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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (2)

Short Titles

Short Titles - Senate

Short Titles as Introduced

Small Business Employee Retirement Savings Act of 2016

Official Titles

Official Titles - Senate

Official Titles as Introduced

A bill to amend the Internal Revenue Code of 1986 to encourage small businesses to enroll their employees in retirement savings options, and for other purposes.

Actions Overview (1)

Date Actions Overview
09/15/2016Introduced in Senate

All Actions (1)

Date All Actions
09/15/2016Read twice and referred to the Committee on Finance.
Action By: Senate

Cosponsors (1)

* = Original cosponsor
CosponsorDate Cosponsored
Sen. Bennet, Michael F. [D-CO]* 09/15/2016

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Related Documents
Senate Finance09/15/2016 Referred to

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Subjects (1)

Latest Summary (1)

There is one summary for S.3338. View summaries

Shown Here:
Introduced in Senate (09/15/2016)

Small Business Employee Retirement Savings Act of 2016

This bill amends the Internal Revenue Code to modify the tax treatment of retirement plans for small employers with no more than 100 employees. The bill: (1) increases from $500 to $5,000 the limit on the amount of the tax credit for small employer pension plan startup costs, and (2) allows a three-year $500 business-related tax credit for small employers that include and maintain an automatic contribution arrangement in an employer-sponsored retirement plan.

The bill also removes the 10% cap on the amount of an employee's wages that an employer may contribute to a retirement plan under an automatic contribution arrangement.