pension contribution rate
Defined in 1 place of the United States Code.
The term “pension contribution rate” means the contribution rate that the employer is obligated to pay on behalf of its employees under the terms of a collective bargaining agreement for benefits under a defined benefit plan under such agreement, as such rate is applied to contribution base units (as defined by section 4001(a)(11) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1301(a)(11)).1
Source
- 2021–present26 U.S.C. § 3131Internal Revenue Code · Credit for paid sick leave · for purposes of this section