SAVE Act of 2021

Summary

Savings for All Vocations Enhancement Act of 2021 or the SAVE Act of 2021 This bill modifies provisions relating to tax-exempt retirement plans. It (1) allows employers who establish a tax-exempt 403(b) pension plan to participate in a multiple employer plan, (2) allows employers who join an existing pension plan to take the tax credit for small employer pension plans start-up costs, (3) makes certain findings relating to S corporation employee stock ownership plans (ESOPs), (4) reduces the excise tax on certain accumulations in tax-exempt retirement plans and on failures to take required minimum plan distributions, and (5) sets forth a statute of limitations rule for purposes of the excise tax on excess plan contributions and accumulations in connection with an individual retirement plan.

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Timeline

1. 30 April 2021

   Introduced

   Referred to the Committee on Ways and Means, and in addition to the Committee on Education and Labor, 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.

   Source: IntroReferral

2. 30 April 2021

   Introduced

   Introduced in House

   Source: IntroReferral

3. 30 April 2021

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 30 April 2021 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 30 April 2021

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 30 April 2021

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 30 April 2021

  Open at official source

Sponsors

• RON KIND · D · Sponsor
• Rep. Kelly, Mike [R-PA-16] · R · Sponsor
• Rep. Smith, Jason [R-MO-8] · R · Sponsor
• · hsed00 · Standing
• · hswm00 · Standing

Related records

• related to ← Securing a Strong Retirement Act of 2022