Sec. 414. Small immediate financial incentives for contributing to a plan
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Subparagraph
(A)of section 401(k)(4) of the Internal Revenue Code of 1986 is amended by inserting (other than a de minimis financial incentive) after any other benefit . b ) plans Subparagraph
(A)of section 403(b)(12) of such Code, as amended by the preceding provisions of this Act, is amended by adding at the end the following: A plan shall not fail to satisfy clause
(ii)solely by reason of offering a de minimis financial incentive to employees to elect to have the employer make contributions pursuant to a salary reduction agreement. . Subsection
(d)of section 4975 of such Code is amended by striking or at the end of paragraph (22), by striking the period at the end of paragraph
(23)and inserting , or , and by adding at the end the following new paragraph: the provision of a de minimis financial incentive described in section 401(k)(4)(A). . Subsection
(b)of section 408 of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1108(b) ) is amended by adding at the end the following new paragraph: The provision of a de minimis financial incentive described in section 401(k)(4)(A) or section 403(b)(12)(A) of the Internal Revenue Code of 1986. . The amendments made by this section shall apply with respect to plan years beginning after the date of enactment of this Act.
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Sec. 414
Small immediate financial incentives for contributing to a plan
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