text:
Q: Mailchimp API v3.0 add email to list via NodeJS http I'm using NodeJS to call the new MailChimp 3.0 API in order to add an email to a list.  While I can get it working via POSTman, I'm having a hard time with Node's http:
var http = require('http');

var subscriber = JSON.stringify({
    "email_address": "test@test.com",
    "status": "subscribed",
    "merge_fields": {
        "FNAME": "Tester",
        "LNAME": "Testerson"
    }
});

var options = {
    host: 'https://us11.api.mailchimp.com',
    path: '/3.0/lists/<myListID>/members',
    method: 'POST',
    headers: {
        'Authorization': 'randomUser myApiKey',
        'Content-Type': 'application/json',
        'Content-Length': subscriber.length
    }
}

var hreq = http.request(options, function (hres) {
    console.log('STATUS CODE: ' + hres.statusCode);
    console.log('HEADERS: ' + JSON.stringify(hres.headers));
    hres.setEncoding('utf8');

    hres.on('data', function (chunk) {
            console.log('\n\n===========CHUNK===============')
            console.log(chunk);
            res.send(chunk);
    });

    hres.on('end', function(res) {
            console.log('\n\n=========RESPONSE END===============');
    });

    hres.on('error', function (e) {
            console.log('ERROR: ' + e.message);
    });
});

hreq.write(subscriber);
hreq.end();

Rather than getting even some sort of JSON error from Mailchimp, however, I'm getting HTML:

        400 Bad Request

            400 Bad Request
nginx

Is it clear at all what I"m doing wrong here?  It seems pretty simple, yet nothing I've tried seems to work.
A few additional thoughts:

*

*While http's options have an "auth" property, I'm using the headers instead to ensure the authorization is sent without the encoding (as mentioned here).  Still, I've also tried with the "auth" property, and I get the same result.

*I'm actually making this call from inside an ExpressJS API (my client calls the Express API, that calls the above code - I've edited all that out of this example for simplicity).  That's why my variables are "hres" and "hreq", to distinguish them from the "res" and "req" in Express.  Is there any reason that could be the issue?

*As mentioned above, I am able to get successful results when using POSTman, so I at least know my host, path, list ID, and API key are correct.

A: It turns out this had a very simple solution: the "host" property of the options object needed to have only the domain name.  IE, remove the "https://" protocol:
var options = {
    host: 'us11.api.mailchimp.com',
    path: '/3.0/lists/<myListID>/members',
    method: 'POST',
    headers: {
        'Authorization': 'randomUser myApiKey',
        'Content-Type': 'application/json',
        'Content-Length': subscriber.length
    }
}

A: Try this , its working fine for Me.
var request = require('request');

function mailchimpAddListCall(email, cb){
var subscriber = JSON.stringify({
        "email_address": email,
        "status": "subscribed"
    });

request({
             method: 'POST',
             url: 'https://us13.api.mailchimp.com/3.0/lists/<Your list id>/members',
             body: subscriber,
             headers:
                    {
                        Authorization: 'apikey <your Mailchimp API key>',
                        'Content-Type': 'application/json'
                    }

         },
          function(error, response, body){
            if(error) {
                cb(err, null)
            } else {

                var bodyObj = JSON.parse(body);
                console.log(bodyObj.status);
                if(bodyObj.status === 400){
                    cb(bodyObj.detail, null);
                }
                var bodyObj = JSON.parse(body);
                cb(null, bodyObj.email_address +" added to list.");
            }
        });
}

request is a node module, that you'll need to install into your package.json. npm install --save request

A: You can use the auth properties just fine with API v3, but if you're getting a 400, that's not the problem. The body of the 400 Error should provide more detailed information, but one thing that jumps out immediately: MailChimp doesn't allow fake or fake-looking emails to be added to lists (like test@test.com), so I'd try a real address and see if that works for you.

redpajama_set_name: RedPajamaStackExchange


text:
Masks recommended for some in Northeast Wisconsin counties with elevated Covid community level
Brown, Winnebago, Fond du Lac, Shawano and Menominee Counties all have been upgraded to medium community levels by the CDC.
GREEN BAY, Wis. (NBC 26) — As of Monday, Wisconsin registered its highest seven-day average of new confirmed Coronavirus cases since February.
"We're now in another hopefully small-to-moderate-sized surge of the disease," DHS chief medical officer Dr. Ryan Westergaard said.
The CDC has now labeled seven Wisconsin counties in the high Covid community level; none of those are in Northeast Wisconsin. But for people in those seven counties, the Department of Health Services is asking people to wear masks again indoors.
CDC: Brown County's COVID-19 level is at 'medium risk'
"People should be aware that the risk of getting exposed to the virus is much higher than it was a couple of months ago," Westergaard said.
And in Northeast Wisconsin, Brown, Winnebago, Fond du Lac, Shawano and Menominee Counties all have been upgraded to medium community levels by the CDC.
For those counties: "The recommendation for people who are high-risk for severe Covid-19 — particularly people who might be elderly or immunocompromised — the recommendation to start masking does come back again," Bellin Health Emergency Medicine Dr. Brad Burmeister said.
The DHS reports Brown County's current seven-day average of confirmed cases is at 71. That number hit 733 in early January.
"Only three people in the last 24 hours were in the intensive care unit with Covid-19," Burmeister said, according to WHA Northeast Region statistics. "And during the peak of the pandemic, it was many fold more than that."
Dr. Brian Temple at Aurora Medical Center says there hasn't been an influx of Covid patients around Oshkosh. As far as cases of Covid, he says some might not be reported.
"You have to remember that a lot of people are doing home tests," the infectious disease physician said. "So not everyone is going to show. Previously everyone was showing up to get tested."
While state health officials do warn of a more contagious disease, there are now tools like anti-viral medication
"We should feel empowered that, if and when we get exposed to the virus, there are things we can do to keep ourselves safe," Westergaard said.
As of Monday, according to the DHS, Winnebago County's seven-day average of confirmed cases sits at 59. In Fond du Lac, that number is at 35. And in Shawano County, the seven-day average of confirmed cases is just 13.

redpajama_set_name: RedPajamaCommonCrawl


text:
using Avalonia.Controls;
using Avalonia.Markup.Xaml;

namespace RoslynPad.Roslyn.Resources
{
    public class Glyphs : ResourceDictionary
    {
        public Glyphs()
        {
            AvaloniaXamlLoader.Load(this);
        }
    }
}

redpajama_set_name: RedPajamaGithub


"Write me," my novel begged me.
"How?" I begged it back.
What others feel and do?
They are not me, though I created them.
"These people have no claim on me.
They owe me their existence.
"I can't," I answered back.
"I haven't the words my people deserve.
I cannot do them the justice they so greedily beg.
They are not me, and I cannot live their lives.
And this time I complied.
I chronicled times I've never lived and places I've never seen.
I met so many people I had never known.
They are not me, but for a time I knew them.
I am not them, but for a while they knew me.


text:
North Carolina A&T's Broadway Named Eddie Robinson Award Finalist
GREENSBORO, N.C. – before leading his team into the MEAC championship game on Saturday, North Carolina A&T head coach Rod Broadway was named to the coveted Eddie Robinson finalists list for NCAA FCS coach of the year on Tuesday.
STATS FCS released a fabulous list of 15 finalists with at least one representative from all 13 FCS conferences. STATS will present the esteemed Robinson Award at the national awards banquet on the eve of the NCAA Division I FCS Championship Game on Jan. 6 in Frisco, Texas. Named for legendary coach of Grambling State, past winners of the Robinson Award include Jim Tressel and Houston Nutt. [easyazon_infoblock align="right" cart="y" identifier="B00IUCJI3A" locale="US" tag="hbcusports-20″]
Broadway has his team 9-1 on the season and 7-0 in the MEAC. The Aggies will play North Carolina Central for the conference championship 2 p.m., Saturday at O'Kelly-Riddick Stadium. Broadway is looking to lead the Aggies to their first undefeated season in the MEAC in 17 years. If the Aggies win, Broadway will lead the school to just its sixth undefeated season in conference play dating back to the Aggies days as a member of the CIAA.
During the 2016 season, Broadway has led the program to its first-ever win over a Division I-FBS win with a 39-36 four-overtime win over Ken State on Sept. 10. He also had two players – running back Tarik Cohen and linebacker Jeremy Taylor – win STATS FCS National Player of the Week at various times. In addition, the Aggies nine wins have been by an average score of 25.8 points.
Broadway is the second Aggie on an FCS STATS finalists list, joining Cohen who is a candidate for the Walter Payton Award for offensive player of the year.
A national panel of over 150 sports information and media relations directors, broadcasters, writers and other dignitaries will select the STATS FCS Eddie Robinson Award following the regular season. Also this season, STATS will present the Walter Payton Award (FCS offensive player of the year), the Buck Buchanan Award (FCS defensive player of the year), the Jerry Rice Award (FCS freshman player of the year) and the Doris Robinson FCS Scholar-Athlete of the Year.
Courtesy: NCA&T Athletics
Previous articleListen: MEAC Football Coaches Teleconference – Nov. 15
Next articleSouthern University Cited For Lack of Institutional Control in Latest NCAA Report
Tennessee State names Group of 5 assistant as next offensive coordinator
WSSU linebacker withdraws from HBCU Legacy Bowl to enter transfer portal
Report: Bluefield State College petitioning for CIAA membership


