A bill to amend the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code of 1954 to allow a participant in a qualified employee savings plan to use the nonforfeitable benefit accrued in such plan as security for a loan from a bank or insured credit union.

reportedUnited States· United States Congress· EN

Introduced

19 July 1976

Last action

—

Status

Reported to House from the Committee on Ways and Means with amendment, H. Rept. 94-1709.

Summary

Amends the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code to allow a participant in a qualified employee savings plan to use the nonforfeitable benefit accrued in such plan as security for a loan from a bank or insured credit union.

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Timeline

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Votes

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Versions

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Documents

2 official files

Reported to House with amendment(s)
summary · EN · 28 September 1976
Open at official source
Introduced in House
summary · EN · 19 July 1976
Open at official source

Related records

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Sources

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Official source: https://www.congress.gov/bill/94th-congress/house-bill/14717
Open data entity: https://api.congress.gov/v3/bill/94/hr/14717