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house Bill H.R. 2030

Savings Enhancement by Alleviating Leakage in 401(k) Savings Act

bill Progress


  • Not enacted
    The President has not signed this bill
  • The senate has not voted
  • The house has not voted
      house Committees
      Committee on Ways and Means
    IntroducedApril 6th, 2017

Bill Details

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Title

Savings Enhancement by Alleviating Leakage in 401(k) Savings Act

Official Title

To amend the Internal Revenue Code of 1986 to extend the rollover period for plan loan offset amounts and to modify the rules relating to hardship withdrawals from cash or deferred arrangements.

Summary

Savings Enhancement by Alleviating Leakage in 401(k) Savings Act This bill amends the Internal Revenue Code, with respect to loans made from a qualified employer plan, to extend the period for repayment of loans if a plan terminates or a plan participant becomes unemployed. The bill also requires the Department of the Treasury to modify regulations governing hardship distributions from qualified employer plans to allow participants to make additional contributions to a plan during the six-month period following a hardship distribution.

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