S 4153 · 117th Congress · Taxation

Incentivizing Small Business Retirement Savings Act

Introduced 2022-05-05· Sponsored by Sen. Hickenlooper, John W. [D-CO]· Senate

Bill Progress

✓
Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Read twice and referred to the Committee on Finance.(2022-05-05)

Plain Language Summary

[AI summary unavailable — showing source text] Incentivizing Small Business Retirement Savings Act This bill allows eligible small employers an additional pension plan startup cost tax credit for a specified percentage of their contributions to an pension plan established for the benefit of their non-highly compensated employees. The amount of such credit may not exceed $1,000 per employee and is subject to a phaseout if the employer has more than 50 employees.…

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