3.0.0 1121 2019-02-20T23:09:04Z 2019-02-23T20:38:27Z Senate S S 2011-05-26 112 ssfi00 Finance Committee Senate Standing Referred to 2011-05-26T22:13:56Z SEAL 401(k) Savings Act 112 3287 HR 2011-11-01 Referred to the House Committee on Ways and Means. Related bill CRS SEAL 401(k)Savings Act 112 1020 S 2011-05-18 Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S3108-3109) Related bill CRS 2011-05-26 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2011-05-26 Introduced in Senate IntroReferral 10000 9 Library of Congress K000305 Sen. Kohl, Herb [D-WI] HERBERT KOHL D WI H. N E000285 Sen. Enzi, Michael B. [R-WY] MICHAEL ENZI R WY B. 2011-05-26 True Taxation Administrative law and regulatory procedures Consumer credit Department of the Treasury Employee benefits and pensions Income tax exclusion Taxation 00 2011-05-26 Introduced in Senate 2011-11-15T22:55:19Z Savings Enhancement by Alleviating Leakage in 401(k) Savings Act of 2011 or the SEAL 401(k) Savings Act - Amends the Internal Revenue Code, with respect to loans made from a qualified employer plan, to: (1) extend the period for repayment of loans if a plan terminates or a plan participant becomes unemployed, and (2) prohibit plans from allowing the use of credit cards or similar arrangements to access loan amounts.

Requires the Secretary of the Treasury to modify regulations governing hardship distributions from qualified employer plans to allow participants to make additional contributions to a plan during the six month period following a hardship distribution.

]]> SEAL 401(k) Savings Act Short Titles as Introduced SEAL 401(k) Savings Act Short Titles as Introduced Savings Enhancement by Alleviating Leakage in 401(k) Savings Act of 2011 Display Title SEAL 401(k) Savings Act Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to modify the rules relating to loans made from a qualified employer plan, and for other purposes. Introduced in Senate 2011-05-26T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112s1121is/xml/BILLS-112s1121is.xml 2011-05-26 Read twice and referred to the Committee on Finance. 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.