United States · Bill · S
S. 1218 (97th)
Employee Retirement Savings Act of 1981
Introduced
19 May 1981
Last action
—
Status
Committee on Finance requested executive comment from OMB; Treasury Department.
Sponsors
—
Subjects
Discovery layer
Source updated
29 August 2025
Summary
Employee Retirement Savings Act of 1981 - Amends the Internal Revenue Code to allow employees who are participants in tax-qualified employer retirement plans an income tax deduction for contributions to such plans or to individual retirement plans. Limits the amount of such deduction to the excess of the employee's compensation for the taxable year or $2,000, whichever is less, over the amount contributed by the employer for an annuity contract and any excluded social security tax applicable to the employee.
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Versions
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Documents
1 official file
Introduced in Senate
summary · EN · 19 May 1981
Sponsors
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Sources
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- Official source: https://www.congress.gov/bill/97th-congress/senate-bill/1218
- Open data entity: https://api.congress.gov/v3/bill/97/s/1218