Retirement Security Act of 2001

1/16/2023, 2:48 PM
Retirement Security Act of 2001 - Amends the Internal Revenue Code to: (1) allow an individual a tax credit of up to $2,000 for qualified retirement savings contributions; (2) allow an eligible small employer a pension plan startup cost credit of up to $1,000 for the first year and $500 for each of the following two years; and (3) allow an eligible small employer a limited small employer pension plan contribution credit.
Congress
107
Number
HR - 1498
Introduced on
2001-04-04
# Amendments
0
Sponsors
+5
Cosponsors
+5

Variations and Revisions

4/4/2001
Text
PDF

Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and Summary

Retirement Security Act of 2001 - Amends the Internal Revenue Code to: (1) allow an individual a tax credit of up to $2,000 for qualified retirement savings contributions; (2) allow an eligible small employer a pension plan startup cost credit of up to $1,000 for the first year and $500 for each of the following two years; and (3) allow an eligible small employer a limited small employer pension plan contribution credit.
Alternative Names
Official Title as IntroducedTo amend the Internal Revenue Code of 1986 to allow individuals a refundable credit for elective deferrals and IRA contributions and to allow small employers credits for pension plan startup costs and for pension plan contributions.
Policy Areas
Taxation
Potential Impact
Business income tax•
Commerce•
Income tax•
Individual retirement accounts•
Labor and Employment•
Pension funds•
Personal income tax•
Small business•
Tax credits•
Tax refunds•
Tax-deferred compensation plans

Comments

Related

Member:  William J. Jefferson
Member:  William J. Coyne
Member:  Charles B. Rangel
Member:  Robert E. Andrews
Member:  John F. Tierney
Member:  Robert T. Matsui
Bill Update Alert:  Economic Growth and Tax Relief Reconciliation Act of 2001

Recent Activity

Latest Summary11/28/2006
Retirement Security Act of 2001 - Amends the Internal Revenue Code to: (1) allow an individual a tax credit of up to $2,000 for qualified retirement savings contributions; (2) allow an eligible small employer a pension plan startup cost credit of up ...
Latest Action8/13/2001
See H.R.1836.