HR 2714 · 95th Congress ·

A bill to amend the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code of 1954 to allow the use of a participant's contributions to a defined contribution plan as security for a loan from a bank or insured credit union.

Introduced 1977-01-31· Sponsored by Rep. Jones, James R. [D-OK-1]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Ways and Means.(1977-01-31)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code of 1954 to allow specified banks and credit unions to make loans to the participants or beneficiaries of defined contribution plans using such contributions as security.…

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