HR 1534

112th CONGRESS
1st Session

H. R. 1534

To amend the Internal Revenue Code of 1986 to encourage retirement savings by modifying requirements with respect to employer-established IRAs, and for other purposes.

IN THE HOUSE OF REPRESENTATIVES

April 14, 2011

Mr. KIND (for himself and Mr. REICHERT) introduced the following bill; which was 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


A BILL

To amend the Internal Revenue Code of 1986 to encourage retirement savings by modifying requirements with respect to employer-established IRAs, and for other purposes.

SECTION 1. SHORT TITLE; TABLE OF CONTENTS.

SEC. 2. ELIMINATION OF RESTRICTION ON SIMPLE IRA ROLLOVERS.

SEC. 3. ALLOWING MID-YEAR SIMPLE IRA PLAN TERMINATION.

SEC. 4. ELIMINATION OF HIGHER PENALTY ON EARLY SIMPLE IRA DISTRIBUTIONS.

SEC. 5. INCREASE IN CONTRIBUTIONS ALLOWED FOR SIMPLE IRA.

SEC. 6. SIMPLE 401(k) PARITY FOR ADDITIONAL NONELECTIVE EMPLOYER CONTRIBUTIONS.

SEC. 7. AUTOMATIC DEFERRAL IRAS.

`SEC. 408B. AUTOMATIC DEFERRAL IRAS.

SEC. 8. 401(k) AUTOMATIC DEFERRAL PERCENTAGE PARITY.

SEC. 9. LIMITED TRANSFER OF UNUSED BALANCE IN FLEXIBLE SPENDING ARRANGEMENT.

SEC. 10. PRIOR YEARS COMPENSATION TAKEN INTO ACCOUNT IN DETERMINING MAXIMUM RETIREMENT SAVINGS DEDUCTION.

SEC. 11. EXPANDING SMALL EMPLOYER PENSION PLAN STARTUP COST CREDIT.

SEC. 12. FINANCIAL EDUCATION.

SEC. 13. MULTIPLE SMALL EMPLOYER PLAN.

SEC. 14. CLARIFICATION OF TREATMENT OF MULTIPLE EMPLOYER DEFINED CONTRIBUTION PLANS.

SEC. 15. CLARIFICATION OF TREATMENT OF INDIVIDUAL RETIREMENT PLANS WITH PAYROLL DEDUCTION.

SEC. 16. DISCLOSURE REGARDING LIFETIME INCOME.

END