S. 1819 · 109th Congress
401(k) Enhancement Act: Encouraging Retirement Savings
- Stage
- In committee
- Sponsor
- Rick Santorum
- Introduced
- 2005-10-04
- Latest action
- 2005-10-04 · Introduced in Senate
Summary
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.