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HR 1656 105th Congress House Labor and Employment Annuities Business income tax Commerce Defined benefit pension plans Finance and Financial Sector Government Operations and Politics Government paperwork Income tax Individual retirement accounts Law Pension funds Securities Small business Tax deductions Tax penalties Tax returns Tax-deferred compensation plans Taxation Trusts and trustees

Secure Assets For Employees (SAFE) Plan Act of 1997

Introduced: May 16, 1997 See on congress.gov
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This bill died when the 105th Congress ended
It never became law before the 105th Congress (1997–1998) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 6 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 17, 1997
Referred to the Subcommittee on Employer-Employee Relations.
May 19, 1997
Sponsor introductory remarks on measure. (CR E964-965)
May 16, 1997
Referred to House Education and the Workforce
May 16, 1997
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.
May 16, 1997
Referred to House Ways and Means
May 16, 1997
Introduced in House
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 Plain-English summary Congressional Research Service

Secure Assets For Employees (SAFE) Plan Act of 1997 - Amends the Internal Revenue Code to allow an eligible employer, if specified requirements are met, to establish and maintain a SAFE annuity (an individual retirement annuity) or a SAFE trust (a trust forming part of a defined benefit plan), both to be funded by the employer. Makes the employer contributions deductible without limitation and otherwise provides for the treatment of contributions and distributions. Mandates a penalty for early withdrawals. Requires simplified employer reports for SAFE annuities and simplified actuarial reports for SAFE trusts.

Amends the Employee Retirement Income Security Act of 1974 to exempt SAFE trusts from coverage requirements and SAFE annuities from certain employer reporting requirements.

What's happening now June 17, 1997

Referred to the Subcommittee on Employer-Employee Relations.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 3
 Cosponsors 1
All 1 Democratic 1
D
Clyburn, James E.
South Carolina · Mar 17, 1998
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 1656: Secure Assets For Employees (SAFE) Plan Act of 1997. 105th Congress. Open America. https://openamerica.io/bill/105-HR-1656/
MLA
"H.R. 1656: Secure Assets For Employees (SAFE) Plan Act of 1997." 105th Congress, 2026, Open America, https://openamerica.io/bill/105-HR-1656/.
Bluebook (legal)
H.R. 1656, 105th Cong. (2026), https://openamerica.io/bill/105-HR-1656/.
Markdown link
[H.R. 1656: Secure Assets For Employees (SAFE) Plan Act of 1997](https://openamerica.io/bill/105-HR-1656/)
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