Big data solutions typically involve one or more of the following types of workload: Batch processing of big data sources at rest. Real-time processing of big data in motion. Interactive exploration of big data. Predictive analytics and machine learning.
Most big data architectures include some or all of the following components: Data sources: All big data solutions start with one or more data sources. Examples include: Application data stores, such as relational databases. Static files produced by applications, such as web server log files. Real-time data sources, such as IoT devices. Data storage: Data for batch processing operations is typically stored in a distributed file store that can hold high volumes of large files in various formats. This kind of store is often called a data lake. Batch processing: Because the data sets are so large, often a big data solution must process data files using long-running batch jobs to filter, aggregate, and otherwise prepare the data for analysis. Usually these jobs involve reading source files, processing them, and writing the output to new files. Options include running U-SQL jobs in Azure Data Lake Analytics, using Hive, Pig, or custom Map/Reduce jobs in an HDInsight Hadoop cluster, or using Java, Scala, or Python programs in an HDInsight Spark cluster. Real-time message ingestion: If the solution includes real-time sources, the architecture must include a way to capture and store real-time messages for stream processing. This might be a simple data store, where incoming messages are dropped into a folder for processing. However, many solutions need a message ingestion store to act as a buffer for messages, and to support scale-out processing, reliable delivery, and other message queuing semantics. Options include Azure Event Hubs, and Kafka. Stream processing: After capturing real-time messages, the solution must process them by filtering, aggregating, and otherwise preparing the data for analysis. The processed stream data is then written to an output sink. Stream Analytics provides a managed stream processing service based on perpetually running SQL queries that operate on unbounded streams. You can also use open source Apache streaming technologies like Storm and Spark Streaming in a cluster. Analytical data store: Many big data solutions prepare data for analysis and then serve the processed data in a structured format that can be queried using analytical tools. The analytical data store used to serve these queries can be a Kimball-style relational data warehouse, as seen in most traditional business intelligence (BI) solutions. Alternatively, the data could be presented through a low-latency NoSQL technology such as HBase, or an interactive Hive database that provides a metadata abstraction over data files in the distributed data store. Analysis and reporting: The goal of most big data solutions is to provide insights into the data through analysis and reporting. To empower users to analyze the data, the architecture may include a data modeling layer, such as a multidimensional OLAP cube or tabular data model. It might also support self-service BI, using the modeling and visualization technologies in Microsoft Power BI or Microsoft Excel. Analysis and reporting can also take the form of interactive data exploration by data scientists or data analysts. For these scenarios, many services support analytical notebooks, such as Jupyter, enabling these users to leverage their existing skills with Python or R. For large-scale data exploration, you can use R Server, either standalone or with Spark. Orchestration: Most big data solutions consist of repeated data processing operations, encapsulated in workflows, that transform source data, move data between multiple sources and sinks, load the processed data into an analytical data store, or push the results straight to a report or dashboard. To automate these workflows, you can use an orchestration technology such as a Data Factory or Apache Oozie and Sqoop.
Technology choices. You can mix and match Azure managed services and Apache technologies in HDInsight clusters, to capitalize on existing skills or technology investments. Performance through parallelism. Big data solutions take advantage of parallelism, enabling high-performance solutions that scale to large volumes of data. Elastic scale. All of the components in the big data architecture support scale-out provisioning, so that you can adjust your solution to small or large workloads, and pay only for the resources that you use. Interoperability with existing solutions. The components of the big data architecture are also used for IoT processing and enterprise BI solutions, enabling you to create an integrated solution across data workloads.
Complexity. Big data solutions can be extremely complex, with numerous components to handle data ingestion from multiple data sources. It can be challenging to build, test, and troubleshoot big data processes. Moreover, there may be a large number of configuration settings across multiple systems that must be used in order to optimize performance. Skillset. Many big data technologies are highly specialized, and use frameworks and languages that are not typical of more general application architectures. On the other hand, big data technologies are evolving new APIs that build on more established languages. For example, the U-SQL language in Azure Data Lake Analytics is based on a combination of Transact-SQL and C#. Similarly, SQL-based APIs are available for Hive, HBase, and Spark. Technology maturity. Many of the technologies used in big data are evolving. While core Hadoop technologies such as Hive and Pig have stabilized, emerging technologies such as Spark introduce extensive changes and enhancements with each new release. Managed services such as Azure Data Lake Analytics and Azure Data Factory are relatively young, compared with other Azure services, and will likely evolve over time. Security. Big data solutions usually rely on storing all static data in a centralized data lake. Securing access to this data can be challenging, especially when the data must be ingested and consumed by multiple applications and platforms.
The natutal evolution of servie oriented architectures.
Design patterns for future data platforms.
This is C X-Stream a pioneering research and software engineering company supported by some of the best minds in best minds in the industry. Powered by modern open source technology, some of technology is actually Free! to license for personal use or some commercial projects – with socially redemable applications!
© C X-Stream. All rights reserved.


This 3D simulation introduces you to the experiences of gas warfare in the trenches through interviews with veterans, contemporary photographs, and poetry. You will need to download the free Unity3D Web Player to experience the simulation.
Created and made available as part of the 'World War One: Continuations and Beginnings' project, http://ww1centenary.oucs.ox.ac.uk/.
Cite:Under a green sea – experiences of gas warfare (3D simulation) by at http://ww1centenary.oucs.ox.ac.uk/body-and-mind/under-a-green-sea-experiences-of-gas-warfare/ via http://writersinspire.org/content/under-green-sea-%E2%80%93-experiences-gas-warfare-3d-simulation. Accessed on Tuesday, April 23, 2019.
If reusing this resource please attribute as follows: Under a green sea – experiences of gas warfare (3D simulation) (http://ww1centenary.oucs.ox.ac.uk/body-and-mind/under-a-green-sea-experiences-of-gas-warfare/) by , licensed as Creative Commons BY-NC-SA (2.0 UK).


An 11 x 17" poster for Floyd's 'Welcome Home Party' after his bronze medal performance at the 1996 Olympics. A 16 year old Floyd signed the poster for the Charlevoix Club in Grand Rapids, Michigan (his hometown) adding "Thanx". This is a scarce poster and very early Mayweather signature from before his professional career had even commenced. A great item from the amateur career of the finest pro-boxer in the current era. In very good condition with minor creasing.


Online and in-house items originally purchased from Leon Megé are acceptable for repair and cleaning. All repairs are done without delay, and with minimum waiting time.
Appointments are required for routine cleaning and inspections, as well as for repairs.
We recommend to have your jewelry inspected every 6 to 10 month so that we can check for any loose stones and perform the necessary repairs before it's too late.
Simple cleaning and inspection is done free of charge and usually is done while you wait (appointment is needed).
Few days before the wedding you might want to bring your engagement ring to be cleaned and re-polished. It is done free of charge.
That way the ring will be in a pristine condition when the wedding pictures are taken.
Please follow our guidelines for cleaning your jewelry at home and use your head when wearing fine jewelry. Read about jewelry etiquette when you get a chance.
Regardless of the warranty satus, a repair is attempted to be completed on the same day. An early morning appointment might be necessary.
Same day repairs are not available on Fridays or on the last working day before a vacation or holiday.
Make sure to inform us of the type of repair needed. The time required to perform a repair cannot be determined precisely until we are able to examine the piece and assess the damage.
There is a relatively small probability of some issue arising during the repair process.
When it does we will not be responsible for any loss or damage caused by the repair.
We will not ask for customer's conscent prior to performing a repair costing less than $100.
Work will not start until you give us a green light.
Upon the completion, cleaning, and inspection by our quality control team, the item will be sent back to you via a carrier of our choice.
A fee will be charged for all types of alterations.
Any substantial alteration will void the warranty.
Leon Megé jewelry is designed with excellent craftsmanship and professionalism.
Any supplements and modifications will alter the original aesthetics of the item.
Any unauthorized alteration or enhancement of a genuine Leon Mege piece will, in addition to voiding the warranty, render it fake.
A second hand sale of a Leon Megé piece(s) will cause it to be removed from the catalogue of signed pieces and will void the warranty.
We reserve the right to refuse any repair for any reason.


A free service to help Portland, Oregon area writers connect with readers. Also, local links of interest to writers and a newsletter.
A forum for professional writers including information, articles, links for medical and science writers.
A Christian literary organization that promotes the works of its members. Site offers information on members, vendors, publications, workshops and seminars, and a forum.
Promotes writers and the craft of writing. We normally meet every Monday at 7:30 PM on the second floor of Borders Bookstore in Metairie, LA.
Chapter of the Romance Writers of America, serves members along the Red River Valley and Texoma Region of North Texas and Southern Oklahoma.
Seattle members organization providing support, advice, and a variety of programs for writers and the local community.
An organization for writers of novel length fiction in the Rocky Mountain region.
The RTWG offers information and advice about writing and writers as well as independent sites where beginning writers have the best chance of being published.
Countywide Christian writers group in the United States. For new and experienced writers to become published authors. Hosts an annual conference in the fall and monthly critique group meetings.
To promote, support, and encourage writers; to seek and provide information about marketing and the local writing scene; to assist with the local writer's needs for assignments and editors who seek writers.
Posts writing and writing related events in San Diego County. A collection of San Diego's talented writers, editors and small press publishing houses. Our calendar of events will keep you informed of all the best local events.
A writer's club located in Melbourne, Florida. The club publishes an anthology each year in October. Membership includes novices and published authors.
Professional organization of over 500 women and men discussing writing, editing, career growth. Our membership is mostly comprised of women writers and editors in Seattle, Washington and Puget Sound.
A Chicago-based community of writers, playwrights, poets, and short story writers who meet to discuss their work.
Members of the Society have joined together in the common pursuit of the highest standards of economic journalism, through both individual and collective efforts.


text:
This website uses cookies. By using this website and agreeing to this policy, you consent to New Look Loans's use of cookies in accordance with the terms of this policy.
Cookies are files sent by web servers to web browsers, and stored by the web browsers.
The information is then sent back to the server each time the browser requests a page from the server.
There are two main kinds of cookies: session cookies and persistent cookies. Session cookies are deleted from your computer when you close your browser, whereas persistent cookies remain stored on your computer until deleted, or until they reach their expiry date.
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Blocking cookies will have a negative impact upon the usability of some websites.


The Tournament course is a former Shell Houston Open venue and this Robert von Haage and Bruce Devlin-designed layout was the first of the four 18-hole courses to appear at The Woodlands Country Club in 1978.
The most striking thing about the Woodlands Tournament course to me are some of the green complexes. The 11th has one of the most fun greens I've ever played, with a massive knob right in the center that gives the approach shot in a lot of character. The 14th green has a good one as well; one that can produce possible holes in one when the hole is cut up front. I found that out personally, when I saw my ball taking the slope and looking like it had potential to go in, but ultimately I "settled" for birdie.
With only one or two exceptions for each, I think the holes featuring water are vastly superior to those that do not. Strategy and shot values are much more at stake with water in play here. Those that are dry are mostly straight out in front of you and don't require a great amount of thought; grip and rip kind of holes, mostly. 17 and 18 are two great finishing holes (water comes into play on both, for what it's worth) that can produce a wide variety of outcomes. Really good to settle a professional event, which has been showcased at the Insperity for the Champions Tour, and possibly the PGA Tour's Houston Open down the road.


