S 322
116th Congress
Senate
Taxation
Congressional oversight
Employee benefits and pensions
Government information and archives
Income tax deferral
Income tax exclusion
Income tax rates
SIMPLE Plan Modernization Act
Introduced: February 4, 2019
Introduced by:
Collins, Susan M.
Republican
· Maine
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 4, 2019
Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S835)
Feb 4, 2019
Introduced in Senate
Plain-English summary
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.
What's happening now
Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S835)
Committees of jurisdiction
1
Cosponsors
1