3.0.0 1534 2019-11-15T21:05:16Z 2019-11-15T21:05:16Z House H HR 2011-04-14 112 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. KIND:H.R. 1534.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8.[Page H2856]]]> hsed00 Education and the Workforce Committee House Standing hsed02 Health, Employment, Labor, and Pensions Subcommittee Referred to 2011-05-20T21:01:36Z hsed14 Early Childhood, Elementary, and Secondary Education Subcommittee Referred to 2011-05-20T20:55:45Z Referred to 2011-04-14T13:58:30Z hswm00 Ways and Means Committee House Standing Referred to 2011-04-14T13:58:25Z 2011-05-20 hsed02 Health, Employment, Labor, and Pensions Subcommittee 1 House committee actions Referred to the Subcommittee on Health, Employment, Labor, and Pensions. Committee 2011-05-20 hsed14 Early Childhood, Elementary, and Secondary Education Subcommittee 1 House committee actions Referred to the Subcommittee on Early Childhood, Elementary, and Secondary Education. Committee 2011-04-14 Referred to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsed00 Education and the Workforce Committee 2011-04-14 Referred to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2011-04-14 Introduced in House IntroReferral Intro-H 9 Library of Congress 2011-04-14 Introduced in House IntroReferral 1000 9 Library of Congress K000188 Rep. Kind, Ron [D-WI-3] RON KIND D WI 3 N R000578 Rep. Reichert, David G. [R-WA-8] David Reichert R WA G. 8 2011-04-14 True Taxation Administrative law and regulatory procedures Consumer affairs Department of Labor Department of the Treasury Elementary and secondary education Employee benefits and pensions Financial literacy Income tax credits Income tax deductions Income tax deferral Sales and excise taxes Small business Teaching, teachers, curricula Taxation 00 2011-04-14 Introduced in House 2011-05-26T18:54:01Z Small Businesses Add Value for Employees Act of 2011 or the SAVE Act of 2011 - 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 withdrawals made from simple IRAs within the first two plan years, (4) allow additional nonelective employer contributions to simple IRAs, (5) establish automatic deferral IRAs, (6) allow a transfer of unused balances in flexible spending arrangements to a qualified retirement or eligible deferred compensation plan, (7) increase the tax credit for small employer pension plan startup costs, and (8) establish multiple small employer retirement plans that provide for automatic employee contributions.

Requires the Office of Financial Education of the Department of the Treasury to develop and implement an outreach plan to educate small businesses on the types and benefits of available retirement plans.

Requires the Secretaries of the Treasury and Labor to develop recommendations for small businesses to improve retirement outcomes.

Requires the Secretary of the Treasury, in consultation with the Secretary of Education, to develop age-appropriate financial literacy curricula for elementary and secondary schools.

Amends the Employee Retirement Income Security Act of 1974 (ERISA) to: (1) permit payroll deduction plans for individual retirement accounts or annuities, and (2) require disclosures relating to lifetime income from pension plans and annuities.

]]> SAVE Act of 2011 Short Titles as Introduced SAVE Act of 2011 Short Titles as Introduced Small Businesses Add Value for Employees Act of 2011 Display Title SAVE Act of 2011 Official Title as Introduced To amend the Internal Revenue Code of 1986 to encourage retirement savings by modifying requirements with respect to employer-established IRAs, and for other purposes. Introduced in House 2011-04-14T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112hr1534ih/xml/BILLS-112hr1534ih.xml 2011-05-20 Referred to the Subcommittee on Health, Employment, Labor, and Pensions. text/xml EN 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. Congressional Research Service, Library of Congress 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.