SAVE Act of 2015

[AI summary unavailable — showing source text] Small Businesses Add Value for Employees Act of 2015 or the SAVE Act of 2015 This bill amends the Internal Revenue Code, with respect to employer-established simple individual retirement accounts (IRAs) and pension plans, to: repeal restrictions on rollovers from simple IRAs to qualified retirement plans; allow employers to elect to terminate simple IRAs at any time during the year; repeal the increased 25% penalty on premature distributions from simple IRAs within the first two plan years; allow additional nonelective employer contributions to simple IRAs not exceeding 10% of compensation; establish automatic deferral IRAs to permit the automatic enrollment of employees earning at least $5,000 in a preceding year; establish secure deferral arrangements for automatically enrolling employees at 6% of pay with annual increases; allow small employers a new tax credit for the cost of adopting safe harbor requirements for secure deferral arrangements; allow a transfer of unused benefits in a flexible spending arrangement to a qualified retirement or eligible deferred compensation plan; increase the tax credit for small employer pension plan startup costs; and establish multiple small em…