Boys' Brigade & Girls' Assoc.
22nd Birthday Celebration We've just updated the Craft Group diary entry to include details of this coming week's special meeting.
We've just posted the spring programme for the Water Eaton Chuch Centre Craft Group. You can find the event details here.
Christmas is just around the corner and so are our Christmas Services. 16th December – Junior Church Christmas Service 23rd December – Carols by Candlelight 25th December – Christmas Day Shared Celebration 30th December – Shared Worship Click through to find out the details.
Advent is here and Christmas is just around the corner! If you want to prepare for the big day then please join us, in the run up, over the next 3 Sundays. Normal times apply, that is 10.55 to 12.15.
As we meet for worship tomorrow please remember to arrive a little earlier as we will be observing two minutes silence at 11 o'clock.
Copyright © 2019 Spurgeon Baptist Church.


text:
Index » Subtitle A » Chapter 1 » Subchapter D » I.R.C. 409
I.R.C. 409
Qualifications for tax credit employee stock ownership plans
§ 408A « Browse » § 409A
I.R.C. § 409. Qualifications for tax credit employee stock ownership plans
(a) Tax credit employee stock ownership plan defined
Except as otherwise provided in this title, for purposes of this title, the term "tax credit employee stock ownership plan" means a defined contribution plan which—
(1) meets the requirements of section 401(a),
(2) is designed to invest primarily in employer securities, and
(3) meets the requirements of subsections (b), (c), (d), (e), (f), (g), (h), and (o) of this section.
(b) Required allocation of employer securities
(1) In general
A plan meets the requirements of this subsection if—
(A) the plan provides for the allocation for the plan year of all employer securities transferred to it or purchased by it (because of the requirements of section 41(c)(1)(B)) to the accounts of all participants who are entitled to share in such allocation, and
(B) for the plan year the allocation to each participant so entitled is an amount which bears substantially the same proportion to the amount of all such securities allocated to all such participants in the plan for that year as the amount of compensation paid to such participant during that year bears to the compensation paid to all such participants during that year.
(2) Compensation in excess of $100,000 disregarded
For purposes of paragraph (1), compensation of any participant in excess of the first $100,000 per year shall be disregarded.
(3) Determination of compensation
For purposes of this subsection, the amount of compensation paid to a participant for any period is the amount of such participant's compensation (within the meaning of section 415(c)(3)) for such period.
(4) Suspension of allocation in certain cases
Notwithstanding paragraph (1), the allocation to the account of any participant which is attributable to the basic employee plan credit or the credit allowed under section 41 (relating to the employee stock ownership credit) may be extended over whatever period may be necessary to comply with the requirements of section 415.
(c) Participants must have nonforfeitable rights
A plan meets the requirements of this subsection only if it provides that each participant has a nonforfeitable right to any employer security allocated to his account.
(d) Employer securities must stay in the plan
A plan meets the requirements of this subsection only if it provides that no employer security allocated to a participant's account under subsection (b) (or allocated to a participant's account in connection with matched employer and employee contributions) may be distributed from that account before the end of the 84th month beginning after the month in which the security is allocated to the account. To the extent provided in the plan, the preceding sentence shall not apply in the case of—
(1) death, disability, separation from service, or termination of the plan;
(2) a transfer of a participant to the employment of an acquiring employer from the employment of the selling corporation in the case of a sale to the acquiring corporation of substantially all of the assets used by the selling corporation in a trade or business conducted by the selling corporation, or
(3) with respect to the stock of a selling corporation, a disposition of such selling corporation's interest in a subsidiary when the participant continues employment with such subsidiary.
This subsection shall not apply to any distribution required under section 401(a)(9) or to any distribution or reinvestment required under section 401(a)(28).
(e) Voting rights
A plan meets the requirements of this subsection if it meets the requirements of paragraph (2) or (3), whichever is applicable.
(2) Requirements where employer has a registration-type class of securities
If the employer has a registration-type class of securities, the plan meets the requirements of this paragraph only if each participant or beneficiary in the plan is entitled to direct the plan as to the manner in which securities of the employer which are entitled to vote and are allocated to the account of such participant or beneficiary are to be voted.
(3) Requirement for other employers
If the employer does not have a registration-type class of securities, the plan meets the requirements of this paragraph only if each participant or beneficiary in the plan is entitled to direct the plan as to the manner in which voting rights under securities of the employer which are allocated to the account of such participant or beneficiary are to be exercised with respect to any corporate matter which involves the voting of such shares with respect to the approval or disapproval of any corporate merger or consolidation, recapitalization, reclassification, liquidation, dissolution, sale of substantially all assets of a trade or business, or such similar transaction as the Secretary may prescribe in regulations.
(4) Registration-type class of securities defined
For purposes of this subsection, the term, "registration-type class of securities" means—
(A) a class of securities required to be registered under section 12 of the Securities Exchange Act of 1934, and
(B) a class of securities which would be required to be so registered except for the exemption from registration provided in subsection (g)(2)(H) of such section 12.
(5) 1 vote per participant
A plan meets the requirements of paragraph (3) with respect to an issue if—
(A) the plan permits each participant 1 vote with respect to such issue, and
(B) the trustee votes the shares held by the plan in the proportion determined after application of subparagraph (A).
(f) Plan must be established before employer's due date
A plan meets the requirements of this subsection only if it is established on or before the due date (including any extension of such date) for the filing of the employer's tax return for the first taxable year of the employer for which an employee plan credit is claimed by the employer with respect to the plan.
(2) Special rule for first year
A plan which otherwise meets the requirements of this section shall not be considered to have failed to meet the requirements of section 401(a) merely because it was not established by the close of the first taxable year of the employer for which an employee plan credit is claimed by the employer with respect to the plan.
(g) Transferred amounts must stay in plan even though investment credit is redetermined or recaptured
A plan meets the requirement of this subsection only if it provides that amounts which are transferred to the plan (because of the requirements of section 48(n)(1) or 41(c)(1)(B)) shall remain in the plan (and, if allocated under the plan, shall remain so allocated) even though part or all of the employee plan credit or the credit allowed under section 41 (relating to employee stock ownership credit) is recaptured or redetermined. For purposes of the preceding sentence, the references to section 48(n)(1) and the employee plan credit shall refer to such section and credit as in effect before the enactment of the Tax Reform Act of 1984.
(h) Right to demand employer securities; put option
A plan meets the requirements of this subsection if a participant who is entitled to a distribution from the plan—
(A) has a right to demand that his benefits be distributed in the form of employer securities, and
(B) if the employer securities are not readily tradable on an established market, has a right to require that the employer repurchase employer securities under a fair valuation formula.
(2) Plan may distribute cash in certain cases
(A) In general
A plan which otherwise meets the requirements of this subsection or of section 4975(e)(7) shall not be considered to have failed to meet the requirements of section 401(a) merely because under the plan the benefits may be distributed in cash or in the form of employer securities.
(B) Exception for certain plans restricted from distributing securities
(i) In general
A plan to which this subparagraph applies shall not be treated as failing to meet the requirements of this subsection or section 401(a) merely because it does not permit a participant to exercise the right described in paragraph (1)(A) if such plan provides that the participant entitled to a distribution has a right to receive the distribution in cash, except that such plan may distribute employer securities subject to a requirement that such securities may be resold to the employer under terms which meet the requirements of paragraph (1)(B).
(ii) Applicable plans
This subparagraph shall apply to a plan which otherwise meets the requirements of this subsection or section 4975(e)(7) and which is established and maintained by—
(I) an employer whose charter or bylaws restrict the ownership of substantially all outstanding employer securities to employees or to a trust described in section 401(a), or
(II) an S corporation.
(3) Special rule for banks
In the case of a plan established and maintained by a bank (as defined in section 581) which is prohibited by law from redeeming or purchasing its own securities, the requirements of paragraph (1)(B) shall not apply if the plan provides that participants entitled to a distribution from the plan shall have a right to receive a distribution in cash.
(4) Put option period
An employer shall be deemed to satisfy the requirements of paragraph (1)(B) if it provides a put option for a period of at least 60 days following the date of distribution of stock of the employer and, if the put option is not exercised within such 60-day period, for an additional period of at least 60 days in the following plan year (as provided in regulations promulgated by the Secretary).
(5) Payment requirement for total distribution
If an employer is required to repurchase employer securities which are distributed to the employee as part of a total distribution, the requirements of paragraph (1)(B) shall be treated as met if—
(A) the amount to be paid for the employer securities is paid in substantially equal periodic payments (not less frequently than annually) over a period beginning not later than 30 days after the exercise of the put option described in paragraph (4) and not exceeding 5 years, and
(B) there is adequate security provided and reasonable interest paid on the unpaid amounts referred to in subparagraph (A).
For purposes of this paragraph, the term "total distribution" means the distribution within 1 taxable year to the recipient of the balance to the credit of the recipient's account.
(6) Payment requirement for installment distributions
If an employer is required to repurchase employer securities as part of an installment distribution, the requirements of paragraph (1)(B) shall be treated as met if the amount to be paid for the employer securities is paid not later than 30 days after the exercise of the put option described in paragraph (4).
(7) Exception where employee elected diversification
Paragraph (1)(A) shall not apply with respect to the portion of the participant's account which the employee elected to have reinvested under section 401(a)(28)(B) or subparagraph (B) or (C) of section 401(a)(35).
(i) Reimbursement for expenses of establishing and administering plan
A plan which otherwise meets the requirements of this section shall not be treated as failing to meet such requirements merely because it provides that—
(1) Expenses of establishing plan
As reimbursement for the expenses of establishing the plan, the employer may withhold from amounts due the plan for the taxable year for which the plan is established (or the plan may pay) so much of the amounts paid or incurred in connection with the establishment of the plan as does not exceed the sum of—
(A) 10 percent of the first $100,000 which the employer is required to transfer to the plan for that taxable year under section 41(c)(1)(B), and
(B) 5 percent of any amount so required to be transferred in excess of the first $100,000; and
(2) Administrative expenses
As reimbursement for the expenses of administering the plan, the employer may withhold from amounts due the plan (or the plan may pay) so much of the amounts paid or incurred during the taxable year as expenses of administering the plan as does not exceed the lesser of—
(A) the sum of—
(i) 10 percent of the first $100,000 of the dividends paid to the plan with respect to stock of the employer during the plan year ending with or within the employer's taxable year, and
(ii) 5 percent of the amount of such dividends in excess of $100,000 or
(B) $100,000.
(j) Conditional contributions to the plan
A plan which otherwise meets the requirements of this section shall not be treated as failing to satisfy such requirements (or as failing to satisfy the requirements of section 401(a) of this title or of section 403(c)(1) of the Employee Retirement Income Security Act of 1974) merely because of the return of a contribution (or a provision permitting such a return) if—
(1) the contribution to the plan is conditioned on a determination by the Secretary that such plan meets the requirements of this section,
(2) the application for a determination described in paragraph (1) is filed with the Secretary not later than 90 days after the date on which an employee plan credit is claimed, and
