SAVE Act of 2008

Summary

Small Businesses Add Value for Employees Act of 2008 or the SAVE Act of 2008 - Amends Internal Revenue Code provisions relating to employer-established simple individual retirement accounts (IRAs) to: (1) repeal certain restrictions on rollovers from simple IRAs: (2) allow employers to elect to terminate qualified salary reduction arrangements at any time during the year; (3) repeal the enhanced 25% penalty on premature withdrawal made from simple IRAs within the first two plan years; (4) allow additional nonelective employer contributions to simple IRAs; (5) establish automatic deferral IRAs; and (6) increase the tax credit for small employer pension plan startup costs.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 29 January 2008

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• Introduced in House (PDF)

  Introduced in House · EN · 29 January 2008

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• Introduced in House

  summary · EN · 29 January 2008

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