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    <updateDate>2023-01-13T04:49:49Z</updateDate>
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    <originChamber>Senate</originChamber>
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    <introducedDate>2005-10-04</introducedDate>
    <congress>109</congress>
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        <name>Finance Committee</name>
        <chamber>Senate</chamber>
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            <name>Referred to</name>
            <date>2005-10-04T18:16:37Z</date>
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      <item>
        <title>Making Savings Automatic Act of 2005</title>
        <congress>109</congress>
        <number>1590</number>
        <type>S</type>
        <latestAction>
          <actionDate>2005-07-29</actionDate>
          <text>Read twice and referred to the Committee on Finance.</text>
        </latestAction>
        <relationshipDetails>
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            <type>Related bill</type>
            <identifiedBy>CRS</identifiedBy>
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        <actionDate>2005-10-04</actionDate>
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            <systemCode>ssfi00</systemCode>
            <name>Finance Committee</name>
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          <name>Senate</name>
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        <text>Read twice and referred to the Committee on Finance.</text>
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        <actionDate>2005-10-04</actionDate>
        <text>Introduced in Senate</text>
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        <actionCode>10000</actionCode>
        <sourceSystem>
          <code>9</code>
          <name>Library of Congress</name>
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    <sponsors>
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        <bioguideId>S000059</bioguideId>
        <fullName>Sen. Santorum, Rick [R-PA]</fullName>
        <firstName>RICK</firstName>
        <lastName>SANTORUM</lastName>
        <party>R</party>
        <state>PA</state>
        <isByRequest>N</isByRequest>
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    </sponsors>
    <cosponsors>
      <item>
        <bioguideId>B000382</bioguideId>
        <fullName>Sen. Bennett, Robert F. [R-UT]</fullName>
        <firstName>ROBERT</firstName>
        <lastName>BENNETT</lastName>
        <party>R</party>
        <state>UT</state>
        <middleName>F.</middleName>
        <sponsorshipDate>2005-10-04</sponsorshipDate>
        <isOriginalCosponsor>True</isOriginalCosponsor>
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    </cosponsors>
    <policyArea>
      <name>Taxation</name>
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      <legislativeSubjects>
        <item>
          <name>Administrative procedure</name>
        </item>
        <item>
          <name>Annuities</name>
        </item>
        <item>
          <name>Defined contribution plans</name>
        </item>
        <item>
          <name>Department of the Treasury</name>
        </item>
        <item>
          <name>Employee rights</name>
        </item>
        <item>
          <name>Federal preemption</name>
        </item>
        <item>
          <name>Finance and Financial Sector</name>
        </item>
        <item>
          <name>Government Operations and Politics</name>
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          <name>Hours of labor</name>
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        <item>
          <name>Income tax</name>
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        <item>
          <name>Investments</name>
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        <item>
          <name>Labor and Employment</name>
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          <name>Law</name>
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        <item>
          <name>Pension funds</name>
        </item>
        <item>
          <name>Salaries</name>
        </item>
        <item>
          <name>State laws</name>
        </item>
        <item>
          <name>Tax-deferred compensation plans</name>
        </item>
      </legislativeSubjects>
      <policyArea>
        <name>Taxation</name>
      </policyArea>
    </subjects>
    <summaries>
      <summary>
        <versionCode>00</versionCode>
        <actionDate>2005-10-04</actionDate>
        <actionDesc>Introduced in Senate</actionDesc>
        <updateDate>2005-11-10T20:21:46Z</updateDate>
        <text><![CDATA[ <p>401(k) Enhancement Act: Encouraging Retirement Savings - Amends the Internal Revenue Code to allow 401(k) retirement plans to adopt automatic employee contribution arrangements. Provides for: (1) employer matching contributions; (2) employee elections to opt out of automatic contribution plans; (3) notice to employees of their rights under automatic contribution plans; and (4) default investment arrangements for employees who do not make investment decisions. </p>]]></text>
      </summary>
    </summaries>
    <title>401(k) Enhancement Act: Encouraging Retirement Savings</title>
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        <titleType>Display Title</titleType>
        <title>401(k) Enhancement Act: Encouraging Retirement Savings</title>
      </item>
      <item>
        <titleType>Official Title as Introduced</titleType>
        <title>A bill to amend the Internal Revenue Code of 1986 to increase participation and savings in cash or deferred plans through automatic contribution and default investment arrangements, and for other purposes.</title>
        <billTextVersionName>Introduced in Senate</billTextVersionName>
        <billTextVersionCode>IS</billTextVersionCode>
      </item>
      <item>
        <titleType>Short Titles as Introduced</titleType>
        <title>401(k) Enhancement Act: Encouraging Retirement Savings</title>
      </item>
    </titles>
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        <type>Introduced in Senate</type>
        <date>2005-10-04T04:00:00Z</date>
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    <latestAction>
      <actionDate>2005-10-04</actionDate>
      <text>Read twice and referred to the Committee on Finance.</text>
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    <dc:language>EN</dc:language>
    <dc:rights>Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.</dc:rights>
    <dc:contributor>Congressional Research Service, Library of Congress</dc:contributor>
    <dc:description>This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.</dc:description>
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