Bill > S3615

This bill, titled the Multiemployer Plan Relief Act, amends the Internal Revenue Code of 1986 to create an exception for participants in multiemployer plans from certain automatic enrollment requirements. Specifically, it modifies Section 414A(c)(3) of the code by expanding the heading to include "Multiemployer Plans" alongside "Governmental and Church Plans" and by adding multiemployer plans, as defined in section 414(f), to the list of plans that can be exempt from these automatic enrollment rules. This change is intended to provide relief to participants in these types of plans, which are often established through collective bargaining agreements between multiple employers and unions, and will take effect for taxable years beginning after December 31, 2024.

Budget and Finance

https://www.congress.gov/bill/119th-congress/senate-bill/3615/all-info