Retirement Enhancement and Savings Act of 2019

Summary

Retirement Enhancement and Savings Act of 201 9 This bill modifies requirements for tax-favored retirement savings accounts, employer-provided retirement plans, and retirement benefits for federal judges. With respect to employer-provided plans, the bill modifies requirements regarding multiple employer plans, automatic enrollment and nonelective contributions, loans, terminating or transferring plans, reporting and disclosure rules, nondiscrimination rules, selecting lifetime income providers, and Pension Benefit Guaranty Corporation premiums. The bill also increases the tax credit for small employer pension plan startup costs and allows a tax credit for small employers that establish retirement plans that include automatic enrollment. With respect to Individual Retirement Accounts (IRAs), the bill treats taxable non-tuition fellowship and stipend payments as compensation, repeals the maximum age for traditional IRA contributions, and permits any IRA to be a shareholder of any S corporation that is a bank. The bill makes several modifications to retirement benefits for magistrate judges of the U.S. Tax Court and other federal judges. The bill also modifies various tax provisions to reinstate and increase the tax exclusion for benefits provided to volunteer firefighters and emergency medical responders, revise the required distribution rules for pension plans, increase penalties for failing to file tax or retirement plan returns, and require the Internal Revenue Service to share returns and return information with U.S. Customs Border Protection to administer the heavy vehicle use tax.

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Timeline

1. 1 April 2019

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 1 April 2019

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 1 April 2019 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 1 April 2019

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 1 April 2019

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 1 April 2019

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Grassley, Chuck [R-IA] · R · Sponsor
• Sen. Wyden, Ron [D-OR] · D · Sponsor
• Sen. Risch, James E. [R-ID] · R · Cosponsor
• Sen. Braun, Mike [R-IN] · R · Cosponsor
• · ssfi00 · Standing

Related records

• related to → Retirement Enhancement and Savings Act of 2019
• related to → Providing Retirement Security to Workers in Small Businesses, Cooperatives, and Service Organizations Act of 2019
• related to → Small Employer Retirement Savings Auto-Enrollment Credit Act
• related to ← Lifetime Income Disclosure Act
• related to ← Lifetime Income Disclosure Act
• related to ← Retirement Security Preservation Act of 2019