H.R. 5160 · 110th Congress
Small Businesses Add Value for Employees Act of 2008
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Never voted on. It didn't reach a floor vote before the 110th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
KindSponsor6 cosponsors · 3 D, 3 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Small Businesses Add Value for Employees Act of 2008 or the SAVE Act of 2008 - Amends Internal Revenue Code provisions relating to employer-established simple individual retirement accounts (IRAs) to: (1) repeal certain restrictions on rollovers from simple IRAs: (2) allow employers to elect to terminate qualified salary reduction arrangements at any time…
What it does: CRS summary · Introduced in House · Jan 29, 2008
Small Businesses Add Value for Employees Act of 2008 or the SAVE Act of 2008 - Amends Internal Revenue Code provisions relating to employer-established simple individual retirement accounts (IRAs) to: (1) repeal certain restrictions on rollovers from simple IRAs: (2) allow employers to elect to terminate qualified salary reduction arrangements at any time during the year; (3) repeal the enhanced 25% penalty on premature withdrawal made from simple IRAs within the first two plan years; (4) allow additional nonelective employer contributions to simple IRAs; (5) establish automatic deferral IRAs; and (6) increase the tax credit for small employer pension plan startup costs.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Small Businesses Add Value for Employees Act of 2008
Also known as: SAVE Act of 2008
Latest action (Mar 11, 2008): Referred to the Subcommittee on Health, Employment, Labor, and Pensions.
Policy area: Taxation · Origin: House · Introduced: Jan 29, 2008
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.