S 3955
117th Congress
Senate
Taxation
Starter-K Act of 2022
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 30, 2022
Read twice and referred to the Committee on Finance.
Mar 30, 2022
Introduced in Senate
Plain-English summary
Starter-K Act of 2022
This bill allows employers who do not provide a retirement plan to establish a starter 401(k) deferral-only arrangement for plan years beginning after 2022. The bill defines starter 401(k) deferral-only arrangement as any cash or deferred arrangement that meets specified automatic deferral requirements, contribution limitations, and notice requirements. Such arrangements also allow catch-up contributions for individuals age 50 and over and exempt such employers from complying with certain participation and discrimination standards.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1