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United States · Bill · S

S. 3760 (111th)

Automatic IRA Act of 2010

referredUnited States· United States Congress· EN

Introduced

5 August 2010

Last action

5 August 2010 · Introduced

Status

Read twice and referred to the Committee on Finance.

Sponsors

Sen. Bingaman, Jeff [D-NM], Sen. Kerry, John F. [D-MA]

Subjects

Taxation

Source updated

14 August 2025

Taxation

Official sourceDownload fileView documentsShare

Summary

Automatic IRA Act of 2010 - Amends the Internal Revenue Code to: (1) require certain employers who do not maintain qualified retirement plans or arrangements to make available to their eligible employees a payroll deposit individual retirement account (IRA) arrangement (automatic IRA arrangement) which grants such employees the right to opt-out of participation; (2) require the Secretary of the Treasury to provide employers with a model notice for notifying employees of automatic IRS arrangements and to establish a program to assist employers in the implementation of such arrangements; (3) allow employers who do not have more than 100 employees a tax credit for costs associated with establishing an automatic IRA arrangement; (4) impose a penalty on employers who fail to provide eligible employees access to automatic IRA arrangements; and (5) increase the tax credit for small employer pension plan start-up costs. Requires the Secretary and the Secretary of Labor to jointly conduct feasibility studies on extending spousal consent requirements to automatic IRAs, promoting the use of low-cost lifetime income arrangements, and using investment data to notify individuals with multiple small balance retirement accounts of consolidation options.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 5 August 2010

    Introduced

    Read twice and referred to the Committee on Finance.

    Source: IntroReferral

  2. 5 August 2010

    Introduced

    Sponsor introductory remarks on measure. (CR S6904-6905)

    Source: IntroReferral

  3. 5 August 2010

    Introduced

    Introduced in Senate

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in Senate (text)

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  • Introduced in Senate (text)

    Introduced in Senate · EN · 5 August 2010

    ViewDownloadOpen at official source

  • Introduced in Senate (PDF)

    Introduced in Senate · EN · 5 August 2010

    ViewDownloadOpen at official source

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  • Introduced in Senate

    summary · EN · 5 August 2010

    Open at official source

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Sponsors

Related records

Sources

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