501(c)(18)

501(c)(18) is an Internal Revenue Service (IRS) tax exemption status that applies to a special class of employee pension trusts created before June 25, 1959, and authorized to provide pension and retirement benefits. These trusts and any assets must be funded solely by member contributions. A 501(c)(18) trust is permitted to undergo modifications as long as they are not "fundamental changes in the character of the trust or in the character of the beneficiaries."

501(c)(18) entities may not use funds for any purpose other than the payment of benefits. The Code of Federal Regulations states that they must also refrain from practicing discrimination in the determination of benefits and must implement a benefits schedule based on objective standards.

Examples

• Inter-Local Pension Fund of the Graphic Communications Conference of the International Brotherhood of Teamsters (Carol Stream, Ill.)

See also

• 501(c)
• Internal Revenue Service
• Nonprofit organization

External links

• Section 501 of the IRS code