Bill
Bill > HR1874
US HR1874
To amend the Internal Revenue Code of 1986 to require that qualified cash or deferred arrangements allow certain long-term employees to participate.
summary
Introduced
03/26/2019
03/26/2019
In Committee
03/26/2019
03/26/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
To amend the Internal Revenue Code of 1986 to require that qualified cash or deferred arrangements allow certain long-term employees to participate. This bill amends provisions of the Internal Revenue Code relating to tax-preferred pension plans and arrangements to provide that qualified cash or deferred arrangements must allow long-term employees working more than 500 but less than 1,000 hours per year to participate in such arrangements.
AI Summary
This bill amends the Internal Revenue Code to require that qualified cash or deferred retirement arrangements (i.e., 401(k) plans) allow certain long-term, part-time employees working more than 500 but less than 1,000 hours per year to participate. The bill provides special rules for these long-term, part-time employees, such as exempting them from nondiscrimination and top-heavy requirements, and allowing their years of at least 500 hours of service to count towards vesting. The amendments made by this bill would apply to plan years beginning after December 31, 2020, with a special rule that 12-month periods before that date would not be counted.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Referred to the House Committee on Ways and Means. (on 03/26/2019)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/116th-congress/house-bill/1874/all-info |
| BillText | https://www.congress.gov/116/bills/hr1874/BILLS-116hr1874ih.pdf |
| Bill | https://www.congress.gov/116/bills/hr1874/BILLS-116hr1874ih.pdf.pdf |
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