The amendment to the Internal Revenue Code made by section 20, shall be effective on July 1, 1949.

April 16, 1947. Murray W. Latimer