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1534979
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1976/01/02 - President
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1534979
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document
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1976/01/02 - President
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James M. Cannon Files (Ford Administration)
James Cannon's Meetings Files
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Pension trusts
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1976-01-31
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1976
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1976-01-01
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1976
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Digitized from Box 55 of the James M. Cannon Files at the Gerald R. Ford Presidential Library
The original documents are located in Box 57, folder "1976/01/02 - President" of the James
M. Cannon Files at the Gerald R. Ford Presidential Library.
Copyright Notice
The copyright law of the United States (Title 17, United States Code) governs the making of
photocopies or other reproductions of copyrighted material. Gerald Ford donated to the United
States of America his copyrights in all of his unpublished writings in National Archives collections.
Works prepared by U.S. Government employees as part of their official duties are in the public
domain. The copyrights to materials written by other individuals or organizations are presumed to
remain with them. If you think any of the information displayed in the PDF is subject to a valid
copyright claim, please contact the Gerald R. Ford Presidential Library.
Digitized from Box 55 of the James M. Cannon Files at the Gerald R. Ford Presidential Library
BUDGET MEETING WITH THE PRESIDENT
3:30 p.m.
January 2, 1976
Oval Office
1) Drug
2) Illegal Alima
GERALD FORD NEBRARY
Table 1
Estimates of Retirement Plans 1975
Number of Plans
Number of Participants
Revenue Loss
Total Assets
(millions)
($million)
($billion)
Employer Pension Plans
420,000
27.0
$4,100
Profit Sharing Plans
310,000
9.0
1,350
Stock Bonus (other than
ESOP) Plans
7,250
0.4
40
$181.6 overall
ESOP Plans
250
0.1
10²/
(Insured and
non-insured
Total Employer Plans
737,500
36.5¹/
$5,500
plans)
Keogh Plans
500,000
.5
$ 450
Individual Retirement
Accounts
1,300,000
1.3
300
Total Individual Plans
1,800,000
1.8
$ 750
Proposed BSOP
N.A.
2.1 to 2.43/
3/
$360 - $1,500
Office of the Secretary of the Treasury
January 2, 1976
Office of Tax Analysis
1/
Total about 32 million after allowance for dual coverage.
2/
Estimate excludes the cost of the additional 1 percent investment tay credit that may be claimed
by employers investing in qualified ESOP plans under provisions of the Tax Reduction Act of 1975.
3/
Number of participants and revenue loss would vary depending on income phase-out and maximum contribution
limit adopted.
LIBRARY GERALD GERALD'R FORD
Table 2
Estimates of Retirement Plans 1975
1/
Maximum annual
Source of
2/
Eligibility to
Type of Plan
contribution
contribution
participate 3/
Employer Pension Plans
R
E and W
PC
Lesser of $25,000
Profit Sharing Plans
R or S
or 25% of earnings
E
PC
(15% of earnings
Stock Bonus (other than
R or S
for profit sharing)
E
PC
ESOP) Plans
ESOP Plans
R or S
E
PC
Keogh Plans
R
Lesser of $7,500
or 15% of earnings
SE
SE
Individual Retirement
Accounts
R
Lesser of $1,500
or 15% of earnings
w
SE and WPC
Proposed BSOP
S
Lesser of $1,500
or 15% of earnings
E and W
SE and WPC
Office of the Secretary of the Treasury
January 2, 1976
Office of Tay Analysis
1/ R = Retirement, S = Savings
2/ E = Employer contribution, W = Employee contribution, SE = Self-employed
3/ PC = Employer plan coverage
WPC = Without plan coverage
SE = Self-employed
FORD is 076839 LIBRARY