Connecticut Seal

General Assembly

Amendment

 

January Session, 2013

LCO No. 8283

   
 

*SB0005408283SRO*

Offered by:

 

SEN. MCKINNEY, 28th Dist.

SEN. FASANO, 34th Dist.

 

To: Subst. Senate Bill No. 54

File No. 309

Cal. No. 234

(As Amended by Senate Amendment Schedule "A")

"AN ACT ESTABLISHING A RETIREMENT SAVINGS PLAN FOR LOW-INCOME PRIVATE SECTOR WORKERS. "

Strike subdivision (9) of section 7 in its entirety and insert in lieu thereof:

"(9) Evaluate and establish the process by which a qualified employer may contribute to a plan participant's individual retirement account, provided: (A) The contribution shall be allowed under the Internal Revenue Code, and (B) the contribution shall not cause the plan to be treated as an employee benefit plan under the federal Employee Retirement Income Security Act of 1974; "