HR 3653
115th Congress
House
Taxation
Employee benefits and pensions
Sales and excise taxes
Securities
Tax administration and collection, taxpayers
Wages and earnings
MyRA Act
Introduced: August 15, 2017
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Aug 15, 2017
Referred to the House Committee on Ways and Means.
Aug 15, 2017
Introduced in House
Plain-English summary
Making Your Retirement Accessible Act or the MyRA Act
This bill amends the Internal Revenue Code to establish an employee retirement option known as a MyRA account. A MyRA account functions as a Roth Individual Retirement Account. An employee who elects to establish a MyRA account may contribute any portion of a tax refund or make automatic payroll contributions to the account.
The funding of MyRA accounts is limited to retirement savings bonds issued by the Department of the Treasury with a specified interest rate and maturity date.
The bill imposes a tax on any employer who fails to comply with the requirement for making direct deposits to a MyRA account of wages designated by an employee.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1
Cosponsors
1