A bill to amend the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code of 1954 to allow the use of a participant's contributions to a defined contribution plan as security for a loan from a bank or insured credit union.

referredUnited States· United States Congress· EN

Introduced

31 January 1977

Last action

—

Status

Referred to House Committee on Ways and Means.

Summary

Amends the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code of 1954 to allow specified banks and credit unions to make loans to the participants or beneficiaries of defined contribution plans using such contributions as security.

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Votes

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Versions

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Documents

1 official file

Introduced in House
summary · EN · 31 January 1977
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/95th-congress/house-bill/2714
Open data entity: https://api.congress.gov/v3/bill/95/hr/2714