S. 547 · 109th Congress
A bill to amend the Internal Revenue Code of 1986 to provide for employer retirement savings accounts, and…
Full title
A bill to amend the Internal Revenue Code of 1986 to provide for employer retirement savings accounts, and for other purposes.
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Never voted on. It didn't reach a floor vote before the 109th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
ThomasSponsor1 cosponsor · 1 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Amends the Internal Revenue Code to permit a tax-exempt employee benefit contribution plan to include an employer retirement savings account arrangement.
What it does: CRS summary · Introduced in Senate · Mar 8, 2005
Amends the Internal Revenue Code to permit a tax-exempt employee benefit contribution plan to include an employer retirement savings account arrangement. Sets forth requirements for such an arrangement, including rules relating to: (1) employer contributions; (2) restrictions on distributions and length of service; (3) nonforfeitability; (4) nondiscrimination standards; (5) matching contributions; (6) notice requirements; (7) withdrawal and vesting restrictions; (8) excess contributions; (9) distributions upon termination of a plan; and (10) small employers.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: A bill to amend the Internal Revenue Code of 1986 to provide for employer retirement savings accounts, and for other purposes.
Latest action (Mar 8, 2005): Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S2250-2252)
Policy area: Taxation · Origin: Senate · Introduced: Mar 8, 2005
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.