3.0.0 3197 2023-01-11T13:41:50Z 2023-01-11T13:41:50Z Senate S 2018-07-11 115 ssfi00 Finance Committee Senate Standing Referred to 2018-07-11T17:55:34Z 2018-07-11 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. (sponsor introductory remarks on measure: CR S4917-4918) IntroReferral 2018-07-11 Introduced in Senate IntroReferral 10000 9 Library of Congress C001035 Sen. Collins, Susan M. [R-ME] Susan Collins R ME M. N W000805 Sen. Warner, Mark R. [D-VA] Mark Warner D VA R. 2018-07-11 True Taxation Congressional oversight Employee benefits and pensions Government information and archives Income tax deferral Income tax exclusion Income tax rates Taxation 00 2018-07-11 Introduced in Senate 2019-05-14T15:34:30Z SIMPLE Plan Modernization Act

This bill modifies the requirements for SIMPLE (Savings Incentive Match Plan for Employees) Individual Retirement Accounts (IRAs), which are tax-favored retirement accounts that small businesses may provide to employees. The bill increases the contribution limits for certain SIMPLE IRAs and modifies the requirements for replacing SIMPLE IRAs with 401(k) plans.

]]> SIMPLE Plan Modernization Act Display Title SIMPLE Plan Modernization Act Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to promote retirement savings on behalf of small business employees by making improvements to SIMPLE retirement accounts and easing the transition from a SIMPLE plan to a 401(k) plan, and for other purposes. Introduced in Senate IS Short Titles as Introduced SIMPLE Plan Modernization Act Introduced in Senate 2018-07-11T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115s3197is/xml/BILLS-115s3197is.xml 2018-07-11 Read twice and referred to the Committee on Finance. (sponsor introductory remarks on measure: CR S4917-4918) 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.