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H.R. 1994: Setting Every Community Up for Retirement Enhancement Act of 2019

CBO Score

$0

Date of Report

Fri April 5th, 2019

Notes

Estimate contains offsetting receipts

CBO Report Details

Legislation Details

116th Congress

To amend the Internal Revenue Code of 1986 to encourage retirement savings, and for other purposes.

Sponsor: Rep. Richard Neal — D — MA

This bill modifies the requirements for employer-provided retirement plans, individual retirement accounts (IRAs), and other tax-favored savings accounts. With respect to employer-provided retirement plans, the bill modifies requirements regarding multiple employer plans; automatic enrollment and nonelective contributions; tax credits for small employers that establish certain plans; loans; lifetime income options; the treatment of custodial accounts upon termination of section 403(b) plans; retirement income accounts for church-controlled organizations; the eligibility rules for certain long-term, part-time employees; required minimum distributions; nondiscrimination rules; minimum funding standards for community newspaper plans; and Pension Benefit Guaranty Corporation premiums for CSEC plans (multiple employer plans maintained by certain charities or cooperatives). The bill also includes provisions...

View the full vote history of this bill on GovTrack.us.

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