A bill to amend the Internal Revenue Code of 1986 to provide for employer retirement savings accounts, and for other purposes.

Summary

Amends the Internal Revenue Code to permit a tax-exempt employee benefit contribution plan to include an employer retirement savings account arrangement. Sets forth requirements for such an arrangement, including rules relating to: (1) employer contributions; (2) restrictions on distributions and length of service; (3) nonforfeitability; (4) nondiscrimination standards; (5) matching contributions; (6) notice requirements; (7) withdrawal and vesting restrictions; (8) excess contributions; (9) distributions upon termination of a plan; and (10) small employers.

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Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 8 March 2005

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 8 March 2005

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 8 March 2005

  Open at official source

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