Sec. 204. Modification of automatic enrollment safe harbor

122 words·~1 min read·/bill/113/s/1270/is/section-204

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Clause

(iii)of section 401(k)(13)(C) is amended by striking , does not exceed 10 percent, and is at least and inserting and is . Subclause

(I)of section 401(k)(13)(C)(iii) is amended by striking 3 percent and inserting at least 3 percent, but not greater than 10 percent, . Subclause

(II)of section 401(k)(13)(C)(iii) is amended by striking 4 percent and inserting at least 4 percent . Subclause

(III)of section 401(k)(13)(C)(iii) is amended by striking 5 percent and inserting at least 5 percent . Subclause

(IV)of section 401(k)(13)(C)(iii) is amended by striking 6 percent and inserting at least 6 percent . The amendments made by this section shall apply to plan years beginning after the date of enactment of this Act.