3.0.0 1861 2023-01-11T13:38:33Z 2023-01-11T13:38:33Z Senate S 2017-09-26 115 ssfi00 Finance Committee Senate Standing Referred to 2017-09-26T18:47:31Z Automatic IRA Act of 2017 115 3499 HR 2017-07-27 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. Related bill CRS 2017-09-26 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2017-09-26 Introduced in Senate IntroReferral 10000 9 Library of Congress W000802 Sen. Whitehouse, Sheldon [D-RI] Sheldon Whitehouse D RI N Taxation Employee benefits and pensions Financial services and investments Government information and archives Income tax credits Income tax deferral Income tax exclusion Securities Small business Tax administration and collection, taxpayers Taxation 00 2017-09-26 Introduced in Senate 2018-03-30T18:32:21Z Automatic IRA Act of 2017

This bill amends the Internal Revenue Code to: (1) require certain employers who do not maintain qualifying retirement plans or arrangements to make available to their eligible employees a payroll deposit individual retirement account (IRA) arrangement (automatic IRA arrangement) which grants such employees the right to opt-out of participation; (2) require the Department of the Treasury to provide employers with a model notice for notifying employees of their opportunity to participate in an automatic IRA arrangement and for providing details regarding the election period; (3) impose a penalty on employers who fail to provide eligible employees access to an automatic IRA arrangement; (4) allow employers who do not have more than 100 employees a tax credit for costs associated with establishing an automatic IRA arrangement; and (5) increase the dollar limitation on the tax credit for small employer pension plan startup costs.

]]> Automatic IRA Act of 2017 Display Title Automatic IRA Act of 2017 Short Titles as Introduced Automatic IRA Act of 2017 Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to expand personal saving and retirement savings coverage by enabling employees not covered by qualifying retirement plans to save for retirement through automatic IRA arrangements, and for other purposes. Introduced in Senate 2017-09-26T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115s1861is/xml/BILLS-115s1861is.xml 2017-09-26 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.