Sec. 111. Small employer automatic enrollment credit
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/bill/116/hr/1084/ih/section-111A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 45E is amended by adding at the end the following new subsection: The credit allowed under subsection
(a)for any taxable year during an eligible employer’s retirement auto-enrollment credit period shall be increased (without regard to subsection (b)) by $500. The retirement auto-enrollment credit period with respect to any eligible employer is the 3-taxable-year period beginning with the first taxable year for which the employer includes an eligible automatic contribution arrangement (as defined in section 414(w)(3)) in a qualified employer plan (as defined in section 4972(d)) sponsored by the employer. No taxable year with respect to an employer shall be treated as occurring within the retirement auto-enrollment credit period unless the arrangement described in subparagraph
(A)is included in the plan for such year. This subsection shall be applied without regard to subsection (c)(2). . The amendments made by this section shall apply to taxable years beginning after December 31, 2019.