H.R. 3287 (112th): Savings Enhancement by Alleviating Leakage in 401(k) Savings Act of 2011

Introduced:
Nov 01, 2011 (112th Congress, 2011–2013)
Sponsor:
Rep. Sam Johnson [R-TX3]
Status:
Died (Referred to Committee)

The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.

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Status

This bill was introduced on November 1, 2011, in a previous session of Congress, but was not enacted.

Progress
Introduced Nov 01, 2011
Referred to Committee Nov 01, 2011
Cosponsors
2 cosponsors (2D) (show)
Committees

House Ways and Means

The committee chair determines whether a bill will move past the committee stage.

Full Title

To amend the Internal Revenue Code of 1986 to modify the rules relating to loans made from a qualified employer plan, and for other purposes.

Summary

No summaries available.

Text

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Last updated Nov 01, 2011.
4 pages

Primary Source

View on THOMAS (The Library of Congress)

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

11/1/2011--Introduced.
Savings Enhancement by Alleviating Leakage in 401(k) Savings Act of 2011 or the SEAL 401(k) Savings Act - 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.
Requires the Secretary 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.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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