(3) the contribution is returned within 1 year after the date on which the Secretary issues notice to the employer that such plan does not satisfy the requirements of this section.
(k) Requirements relating to certain withdrawals
Notwithstanding any other law or rule of law—
(1) the withdrawal from a plan which otherwise meets the requirements of this section by the employer of an amount contributed for purposes of the matching employee plan credit shall not be considered to make the benefits forfeitable, and
(2) the plan shall not, by reason of such withdrawal, fail to be for the exclusive benefit of participants or their beneficiaries,
if the withdrawn amounts were not matched by employee contributions or were in excess of the limitations of section 415. Any withdrawal described in the preceding sentence shall not be considered to violate the provisions of section 403(c)(1) of the Employee Retirement Income Security Act of 1974. For purposes of this subsection, the reference to the matching employee plan credit shall refer to such credit as in effect before the enactment of the Tax Reform Act of 1984.
(l) Employer securities defined
For purposes of this section—
The term "employer securities" means common stock issued by the employer (or by a corporation which is a member of the same controlled group) which is readily tradable on an established securities market.
(2) Special rule where there is no readily tradable common stock
If there is no common stock which meets the requirements of paragraph (1), the term "employer securities" means common stock issued by the employer (or by a corporation which is a member of the same controlled group) having a combination of voting power and dividend rights equal to or in excess of—
(A) that class of common stock of the employer (or of any other such corporation) having the greatest voting power, and
(B) that class of common stock of the employer (or of any other such corporation) having the greatest dividend rights.
(3) Preferred stock may be issued in certain cases
Noncallable preferred stock shall be treated as employer securities if such stock is convertible at any time into stock which meets the requirements of paragraph (1) or (2) (whichever is applicable) and if such conversion is at a conversion price which (as of the date of the acquisition by the tax credit employee stock ownership plan) is reasonable. For purposes of the preceding sentence, under regulations prescribed by the Secretary, preferred stock shall be treated as noncallable if after the call there will be a reasonable opportunity for a conversion which meets the requirements of the preceding sentence.
(4) Application to controlled group of corporations
For purposes of this subsection, the term "controlled group of corporations" has the meaning given to such term by section 1563(a) (determined without regard to subsections (a)(4) and (e)(3)(C) of section 1563).
(B) Where common parent owns at least 50 percent of first tier subsidiary
For purposes of subparagraph (A), if the common parent owns directly stock possessing at least 50 percent of the voting power of all classes of stock and at least 50 percent of each class of nonvoting stock in a first tier subsidiary, such subsidiary (and all other corporations below it in the chain which would meet the 80 percent test of section 1563(a) if the first tier subsidiary were the common parent) shall be treated as includible corporations.
(C) Where common parent owns 100 percent of first tier subsidiary
For purposes of subparagraph (A), if the common parent owns directly stock possessing all of the voting power of all classes of stock and all of the nonvoting stock, in a first tier subsidiary, and if the first tier subsidiary owns directly stock possessing at least 50 percent of the voting power of all classes of stock, and at least 50 percent of each class of nonvoting stock, in a second tier subsidiary of the common parent, such second tier subsidiary (and all other corporations below it in the chain which would meet the 80 percent test of section 1563(a) if the second tier subsidiary were the common parent) shall be treated as includible corporations.
(5) Nonvoting common stock may be acquired in certain cases
Nonvoting common stock of an employer described in the second sentence of section 401(a)(22) shall be treated as employer securities if an employer has a class of nonvoting common stock outstanding and the specific shares that the plan acquires have been issued and outstanding for at least 24 months.
(m) Nonrecognition of gain or loss on contribution of employer securities to tax credit employee stock ownership plan
No gain or loss shall be recognized to the taxpayer with respect to the transfer of employer securities to a tax credit employee stock ownership plan maintained by the taxpayer to the extent that such transfer is required under section 41(c)(1)(B), or subparagraph (A) or (B) of section 48(n)(1).
(n) Securities received in certain transactions
A plan to which section 1042 applies and an eligible worker-owned cooperative (within the meaning of section 1042(c)) shall provide that no portion of the assets of the plan or cooperative attributable to (or allocable in lieu of) employer securities acquired by the plan or cooperative in a sale to which section 1042 applies may accrue (or be allocated directly or indirectly under any plan of the employer meeting the requirements of section 401(a))—
(A) during the nonallocation period, for the benefit of—
(i) any taxpayer who makes an election under section 1042(a) with respect to employer securities,
(ii) any individual who is related to the taxpayer (within the meaning of section 267(b)), or
(B) for the benefit of any other person who owns (after application of section 318(a)) more than 25 percent of—
(i) any class of outstanding stock of the corporation which issued such employer securities or of any corporation which is a member of the same controlled group of corporations (within the meaning of subsection (l)(4)) as such corporation, or
(ii) the total value of any class of outstanding stock of any such corporation.
For purposes of subparagraph (B), section 318(a) shall be applied without regard to the employee trust exception in paragraph (2)(B)(i).
(2) Failure to meet requirements
If a plan fails to meet the requirements of paragraph (1)—
(A) the plan shall be treated as having distributed to the person described in paragraph (1) the amount allocated to the account of such person in violation of paragraph (1) at the time of such allocation,
(B) the provisions of section 4979A shall apply, and
(C) the statutory period for the assessment of any tax imposed by section 4979A shall not expire before the date which is 3 years from the later of—
(i) the 1st allocation of employer securities in connection with a sale to the plan to which section 1042 applies, or
(ii) the date on which the Secretary is notified of such failure.
(3) Definitions and special rules
For purposes of this subsection—
(A) Lineal descendants
Paragraph (1)(A)(ii) shall not apply to any individual if—
(i) such individual is a lineal descendant of the taxpayer, and
(ii) the aggregate amount allocated to the benefit of all such lineal descendants during the nonallocation period does not exceed more than 5 percent of the employer securities (or amounts allocated in lieu thereof) held by the plan which are attributable to a sale to the plan by any person related to such descendants (within the meaning of section 267(c)(4)) in a transaction to which section 1042 applied.
(B) 25-percent shareholders
A person shall be treated as failing to meet the stock ownership limitation under paragraph (1)(B) if such person fails such limitation—
(i) at any time during the 1-year period ending on the date of sale of qualified securities to the plan or cooperative, or
(ii) on the date as of which qualified securities are allocated to participants in the plan or cooperative.
(C) Nonallocation period
The term "nonallocation period" means the period beginning on the date of the sale of the qualified securities and ending on the later of—
(i) the date which is 10 years after the date of sale, or
(ii) the date of the plan allocation attributable to the final payment of acquisition indebtedness incurred in connection with such sale.
(o) Distribution and payment requirements
(1) Distribution requirement
The plan provides that, if the participant and, if applicable pursuant to sections 401(a)(11) and 417, with the consent of the participant's spouse elects, the distribution of the participant's account balance in the plan will commence not later than 1 year after the close of the plan year—
(i) in which the participant separates from service by reason of the attainment of normal retirement age under the plan, disability, or death, or
(ii) which is the 5th plan year following the plan year in which the participant otherwise separates from service, except that this clause shall not apply if the participant is reemployed by the employer before distribution is required to begin under this clause.
(B) Exception for certain financed securities
For purposes of this subsection, the account balance of a participant shall not include any employer securities acquired with the proceeds of the loan described in section 404(a)(9) until the close of the plan year in which such loan is repaid in full.
(C) Limited distribution period
The plan provides that, unless the participant elects otherwise, the distribution of the participant's account balance will be in substantially equal periodic payments (not less frequently than annually) over a period not longer than the greater of—
(i) 5 years, or
(ii) in the case of a participant with an account balance in excess of $800,000, 5 years plus 1 additional year (but not more than 5 additional years) for each $160,000 or fraction thereof by which such balance exceeds $800,000.
(2) Cost-of-living adjustment
The Secretary shall adjust the dollar amounts under paragraph (1)(C) at the same time and in the same manner as under section 415(d).
(p) Prohibited allocations of securities in an S corporation
An employee stock ownership plan holding employer securities consisting of stock in an S corporation shall provide that no portion of the assets of the plan attributable to (or allocable in lieu of) such employer securities may, during a nonallocation year, accrue (or be allocated directly or indirectly under any plan of the employer meeting the requirements of section 401(a)) for the benefit of any disqualified person.
If a plan fails to meet the requirements of paragraph (1), the plan shall be treated as having distributed to any disqualified person the amount allocated to the account of such person in violation of paragraph (1) at the time of such allocation.
(B) Cross reference
For excise tax relating to violations of paragraph (1) and ownership of synthetic equity, see section 4979A.
(3) Nonallocation year
The term "nonallocation year" means any plan year of an employee stock ownership plan if, at any time during such plan year—
(i) such plan holds employer securities consisting of stock in an S corporation, and
(ii) disqualified persons own at least 50 percent of the number of shares of stock in the S corporation.
(B) Attribution rules
For purposes of subparagraph (A)—
The rules of section 318(a) shall apply for purposes of determining ownership, except that—
(I) in applying paragraph (1) thereof, the members of an individual's family shall include members of the family described in paragraph (4)(D), and
(II) paragraph (4) thereof shall not apply.
(ii) Deemed-owned shares
Notwithstanding the employee trust exception in section 318(a)(2)(B)(i), an individual shall be treated as owning deemed-owned shares of the individual.
Solely for purposes of applying paragraph (5), this subparagraph shall be applied after the attribution rules of paragraph (5) have been applied.
(4) Disqualified person
The term "disqualified person" means any person if—
(i) the aggregate number of deemed-owned shares of such person and the members of such person's family is at least 20 percent of the number of deemed-owned shares of stock in the S corporation, or
(ii) in the case of a person not described in clause (i), the number of deemed-owned shares of such person is at least 10 percent of the number of deemed-owned shares of stock in such corporation.
(B) Treatment of family members
In the case of a disqualified person described in subparagraph (A)(i), any member of such person's family with deemed-owned shares shall be treated as a disqualified person if not otherwise treated as a disqualified person under subparagraph (A).
(C) Deemed-owned shares
The term "deemed-owned shares" means, with respect to any person—
(I) the stock in the S corporation constituting employer securities of an employee stock ownership plan which is allocated to such person under the plan, and
(II) such person's share of the stock in such corporation which is held by such plan but which is not allocated under the plan to participants.
(ii) Person's share of unallocated stock
For purposes of clause (i)(II), a person's share of unallocated S corporation stock held by such plan is the amount of the unallocated stock which would be allocated to such person if the unallocated stock were allocated to all participants in the same proportions as the most recent stock allocation under the plan.
(D) Member of family
For purposes of this paragraph, the term "member of the family" means, with respect to any individual—
(i) the spouse of the individual,
(ii) an ancestor or lineal descendant of the individual or the individual's spouse,
(iii) a brother or sister of the individual or the individual's spouse and any lineal descendant of the brother or sister, and
(iv) the spouse of any individual described in clause (ii) or (iii).
A spouse of an individual who is legally separated from such individual under a decree of divorce or separate maintenance shall not be treated as such individual's spouse for purposes of this subparagraph.
(5) Treatment of synthetic equity
