Sec. 8. Modification of automatic enrollment safe harbor
132 words·~1 min read·
/bill/114/hr/4067/ih/section-8·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 401(k)(13)(C)(iii) of the Internal Revenue Code of 1986 is amended by striking , does not exceed 10 percent, and is at least and inserting and is . Section 401(k)(13)(C)(iii)(I) of such Code is amended by striking 3 percent and inserting at least 3 percent, but not greater than 10 percent, . Section 401(k)(13)(C)(iii)(II) of such Code is amended by striking 4 percent and inserting at least 4 percent, but not greater than 15 percent, . Section 401(k)(13)(C)(iii)(III) of such Code is amended by striking 5 percent and inserting at least 5 percent .
Section 401(k)(13)(C)(iii)(IV) of such Code 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.