A bill to amend the Internal Revenue Code of 1986 to promote retirement savings on behalf of small business employees by making improvements to SIMPLE retirement accounts and easing the transition from a SIMPLE plan to a 401(k) plan, and for other purposes.

USA115^th CongressS-3197| Senate

| Updated: 7/11/2018

SIMPLE Plan Modernization Act This bill modifies the requirements for SIMPLE (Savings Incentive Match Plan for Employees) Individual Retirement Accounts (IRAs), which are tax-favored retirement accounts that small businesses may provide to employees. The bill increases the contribution limits for certain SIMPLE IRAs and modifies the requirements for replacing SIMPLE IRAs with 401(k) plans.

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Taxation

Congressional oversightEmployee benefits and pensionsGovernment information and archivesIncome tax deferralIncome tax exclusionIncome tax rates

A bill to amend the Internal Revenue Code of 1986 to promote retirement savings on behalf of small business employees by making improvements to SIMPLE retirement accounts and easing the transition from a SIMPLE plan to a 401(k) plan, and for other purposes.

USA115^th CongressS-3197| Senate

| Updated: 7/11/2018

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Susan M. Collins

Republican Senator

Maine

Cosponsors (1)

Mark R. Warner (Democratic)

Finance Committee

Taxation

Introduced
In Committee
On Floor
Passed Chamber
Enacted

Congressional oversightEmployee benefits and pensionsGovernment information and archivesIncome tax deferralIncome tax exclusionIncome tax rates

A bill to amend the Internal Revenue Code of 1986 to promote retirement savings on behalf of small business employees by making improvements to SIMPLE retirement accounts and easing the transition from a SIMPLE plan to a 401(k) plan, and for other purposes.

Suggested Questions

Taxation

A bill to amend the Internal Revenue Code of 1986 to promote retirement savings on behalf of small business employees by making improvements to SIMPLE retirement accounts and easing the transition from a SIMPLE plan to a 401(k) plan, and for other purposes.

Suggested Questions

Susan M. Collins

Finance Committee

Taxation

A bill to amend the Internal Revenue Code of 1986 to promote retirement savings on behalf of small business employees by making improvements to SIMPLE retirement accounts and easing the transition from a SIMPLE plan to a 401(k) plan, and for other purposes.

Suggested Questions

Taxation

A bill to amend the Internal Revenue Code of 1986 to promote retirement savings on behalf of small business employees by making improvements to SIMPLE retirement accounts and easing the transition from a SIMPLE plan to a 401(k) plan, and for other purposes.

Suggested Questions

Susan M. Collins

Finance Committee

Taxation