SIMPLE Plan Modernization Act
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in senate (Apr 21, 2021)
SIMPLE Plan Modernization Act
This bill modifies the requirements for SIMPLE (Savings Incentive Match Plan for Employees) Individual Retirement Accounts (IRAs), which are tax-favored retirement accounts that small businesses may provide to employees. The bill increases the contribution limits for certain SIMPLE IRAs and modifies the requirements for replacing SIMPLE IRAs with 401(k) plans.
What just happenedApr 21, 2021
Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S2125-2126; text: CR S2125-2126)
Who’s behind it
- Introduced in SenateApr 21, 2021
- Apr 21, 2021IntroReferral
Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S2125-2126; text: CR S2125-2126)
Finance Committee - Apr 21, 2021IntroReferral10000
Introduced in Senate