HR 3287
112th Congress
House
Taxation
Administrative law and regulatory procedures
Consumer credit
Department of the Treasury
Employee benefits and pensions
Income tax exclusion
SEAL 401(k) Savings Act
Introduced: November 1, 2011
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Nov 1, 2011
Referred to the House Committee on Ways and Means.
Nov 1, 2011
Introduced in House
Plain-English summary
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 extend the period for repayment of loans if a plan terminates or a plan participant becomes unemployed.
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.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1
Cosponsors
1