For purposes of paragraphs (3) and (4), in the case of a person who owns synthetic equity in the S corporation, except to the extent provided in regulations, the shares of stock in such corporation on which such synthetic equity is based shall be treated as outstanding stock in such corporation and deemed-owned shares of such person if such treatment of synthetic equity of 1 or more such persons results in—
(A) the treatment of any person as a disqualified person, or
(B) the treatment of any year as a nonallocation year.
For purposes of this paragraph, synthetic equity shall be treated as owned by a person in the same manner as stock is treated as owned by a person under the rules of paragraphs (2) and (3) of section 318(a). If, without regard to this paragraph, a person is treated as a disqualified person or a year is treated as a nonallocation year, this paragraph shall not be construed to result in the person or year not being so treated.
(6) Definitions
(A) Employee stock ownership plan
The term "employee stock ownership plan" has the meaning given such term by section 4975(e)(7).
(B) Employer securities
The term "employer security" has the meaning given such term by section 409(l).
(C) Synthetic equity
The term "synthetic equity" means any stock option, warrant, restricted stock, deferred issuance stock right, or similar interest or right that gives the holder the right to acquire or receive stock of the S corporation in the future. Except to the extent provided in regulations, synthetic equity also includes a stock appreciation right, phantom stock unit, or similar right to a future cash payment based on the value of such stock or appreciation in such value.
(7) Regulations and guidance
The Secretary shall prescribe such regulations as may be necessary to carry out the purposes of this subsection.
(B) Avoidance or evasion
The Secretary may, by regulation or other guidance of general applicability, provide that a nonallocation year occurs in any case in which the principal purpose of the ownership structure of an S corporation constitutes an avoidance or evasion of this subsection.
(Added Pub. L. 95–600, title I, §141(a), Nov. 6, 1978, 92 Stat. 2787, §409A; amended Pub. L. 96–222, title I, §101(a)(7)(D)–(F), (I), (J), (L)(i)(VI), (ii)(I), (II), (iii)(V), (v)(VI), (VII), Apr. 1, 1980, 94 Stat. 198–200; Pub. L. 96–605, title II, §224(a), Dec. 28, 1980, 94 Stat. 3528; Pub. L. 97–34, title III, §§331(c)(1), 334, 336, 337(a), Aug. 13, 1981, 95 Stat. 293, 297, 298; Pub. L. 97–448, title I, §103(h), (i), Jan. 12, 1983, 96 Stat. 2379; renumbered §409 and amended Pub. L. 98–369, div. A, title IV, §§474(r)(15), 491(e)(1), July 18, 1984, 98 Stat. 843, 852; Pub. L. 99–514, title XI, §§1172(b)(1), 1174(a)(1), (b)(1), (2), (c)(1)(A), 1176(b), title XVIII, §§1852(a)(4)(B), 1854(a)(3)(A), (f)(1), (3)(C), 1899A(11), Oct. 22, 1986, 100 Stat. 2514, 2516, 2517, 2520, 2865, 2873, 2881, 2882, 2958; Pub. L. 100–647, title I, §§1011B(g)(1), (2), (i)(1), (3), (j)(3), (5), (k)(3), 1018(t)(4)(B), (C), (H), Nov. 10, 1988, 102 Stat. 3490, 3492, 3493, 3588, 3589; Pub. L. 101–239, title VII, §§7304(a)(2)(A), (B), 7811(h)(1), Dec. 19, 1989, 103 Stat. 2352, 2353, 2409; Pub. L. 105–34, title XV, §1506(a), Aug. 5, 1997, 111 Stat. 1064; Pub. L. 107–16, title VI, §656(a), June 7, 2001, 115 Stat. 131; Pub. L. 107–147, title IV, §411(j)(2), Mar. 9, 2002, 116 Stat. 47; Pub. L. 109–280, title IX, §901(a)(2)(B), Aug. 17, 2006, 120 Stat. 1029; Pub. L. 113–295, div. A, title II, §221(a)(54), Dec. 19, 2014, 128 Stat. 4045; Pub. L. 115–141, div. U, title IV, §401(a)(79), Mar. 23, 2018, 132 Stat. 1187.)
Inflation Adjusted Items for Certain Years
For inflation adjustment of certain items in this section, see Internal Revenue Notices listed in a table under section 401 of this title.
References in Text
Section 41, referred to in subsecs. (b)(1)(A), (4), (g), (i)(1)(A), and (m), which related to employee stock ownership credit, was repealed by Pub. L. 99–514, title XI, §1171(a), Oct. 22, 1986, 100 Stat. 2513. Section 30 of this title, relating to credit for increasing research activities, was renumbered section 41.
Section 12 of the Securities Exchange Act of 1934, referred to in subsec. (e)(4), is classified to section 78l of Title 15, Commerce and Trade.
Section 403(c)(1) of the Employee Retirement Income Security Act of 1974, referred to in subsecs. (j) and (k), is classified to section 1103(c)(1) of Title 29, Labor.
The enactment of the Tax Reform Act of 1984, referred to in subsecs. (g) and (k), means the enactment of div. A of Pub. L. 98–369, which was approved July 18, 1984.
Subsec. (n) of section 48, referred to in subsecs. (g) and (m), was repealed by section 474(o)(15) of Pub. L. 98–369.
Prior Provisions
A prior section 409, added Pub. L. 93–406, title II, §2002(c), Sept. 2, 1974, 88 Stat. 964; amended Pub. L. 94–455, title XV, §1501(b)(6), title XIX, §§1901(a)(60), 1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1736, 1774, 1834; Pub. L. 95–600, title I, §§156(c)(2), (3), 157(e)(1)(B), Nov. 6, 1978, 92 Stat. 2803, 2806; Pub. L. 96–222, title I, §101(a)(14)(B), Apr. 1, 1980, 94 Stat. 204; Pub. L. 97–34, title III, §311(g)(1)(D), (3), Aug. 13, 1981, 95 Stat. 281; Pub. L. 97–248, title II, §243(b)(1)(B), title III, §335(a)(2), Sept. 3, 1982, 96 Stat. 523, 628; Pub. L. 97–452, §2(c)(1), Jan. 12, 1983, 96 Stat. 2478; Pub. L. 98–369, div. A, title I, §42(a)(7), title V, §522(d)(13), July 18, 1984, 98 Stat. 557, 871, related to retirement bonds, prior to repeal by Pub. L. 98–369, div. A, title IV, §491(b), (f)(1), July 18, 1984, 98 Stat. 848, 853, applicable to obligations issued after Dec. 31, 1983.
2018—Subsec. (n)(1)(A)(i). Pub. L. 115–141 substituted "securities," for "securities,,,".
2014—Subsec. (q). Pub. L. 113–295 struck out subsec. (q) which related to cross-references.
2006—Subsec. (h)(7). Pub. L. 109–280 inserted "or subparagraph (B) or (C) of section 401(a)(35)" before period at end.
2002—Subsec. (o)(1)(C)(ii). Pub. L. 107–147 substituted "$800,000" for "$500,000" in two places and "$160,000" for "$100,000".
2001—Subsecs. (p), (q). Pub. L. 107–16 added subsec. (p) and redesignated former subsec. (p) as (q).
1997—Subsec. (h)(2). Pub. L. 105–34 designated existing provisions as subpar. (A), inserted subpar. heading, struck out "In the case of an employer whose charter or bylaws restrict the ownership of substantially all outstanding employer securities to employees or to a trust described in section 401(a), a plan which otherwise meets the requirements of this subsection or section 4975(e)(7) shall not be considered to have failed to meet the requirements of this subsection or of section 401(a) merely because it does not permit a participant to exercise the right described in paragraph (1)(A) if such plan provides that participants entitled to a distribution from the plan shall have a right to receive such distribution in cash, except that such plan may distribute employer securities subject to a requirement that such securities may be resold to the employer under terms which meet the requirements of paragraph (1)(B)." after "employer securities.", and added subpar. (B).
1989—Subsec. (l)(5). Pub. L. 101–239, §7811(h)(1), substituted "the second sentence" for "the last sentence".
Subsec. (n)(1). Pub. L. 101–239, §7304(a)(2)(A)(i), struck out "or section 2057" after "section 1042" in two places in introductory provisions.
Subsec. (n)(1)(A)(i). Pub. L. 101–239, §7304(a)(2)(A)(ii), struck out "or any decedent if the executor of the estate of such decedent makes a qualified sale to which section 2057 applies" after "employer securities,".
Subsec. (n)(1)(A)(ii). Pub. L. 101–239, §7304(a)(2)(A)(iii), struck out "or the decedent" after "the taxpayer".
Subsec. (n)(2)(C)(i), (3)(A)(ii). Pub. L. 101–239, §7304(a)(2)(B), struck out "or section 2057" after "section 1042".
1988—Subsec. (d). Pub. L. 100–647, §1011B(j)(3), inserted "or to any distribution or reinvestment required under section 401(a)(28)" after "under section 401(a)(9)".
Subsec. (e)(5). Pub. L. 100–647, §1018(t)(4)(H), substituted "paragraph (3)" for "paragraph (2) or (3)".
Subsec. (h)(2). Pub. L. 100–647, §1018(t)(4)(B), substituted "paragraph (1)(B)" for "section 409(o)".
Subsec. (h)(7). Pub. L. 100–647, §1011B(j)(5), added par. (7).
Subsec. (l)(4), (5). Pub. L. 100–647, §1011B(k)(3), redesignated par. (4), relating to nonvoting common stock may be acquired in certain cases, as (5).
Subsec. (n)(1). Pub. L. 100–647, §1011B(g)(1), made technical amendment to directory language of Pub. L. 99–514, §1172(b)(1). See 1986 Amendment note below.
Subsec. (n)(2)(C)(i), (3)(A)(ii). Pub. L. 100–647, §1011B(g)(2), inserted "or section 2057" after "which section 1042".
Subsec. (n)(3)(C). Pub. L. 100–647, §1018(t)(4)(C), amended subpar. (C) generally. Prior to amendment, subpar. (C) read as follows: "The term 'nonallocation period' means the 10-year period beginning on the later of—
"(i) the date of the sale of the qualified securities, or
"(ii) the date of the plan allocation attributable to the final payment of acquisition indebtedness incurred in connection with such sale."
Subsec. (o)(1)(A). Pub. L. 100–647, §1011B(i)(3), substituted "if the participant and, if applicable pursuant to sections 401(a)(11) and 417, with the consent of the participant's spouse elects" for "unless the participant otherwise elects".
Subsec. (o)(1)(A)(ii). Pub. L. 100–647, §1011B(i)(1), substituted "distribution is required to begin under this clause" for "such year".
1986—Subsec. (a)(3). Pub. L. 99–514, §1174(b)(2), inserted reference to subsec. (o).
Subsec. (d). Pub. L. 99–514, §1899A(11), substituted "participant's" for "participants's".
Pub. L. 99–514, §1852(a)(4)(B), inserted at end "This subsection shall not apply to any distribution required under section 401(a)(9)."
Subsec. (d)(1). Pub. L. 99–514, §1174(a)(1), substituted "separation from service, or termination of the plan" for "or separation from service".
Subsec. (e)(2). Pub. L. 99–514, §1854(f)(1)(C), (D), inserted "or beneficiary" after "participant" in two places and substituted "securities of the employer" for "employer securities".
Subsec. (e)(3). Pub. L. 99–514, §1854(f)(1)(B)–(D), inserted "or beneficiary" after "participant" in two places and substituted "securities of the employer" for "employer securities" and "any corporate matter which involves the voting of such shares with respect to the approval or disapproval of any corporate merger or consolidation, recapitalization, reclassification, liquidation, dissolution, sale of substantially all assets of a trade or business, or such similar transaction as the Secretary may prescribe in regulations" for "a corporate matter which (by law or charter) must be decided by more than a majority vote of outstanding common shares voted".
Subsec. (e)(5). Pub. L. 99–514, §1854(f)(1)(A), added par. (5).
Subsec. (h)(2). Pub. L. 99–514, §1854(f)(3)(C), inserted ", except that such plan may distribute employer securities subject to a requirement that such securities may be resold to the employer under terms which meet the requirements of section 409(o)".
Subsec. (h)(5), (6). Pub. L. 99–514, §1174(c)(1)(A), added pars. (5) and (6).
Subsec. (l)(4). Pub. L. 99–514, §1176(b), added par. (4) relating to acquisition of nonvoting common stock.
Subsec. (n). Pub. L. 99–514, §1854(a)(3)(A), added subsec. (n). Former subsec. (n) redesignated (o).
Subsec. (n)(1). Pub. L. 99–514, §1172(b)(1), as amended by Pub. L. 100–647, §1011B(g)(1), inserted "or section 2057" in two places in introductory provisions, "or any decedent if the executor of the estate of such decedent makes a qualified sale to which section 2057 applies," in subpar. (A)(i), and "or the decedent" in subpar. (A)(ii).
Subsec. (o). Pub. L. 99–514, §1174(b)(1), added subsec. (o). Former subsec. (o) redesignated (p).
Pub. L. 99–514, §1854(a)(3)(A), redesignated former subsec. (n) as (o).
Subsec. (p). Pub. L. 99–514, §1174(b)(1), redesignated former subsec. (o) as (p).
1984—Subsec. (b)(1)(A). Pub. L. 98–369, §474(r)(15)(A), (B), substituted "41" for "44G" and struck out "48(n)(1)(A) or" after "requirements of section".
Subsec. (b)(4). Pub. L. 98–369, §474(r)(15)(A), substituted "41" for "44G".
Subsec. (g). Pub. L. 98–369, §474(r)(15)(A), (C), substituted "41" for "44G" in two places, and inserted provision directing that, for purposes of the preceding sentence, the references to section 48(n)(1) and the employee plan credit shall refer to such section and credit as in effect before the enactment of the Tax Reform Act of 1984.
Subsec. (i)(1)(A). Pub. L. 98–369, §474(r)(15)(A), (D), substituted "41" for "44G", and struck out "48(n)(1) or" after "taxable year under section".
Subsec. (k). Pub. L. 98–369, §474(r)(15)(E), inserted provision requiring that, for purposes of this subsection, the reference to the matching employee plan credit refer to such credit as in effect before the enactment of the Tax Reform Act of 1984.
Subsec. (m). Pub. L. 98–369, §474(r)(15)(A), substituted "41" for "44G".
Subsec. (n)(3). Pub. L. 98–369, §474(r)(15)(A), substituted "41" for "44G".
1983—Subsec. (d)(2). Pub. L. 97–448, §103(i), struck out provisions covering the sale of substantially all of the stock of a subsidiary of the employer.
Subsec. (h)(2). Pub. L. 97–448, §103(h), substituted "the requirements of this subsection or of section 401(a)" for "the requirements of section 401(a)".
1981—Subsec. (b). Pub. L. 97–34, §331(c)(1)(A), (B), inserted in par. (1)(A) reference to section 44G(c)(1)(B), and inserted in par. (4) "or the credit allowed under section 44G (relating to the employee stock ownership credit)" after "basic employee plan credit".
Subsec. (d). Pub. L. 97–34, §337, designated provision relating to death, disability, or separation from service as par. (1) and added pars. (2) and (3).
Subsec. (g). Pub. L. 97–34, §331(c)(1)(C), (D), inserted reference to section 44G(c)(1)(B) and inserted "or the credit allowed under section 44G (relating to employee stock ownership credit)" after "employee plan credit".
Subsec. (h)(2). Pub. L. 97–34, §334, substituted "this subsection" for "this section" and inserted provision respecting receipt of distributions in cash where employer's charter or bylaws restrict ownership of substantially all outstanding employer securities to employees or to a section 401(a) trust where a participant is not permitted to exercise the right described in par. (1)(A).
