Sec. 1. Short title; amendment of 1986 Code; table of contents
494 words·~2 min read·
/bill/113/s/1270/is/section-1A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
This Act may be cited as the or the Secure Annuities for Employee Retirement Act of 2013 . SAFE Retirement Act of 2013 Except as otherwise expressly provided, whenever in this Act an amendment or repeal is expressed in terms of an amendment to, or repeal of, a section or other provision, the reference shall be considered to be made to a section or other provision of the Internal Revenue Code of 1986. The table of contents is as follows: Sec. 1. Short title; amendment of 1986 Code; table of contents.
TITLE I—Public pension reform Sec. 101. Annuity accumulation retirement plans of employees of State and local governments. Sec. 102. Study of Federal pension systems. TITLE II—Private pension reform Subtitle A—Enhanced pension plan coverage Sec. 201. Starter 401(k) plans for employers with no retirement plan. Sec. 202. Increase in credit limitation for small employer pension plan startup costs. Sec. 203. Employers allowed to replace simple retirement accounts with safe harbor 401(k) plans during a year.
Sec. 204. Modification of automatic enrollment safe harbor. Sec. 205. Plan adopted by filing due date for year may be treated as in effect as of close of year. Sec. 206. Rules relating to election of safe harbor 401(k) status. Sec. 207. Modifications of rules relating to multiple employer defined contribution plans. Subtitle B—Pension plan and retirement savings simplification Sec. 211. Modifications of deadlines for adopting pension plan amendments. Sec. 212. Termination of application of top-heavy plan rules.
Sec. 213. Amendments to safe harbor 401(k) plans during plan year. Sec. 214. Modification of rules relating to hardship withdrawals from cash or deferred arrangements. Sec. 215. Individual may roll over insurance contract into individual retirement account. Sec. 216. Forfeitures allocated to participant's account may be treated as employer matching or nonelective contributions. Sec. 217. Time for providing explanation of qualified preretirement survivor annuity. Sec. 218. Modifications of additional participation requirements for defined benefit plans.
Sec. 219. Treatment of custodial accounts on termination of section 403(b) plans. Sec. 220. Secure deferral arrangements. Sec. 221. Portability of lifetime income options. Sec. 222. Consolidation of defined contribution plan notices. Sec. 223. Performance benchmarks for asset allocation funds. Subtitle C—Longevity reforms Sec. 231. Modification of required minimum distribution rules where portion of benefit of defined contribution plan is annuitized. Sec. 232. Updating of mortality tables for minimum required distributions.
Sec. 233. Minimum required distributions may be rolled over into Roth IRAs. Sec. 234. Transfer of minimum survivor annuity requirements from plan sponsors to annuity providers. Sec. 235. Expansion of Employee Plans Compliance Resolution System. Subtitle D—Modifications to the Employee Retirement Income Security Act of 1974 Sec. 241. Electronic communication of pension plan information. Sec. 242. Modification of deadlines for summary plan description updates. Sec. 243. Modification of small plan simplified reporting requirements.
Sec. 244. Fiduciary requirement regarding selection of annuity provider and annuity contract. TITLE III—Individual retirement investment advice reform Sec. 301. Transfer to Secretary of the Treasury of authorities regarding individual retirement plans.