[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2944 Introduced in House (IH)]

<DOC>






117th CONGRESS
  1st Session
                                H. R. 2944

  To amend the Internal Revenue Code of 1986 to reduce the retirement 
plan period of service requirements for long-term, part-time employees.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             April 30, 2021

  Ms. Sewell introduced the following bill; which was referred to the 
                      Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
  To amend the Internal Revenue Code of 1986 to reduce the retirement 
plan period of service requirements for long-term, part-time employees.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. ONE-YEAR REDUCTION IN PERIOD OF SERVICE REQUIREMENT FOR 
              LONG-TERM, PART-TIME WORKERS.

    (a) In General.--Section 401(k)(2)(D)(ii) of the Internal Revenue 
Code of 1986 is amended by striking ``3'' and inserting ``2''.
    (b) Clarification of Prior Service for Purposes of Vesting Rules.--
Section 112(b) of the Setting Every Community Up for Retirement 
Enhancement Act of 2019 is amended by striking ``section 
401(k)(2)(D)(ii)'' and inserting ``paragraphs (2)(D)(ii) and 
(15)(B)(iii) of section 401(k)''.
    (c) Effective Date.--The amendments made by this section shall take 
effect as if included in the enactment of section 112 of the Setting 
Every Community Up for Retirement Enhancement Act of 2019.
                                 <all>