Subsec. (h)(3), (4). Pub. L. 97–34, §336, added pars. (3) and (4).
Subsec. (i)(1)(A). Pub. L. 97–34, §331(c)(1)(E), inserted reference to section 44G(c)(1)(B).
Subsec. (m). Pub. L. 97–34, §331(c)(1)(F), inserted reference to section 44G(c)(1)(B).
Subsec. (n)(2), (3). Pub. L. 97–34, §331(c)(1)(G), (H), inserted "or employee stock ownership credit" after "employee plan credit" in par. (2) and added par. (3).
1980—Pub. L. 96–222, §101(a)(7)(L)(v)(VII), substituted "tax credit employee stock ownership plans" for "ESOPS" in section catchline.
Subsec. (a). Pub. L. 96–222, §101(a)(7)(L)(ii)(I), (v)(VI), substituted in heading and in text "tax credit employee stock ownership plan" for "ESOP".
Subsec. (b)(4). Pub. L. 96–222, §101(a)(7)(L)(iii)(V), substituted "employee plan credit" for "ESOP credit".
Subsec. (d). Pub. L. 96–222, §101(a)(7)(F), inserted "(or allocated to a participant's account in connection with matched employer and employee contributions)" after "under subsection (b)".
Subsec. (f)(1). Pub. L. 96–222, §101(a)(7)(I)(i), substituted "only if it is established on or before the due date (including any extension of such date) for the filing of the employer's tax return for the first taxable year of the employer for which an employee plan credit is claimed by the employer with respect to the plan" for "for a plan year only if it is established on or before the due date for the filing of the employer's tax return for the taxable year (including any extension of such date) in which or with which the plan year ends".
Subsec. (f)(2). Pub. L. 96–222, §101(a)(7)(I)(ii), (L)(v)(VII), substituted "employee plan" for "ESOP" and inserted "with respect to the plan" after "by the employer".
Subsec. (g). Pub. L. 96–222, §101(a)(7)(L)(iii)(V), substituted "employee plan credit" for "ESOP credit".
Subsec. (h)(2). Pub. L. 96–222, §101(a)(7)(E), inserted "or of section 4975(e)(7)" after "the requirements of this section".
Subsecs. (j)(2), (k)(1). Pub. L. 96–222, §101(a)(7)(L)(iii)(V), substituted "employee plan credit" for "ESOP credit".
Subsec. (l)(2)(B). Pub. L. 96–222, §101(a)(7)(J)(i), substituted "class of common stock" for "class of stock".
Subsec. (l)(3). Pub. L. 96–222, §101(a)(7)(J)(ii), (L)(ii)(II), substituted "as employer securities" for "as meeting the requirements of paragraph (1)", "paragraph (1) or (2)" for "paragraph (2)", and "tax credit employee stock ownership plan" for "ESOP" and inserted provisions requiring preferred stock to be treated as noncallable if after the call there will be a reasonable opportunity for a conversion which meets the requirements of the preceding sentence.
Subsec. (l)(4). Pub. L. 96–605 substituted in heading "Application to controlled group of corporations" for "Controlled group of corporations defined" and in subpar. (B) heading "Where common parent owns at least" for "Common parent may own only" and added subpar. (C).
Subsec. (m). Pub. L. 96–222, §101(a)(7)(D), (L)(i), substituted provisions relating to nonrecognition of gain or loss on contribution of employer securities to a tax credit employee stock ownership plan for provisions relating to contributions of stock of a controlling corporation.
Subsec. (n). Pub. L. 96–222, §101(a)(7)(L)(iii)(V), substituted "employee plan credit" for "ESOP credit" in pars. (1) and (2).
Amendment by Pub. L. 113–295 effective Dec. 19, 2014, subject to a savings provision, see section 221(b) of Pub. L. 113–295, set out as a note under section 1 of this title.
Amendment by Pub. L. 109–280 applicable to plan years beginning after Dec. 31, 2006, with special rules for collectively bargained agreements and certain employer securities held in an ESOP, see section 901(c) of Pub. L. 109–280, set out as a note under section 401 of this title.
Amendment by Pub. L. 107–147 effective as if included in the provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001, Pub. L. 107–16, to which such amendment relates, see section 411(x) of Pub. L. 107–147, set out as a note under section 25B of this title.
Pub. L. 107–16, title VI, §656(d), June 7, 2001, 115 Stat. 135, provided that:
"(1) In general.—The amendments made by this section [amending this section and sections 4975 and 4979A of this title] shall apply to plan years beginning after December 31, 2004.
"(2) Exception for certain plans.—In the case of any—
"(A) employee stock ownership plan established after March 14, 2001, or
"(B) employee stock ownership plan established on or before such date if employer securities held by the plan consist of stock in a corporation with respect to which an election under section 1362(a) of the Internal Revenue Code of 1986 is not in effect on such date,
the amendments made by this section shall apply to plan years ending after March 14, 2001."
Pub. L. 105–34, title I, §1506(c), Aug. 5, 1997, 111 Stat. 1066, provided that: "The amendments made by this section [amending this section, section 4975 of this title, and section 1108 of Title 29, Labor] shall apply to taxable years beginning after December 31, 1997."
Pub. L. 101–239, title VII, §7304(a)(3), Dec. 19, 1989, 103 Stat. 2353, provided that: "The amendments made by this subsection [amending this section and sections 4978 and 4979A of this title and repealing sections 2057 and 4978A of this title] shall apply to the estates of decedents dying after the date of the enactment of this Act [Dec. 19, 1989]."
Amendment by section 7811(h)(1) of Pub. L. 101–239 effective, except as otherwise provided, as if included in the provision of the Technical and Miscellaneous Revenue Act of 1988, Pub. L. 100–647, to which such amendment relates, see section 7817 of Pub. L. 101–239, set out as a note under section 1 of this title.
Amendment by Pub. L. 100–647 effective, except as otherwise provided, as if included in the provision of the Tax Reform Act of 1986, Pub. L. 99–514, to which such amendment relates, see section 1019(a) of Pub. L. 100–647, set out as a note under section 1 of this title.
Pub. L. 99–514, title XI, §1172(c), Oct. 22, 1986, 100 Stat. 2515, provided that: "The amendments made by this section [enacting section 2057 of this title and amending this section and section 4979A of this title] shall apply to sales after the date of the enactment of this Act [Oct. 22, 1986] with respect to which an election is made by the executor of an estate who is required to file the return of the tax imposed by the Internal Revenue Code of 1986 on a date (including extensions) after the date of the enactment of this Act."
Pub. L. 99–514, title XI, §1174(a)(2), Oct. 22, 1986, 100 Stat. 2516, as amended by Pub. L. 100–647, title I, §1011B(i)(2), Nov. 10, 1988, 102 Stat. 3492, provided that: "The amendment made by this subsection [amending this section] shall apply to distributions after December 31, 1984."
Pub. L. 99–514, title XI, §1174(b)(3), Oct. 22, 1986, 100 Stat. 2517, provided that: "The amendments made by this subsection [amending this section] shall apply to distributions attributable to stock acquired after December 31, 1986."
Pub. L. 99–514, title XI, §1174(c)(1)(B), Oct. 22, 1986, 100 Stat. 2518, provided that: "The amendment made by this paragraph [amending this section] shall apply to distributions attributable to stock acquired after December 31, 1986, except that a plan may elect to have such amendment apply to all distributions after the date of the enactment of this Act [Oct. 22, 1986]."
Amendment by section 1176(b) of Pub. L. 99–514 applicable to acquisitions of securities after Dec. 31, 1986, see section 1176(c) of Pub. L. 99–514, set out as a note under section 401 of this title.
Amendment by section 1852(a)(4)(B) of Pub. L. 99–514 effective, except as otherwise provided, as if included in the provisions of the Tax Reform Act of 1984, Pub. L. 98–369, div. A, to which such amendment relates, see section 1881 of Pub. L. 99–514, set out as a note under section 48 of this title.
Pub. L. 99–514, title XVIII, §1854(a)(3)(C), Oct. 22, 1986, 100 Stat. 2874, as amended by Pub. L. 100–647, title I, §1018(t)(4)(G), Nov. 10, 1988, 102 Stat. 3588, provided that:
"(i) Except as provided in clause (ii), the amendments made by this paragraph [amending this section and section 1042 of this title] shall apply to sales of securities after the date of the enactment of this Act [Oct. 22, 1986].
"(ii) A taxpayer or executor may elect to have section 1042(b)(3) of the Internal Revenue Code of 1954 (as in effect before the amendment made by subparagraph (B)) apply to sales before the date of the enactment of this Act as if such section included the last sentence of section 409(n)(1) of the Internal Revenue Code of 1986 (as added by subparagraph (A))."
Pub. L. 99–514, title XVIII, §1854(f)(4)(A), (B), Oct. 22, 1986, 100 Stat. 2882, provided that:
"(A) The amendments made by paragraph (1)(A) and (3) [amending this section and sections 1042 and 4975 of this title] shall take effect on the date of the enactment of this Act [Oct. 22, 1986]."
"(B) The amendments made by subparagraphs (B), (C), and (D) of paragraph (1) [amending this section] shall apply after December 31, 1986, to stock acquired after December 31, 1979."
Amendment by section 474(r)(15) of Pub. L. 98–369 applicable to taxable years beginning after Dec. 31, 1983, and to carrybacks from such years, see section 475(a) of Pub. L. 98–369, set out as a note under section 21 of this title.
Redesignation of section 409A as 409 by section 491(e)(1) of Pub. L. 98–369 effective Jan. 1, 1984, see section 491(f)(3) of Pub. L. 98–369, set out as a note under section 401 of this title.
Amendment by Pub. L. 97–448 effective, except as otherwise provided, as if it had been included in the provision of the Economic Recovery Tax Act of 1981, Pub. L. 97–34, to which such amendment relates, see section 109 of Pub. L. 97–448, set out as a note under section 1 of this title.
Amendment by section 331(c)(1) of Pub. L. 97–34 applicable to taxable years ending after Dec. 31, 1982, see section 331(f)(2) of Pub. L. 97–34, set out as a note under section 404 of this title.
Pub. L. 97–34, title III, §337(b), Aug. 13, 1981, 95 Stat. 298, as amended by Pub. L. 99–514, §2, Oct. 22, 1986, 100 Stat. 2095, provided that: "The amendments made by this section [amending this section] shall apply to distributions described in section 409A(d) of the Internal Revenue Code of 1986 [formerly I.R.C. 1954] (or any corresponding provision of prior law) made after March 29, 1975."
Amendment by sections 334 and 336 of Pub. L. 97–34 applicable to taxable years beginning after Dec. 31, 1981, see section 339 of Pub. L. 97–34, set out as a note under section 401 of this title.
Effective Date of 1980 Amendments
Pub. L. 96–605, title II, §224(b), Dec. 28, 1980, 94 Stat. 3529, provided that: "The amendment made by subsection (a) [amending this section] shall apply with respect to qualified investment for taxable years beginning after December 31, 1978."
Amendment by Pub. L. 96–222 effective, except as otherwise provided, as if it had been included in the provisions of the Revenue Act of 1978, Pub. L. 95–600, to which such amendment relates, see section 201 of Pub. L. 96–222, set out as a note under section 32 of this title.
Pub. L. 95–600, title I, §141(g), Nov. 6, 1978, 92 Stat. 2795, as added by Pub. L. 96–222, title I, §101(a)(7)(B), Apr. 1, 1980, 94 Stat. 197; amended by Pub. L. 99–514, §2, Oct. 22, 1986, 100 Stat. 2095, provided that:
"(1) In general.—Except as otherwise provided in this subsection and subsection (h) [set out as an Effective Date of 1978 Amendment note under section 4975 of this title], the amendments made by this section [enacting sections 409A [now 409] and 6699 of this title and amending sections 46, 48, 56, 401, 404, 415, 805, 1504, and 4975 of this title] shall apply with respect to qualified investment for taxable years beginning after December 31, 1978.
"(2) Election to have amendments apply during 1978.—At the election of the taxpayer, paragraph (1) shall be applied by substituting 'December 31, 1977' for 'December 31, 1978'; except that in the case of a plan in existence before December 31, 1978, any such election shall not affect the required allocation of employer securities attributable to qualified investment for taxable years beginning before January 1, 1979. An election under the preceding sentence shall be made at such time and in such manner as the Secretary of the Treasury or his delegate shall prescribe. Such an election, once made, shall be irrevocable.
"(3) Voting right provisions.—Section 409A(e) of the Internal Revenue Code of 1986 [formerly I.R.C. 1954] (as added by subsection (a)) [now section 409] shall apply to plans to which section 409A of such Code applies, beginning with the first day of such application.
"(4) Right to demand employer securities, etc.—Paragraphs (1)(A) and (2) of section 409A(h) of the Internal Revenue Code of 1986 (as added by subsection (a)) [now section 409] shall apply to distributions after December 31, 1978, made by a plan to which section 409A of such Code applies.
"(5) Subsection (f)(7).—The amendment made by subsection (f)(7) [amending section 415 of this title] shall apply to years beginning after December 31, 1978.
"(6) Retroactive application of amendment made by subsection (d).—In determining the regular tax deduction under [former] section 56(c) of the Internal Revenue Code of 1986 for any taxable year beginning before January 1, 1979, the amount of the credit allowable under section 38 of such Code shall be determined without regard to section 46(a)(2)(B) of such Code (as in effect before the enactment of the Energy Tax Act of 1978 [Nov. 9, 1978])."
Plan Amendments Not Required Until January 1, 1989
For provisions directing that if any amendments made by subtitle A or subtitle C of title XI [§§1101–1147 and 1171–1177] or title XVIII [§§1800–1899A] of Pub. L. 99–514 require an amendment to any plan, such plan amendment shall not be required to be made before the first plan year beginning on or after Jan. 1, 1989, see section 1140 of Pub. L. 99–514, as amended, set out as a note under section 401 of this title.
Regulations for I.R.C. 409 (Return to Top)
§ 1.409-1 Retirement bonds
§ 1.409(p)-1 Prohibited allocation of securities in an S corporation
§ 1.409(p)-1T Prohibited allocations of securities in an S corporation (temporary)


