S 1819 · 109th Congress · Taxation

401(k) Enhancement Act: Encouraging Retirement Savings

Introduced 2005-10-04· Sponsored by Sen. Santorum, Rick [R-PA]· Senate

Bill Progress

✓
Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Read twice and referred to the Committee on Finance.(2005-10-04)

Plain Language Summary

[AI summary unavailable — showing source text] 401(k) Enhancement Act: Encouraging Retirement Savings - Amends the Internal Revenue Code to allow 401(k) retirement plans to adopt automatic employee contribution arrangements. Provides for: (1) employer matching contributions; (2) employee elections to opt out of automatic contribution plans; (3) notice to employees of their rights under automatic contribution plans; and (4) default investment arrangements for employees who do not make investment decisions.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (1)

1 Republican
Sen. Bennett, Robert F. [R-UT]UT