legislation: 115-s-3218

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bill_id congress bill_type bill_number title policy_area introduced_date latest_action_date latest_action_text origin_chamber sponsor_name sponsor_state sponsor_party sponsor_bioguide_id cosponsor_count summary_text update_date url
115-s-3218 115 s 3218 Strengthening Financial Security Through Short-Term Savings Accounts Act of 2018 Labor and Employment 2018-07-17 2018-07-17 Read twice and referred to the Committee on Health, Education, Labor, and Pensions. Senate Sen. Heitkamp, Heidi [D-ND] ND D H001069 3 Strengthening Financial Security Through Short-Term Savings Accounts Act of 2018 This bill allows employers to enroll employees in short-term savings accounts that are funded using automatic contributions deducted from participating employees' wages. For each pay period, the employer must transfer to the account an amount equal to the percentage of the employee's compensation or a fixed amount, as determined by the employer. Employees may elect to adjust, stop, or pause their contributions. The balance in an account may not exceed $10,000 (adjusted annually for inflation) and must be made readily available to the employee at any time. 2023-01-11T13:41:49Z  

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