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Top 5 Best Android Games for 2022. You should Play!
1. Minecraft
Explore infinite worlds and build everything from the simplest of homes to the grandest of castles.
2. Among Us
Among Us is a 2018 online multiplayer social deduction game developed and published by American game studio Innersloth.
3. Free Fire
Garena Free Fire, also known as Free Fire, is a battle royale game, developed by 111dots Studio and published by Garena for Android and iOS.
4. BGMI
Battlegrounds Mobile India is a version of PUBG Mobile, exclusively for players in India. It is an online multiplayer battle royale game.
5. GTA
Grand Theft Auto is a series of action-adventure games created by David Jones and Mike Dailly.
Earn Money By Playing Games
The easiest way to earn money is by playing games. Click on the button


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I Never Want To Write This Essay Again
Mark Wilson/Getty Images
By Jenny Hollander
I don't know where you were when you heard about Wednesday's high school shooting in Parkland, Florida. I don't know what you were doing, or how you tried to process the news. I do know this: you thought to yourself, not again. And yet, again. Of course. Of course.
We are the first generation to be forcefully rendered numb by mass shooting after mass shooting after mass shooting — over and over again, every day, every week, every month, until we can hardly feel it. We are the first generation of Americans to have this forced on us, and I don't believe that we will be the last.
This, you have heard before: That meaningful gun reform is possible, must be possible, because Australia and the U.K. suffered a single mass shooting and decided it could never happen again. That a majority of Americans can agree that some degree of gun reform is needed right now. That 150,000 children and young adults went to school at some point in the last two decades and found themselves trapped in the midst of mass murder.
This, you've also heard: That there is a way, must be a way, to get ourselves out of this, because no developed and civil and educated nation can sit and watch as its citizens are slaughtered, brutally and repeatedly. Surely. Surely.
And, you've been told: This is not the time to talk about politics. This is the time for thoughts and prayers. This is really an issue about mental illness. Guns don't kill people.
OK. So what is it?
Joe Raedle/Getty Images News/Getty Images
We are a generation caught in a catch-22: You can numb yourself to the pain, the base instinct to feel empathy for other people's grief and suffering. Or, you can force yourself to feel each trauma as though it's the first, as though each Parkland, San Bernardino, Orlando, and Las Vegas are as shocking as Columbine was in 1999.
There has to be another way, you're thinking. There has to be a middle ground, where you can feel the storm of emotion and then channel that grief and anger into real, lasting change.
I have to ask you: What is it?
You can, and should, donate to organizations that work tirelessly to support gun reform. You can, and should, dismantle the myth that owning a gun makes a person safer. You can, and should, use your voice to protest, sign petitions, tweet, march, write letters, make calls — all of it.
And yet. There is only one way to significantly reduce the number of mass shootings in the United States, and it is meaningful, common-sense gun reform. This is far more than one piece of legislation — but nothing meaningful has been passed since. Nothing.
Thoughts and prayers have not worked. Devastatingly candid speeches by parents whose young children were shot to death have not worked. A president's aching desire to fix gun culture in some way, somehow, did not work. Outrage over a president blaming everyday students for their own massacre will not work.
Mark Wilson/Getty Images News/Getty Images
So what will? I'm genuinely asking, because I don't know the answer. After all, we are a generation who has seen a guy who once said that he could "grab women by the pussy" become president. We are a generation who has seen 58 people massacred at a festival and our government collectively shrug. We are a generation who is learning that, sometimes, there's not a damn thing you can do.
Even when it's unjust. Even when it's grotesque. Even when it's the worst thing you can possibly think of, when you let yourself consider it happening to your sister, your child, your wife. Even when you let yourself think about it, just for a second, just because you want change so bad.
What can we do? What is there left to do? Please. Please. Tell me.


