S.1141 - Automatic IRA Act of 2007

A bill to amend the Internal Revenue Code of 1986 to allow employees not covered by qualified retirement plans to save for retirement through automatic payroll deposit IRAs, to facilitate similar saving by the self-employed, and for other purposes. view all titles (2)

All Bill Titles

  • Short: Automatic IRA Act of 2007 as introduced.
  • Official: A bill to amend the Internal Revenue Code of 1986 to allow employees not covered by qualified retirement plans to save for retirement through automatic payroll deposit IRAs, to facilitate similar saving by the self-employed, and for other purposes. as introduced.

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Introduced
 
Senate
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House
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President
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04/17/07
 
 
 
 
 
 
 

Official Summary

4/18/2007--Introduced.Automatic IRA Act of 2007 - Amends the Internal Revenue Code to: (1) require certain small employers who do not offer qualified retirement plans or arrangements to their employees to allow eligible employees to participate in a payroll deposit individual retirement ac

Official Summary

4/18/2007--Introduced.
Automatic IRA Act of 2007 - Amends the Internal Revenue Code to:
(1) require certain small employers who do not offer qualified retirement plans or arrangements to their employees to allow eligible employees to participate in a payroll deposit individual retirement account (IRA) arrangement (automatic IRAs);
(2) allow employers who do not have more than 100 employees a tax credit for costs associated with establishing a payroll deposit IRA arrangement; and
(3) treat automatic IRAs as individual retirement accounts (and as Roth IRAs) for income tax purposes. Establishes in the executive branch the TSP II Board to establish policies and procedures relating to payroll deposit IRA arrangements.


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Recent Blog Coverage

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05/25/11
S.1141: A bill to exempt children of certain ... - OpenCongress

Official government data, breaking news and blog coverage, public comments and user community for S.1141 A bill to exempt children of certain Filipino World War II veterans from the numerical limitations on immigrant ...

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05/20/09
S.1141: Tariff Relief Assistance for Developing Economies Act of ...

Other bills introduced include H.R. 1837 and S. 1665, which would extend ATPA to additional countries; and S. 1141 and S. 4101, which would expand product coverage for certain least-developed countries. Trade preferences are permitted . .... OpenCongress i

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12/20/08
CCL Legislative Blog: April 14 - 18, 2008

S.1141 would establish an incentive program for the purchase of ENERGY STAR certified manufactured homes in South Carolina by providing a $750 rebate payment and a sales tax exemption to consumers. S.1142 provides a state income tax ...

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