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- S.1020
S.1020: SEAL 401(k)Savings Act
About This Bill
- This bill was introduced in the 112th Congress
- This bill is primarily about taxation
- Introduced May 18, 2011
- Latest Major Action May 18, 2011
- See the three similar bills introduced in other congresses.
Bill Sponsor
Bill Cosponsor
Bill Summary
Savings Enhancement by Alleviating Leakage in 401(k) Savings Act of 2011 or the SEAL 401(k) Act - Amends the Internal Revenue Code, with respect to loans made from a qualified employer plan, to: (1) extend the period for repayment of loans if a plan terminates or a plan participant becomes unemployed, (2) prohibit plans from allowing the use of credit cards or similar arrangements to access loan amounts, and (3) limit to three the number of...
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
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Sponsor introductory remarks on measure.
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Read twice and referred to the Committee on Finance.
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| May 18, 2011 |
Introduced in the Senate by Herb Kohl (D-Wis.) |