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mandelbrot
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Personal experiments with the mandelbrot set and image generation.


Content: The Encyclopedia of Life is an online project chronicling every single named plant, animal, fungus and microorganism species on earth. While currently a work in progress, the goal is to create a detailed Web page for each species.
Design: The EOL favors substance over style; users won't find flashy animation or crazy layouts here. Instead, visitors get quality scientific information, presented in an easy-to-digest package that doesn't overwhelm the senses.
Review: The EOL team has begun a focused effort to assemble rich content of particular interest to the average user. Experts work to find out which organisms have an immediate impact on humans. These include commercially valuable species, invasive pests and disease organisms as well as popular ornamental plants, newly discovered species, and plants and animals on which we rely for food.
While only a few years old, the site boasts an impressive collection of scientific data this far. Users can find information on all sorts of living things, and that list is growing, thanks to a dedicated community of users and experts. Nothing makes it to the live site without going through a vetting process, however. This is what separates EOL from other crowd-sourced information hubs like Wikipedia.
Bottom Line: Once completed, the Encyclopedia of Life will be one of the most impressive destinations on the Internet. As a work in progress, it is a valuable tool for any science teacher.


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Published: May 25, 2022, 11:15 AM
Updated: May 25, 2022, 11:23 AM
Tags: Jerome Powell, Susan Collins, Business, Lael Brainard
Kansas City Fed President Esther George announces retirement
Published: May 25, 2022, 11:15 AM Updated: May 25, 2022, 11:23 AM
FILE - Kansas City Federal Reserve President Esther George listens during a closed door meeting with representatives of the marijuana industry in Colorado, on April 9, 2015, in Denver. George, said Wednesday, ay 25, 2022, that she will retire in January, as required by the Fed's mandatory retirement rules. (AP Photo/David Zalubowski, File) (David Zalubowski, Copyright 2022 The Associated Press. All rights reserved.)
WASHINGTON – The president of the Federal Reserve Bank of Kansas City, Esther George, said Wednesday that she will retire in January, as required by the Fed's mandatory retirement rules.
George, who has typically supported higher interest rates to ward off inflation — a "hawk," in Fed parlance — spent 40 years at the Kansas City Fed and became president nearly 11 years ago. Historically, Kansas City Fed presidents have had hawkish views, so her retirement may not have a significant impact on interest rate policy.
George's departure will extend a period of significant turnover among top Fed officials, just as the central bank is confronting the worst inflation in 40 years. The president of the Chicago Fed, Charles Evans, also faces a mandatory retirement in the coming months.
The Senate this month confirmed two new members to the Fed's board of governors in Washington, and also approved Chair Jerome Powell to a second four-year term. Governor Lael Brainard was confirmed as Vice Chair, replacing Richard Clarida, who resigned in January.
The turnover has increased the Fed's diversity. Biden's two new governors, Lisa Cook and Philip Jefferson, are the fourth and fifth Black governors in the Fed's 108-year history.
And on July 1, Susan Collins, an economist and provost at the University of Michigan, will become president of the Boston Federal Reserve, the first Black woman to run a regional Fed bank.
In August, Lorie Logan, an executive vice president at the New York Federal Reserve, will become president of the Dallas Fed. Logan currently oversees the Fed's trillions of dollars of Treasury and mortgage-backed bond holdings.


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Two new trails open in Brown County State Park
Timberly Ferree
Two new mountain bike trails, West Gate and Gnawbone, are now open to the public in Brown County State Park.
The trails are the last two of four new trails at the state park constructed with a $200,000 Next Level Trails grant awarded to the Hoosier Mountain Bike Association in May 2019. The grant previously funded the Weed Patch and Limekiln East trails.
"The trails at Brown County State Park attract visitors from all across the state and country," said Indiana Division of Natural Resources Director Dan Bortner.
The mile-long, beginner-friendly West Gate Trail provides a connection between the Weed Patch, Bobcat and Hesitation Point trails. The Gnawbone Trail, a 1.3-mile downhill-only trail, can be accessed from the West Gate Trail. The Gnawbone Trail provides an alternative to the Hobbs Hollow and Hesitation Point trails for intermediate and expert riders to further access the park's 35-mile-plus mountain bike trail system.
In total, the NLT grant has helped fund development of around 7.5 miles of new mountain bike trail to complete the trail system. Work supported by the grant has also improved connectivity between existing trails and park amenities, including the campground, nature center, fire tower and Hesitation Point.
Mountain bike trails in Brown County State Park are multi-use and are open to hiking and trail running as well as bicycling. Riders should obtain a $5 daily or $20 annual off-road cycling pass before using park mountain bike trails.
As part of Gov. Eric J. Holcomb's Next Level Connections initiative, NLT is the largest amount of trails funding in state history. The $150 million program is administered by the DNR and facilitates critical trail connections within and between Hoosier communities. Including this project, 11 of the 73 NLT projects are complete, totaling 37.8 miles of trail.
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