,,ii  #aaf? ,,congress  #a/ ,session    
,s4 #ajbj  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,april #c1 #bjai,mr4   
,"y 7= himself1 ,mr4 ,book]1 ,mr4       
,cotton1 & ,mr4 ,jones7 introduc$ !     
foll[+ bill2 :i* 0 read twice & ref]r$  
to ! ,committee on ,f9ance  ,a ,,bill   
,to provide = an additional             
nondiscrim9ation safe h>bor = automatic 
contribution arrangem5ts4  #a4 ,%ort    
title ,?is ,act may be cit$ z !         
,retirem5t ,security ,flexibility ,act (
 #bjai4  #b4 ,additional                
nondiscrim9ation safe h>bor = automatic 
contribution arrangem5ts  7a7 ,9 g5]al  
,subsection 7k7 ( section #dja ( !      
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by add+ at ! end ! foll[+ new p>agraph3 
7#ae7 ,special nonelective & mat*+      
contribution rules = small employ]s     
7,a7 ,9 g5]al ,9 ! case ( a ca% or      
def]r$ arrangem5t ma9ta9$ by an eligible
 employ] 7z def9$ 9 section             
#djh7p77#b77;,c77i771 = purposes (      
p>agraph 7#ac71 ! arrangem5t %all be    

treat$ z meet+ ! requirem5ts (          
subp>agraph 7,d7 !re( if "u !           
arrangem5t1 ! total elective def]rals 7z
 def9$ 9 section #djb7;g77#c77;,a77 )   
respect to any employee d n exce$ an    
am\nt equal to ! applicable p]c5tage ( !
 limitation o!rwise applicable "u       
section #djb7;g74  7,b7 ,applicable     
p]c5tage ,= purposes ( subp>agraph 7,a71
 ! applicable p]c5tage ) respect to an  
arrangem5t is-- 7i7 #dj p]c5t 9 ! case (
 an arrangem5t :i* does n meet !        
requirem5ts ( p>agraph 7#ac77;,d7 & is n
 describ$ 9 clause 7ii7 or 7iii71  7ii7 
#fj p]c5t 9 ! case ( an arrangem5t :i*  
is n describ$ 9 clause 7iii7 & :i* w\ld 
meet ! requirem5ts ( p>agraph 7#ac77;,d7
 if--  7,i7 equal to at lea/ 7 sub/itut$
 = equal to 9 clause 7i77,i7 !re(1      
7,,ii7 #b p]c5t ( comp5sation1 & su*    
mat*+ contributions meet ! requirem5t ( 
subsection 7m77#aa77;,b7 7 sub/itut$ =  
#f p]c5t ( comp5sation 9 clause 7i77,i7 
!re(1 &  7,,iii7 #a p]c5t 7 sub/itut$ = 
#c p]c5t 9 clause 7i77,,ii7 !re(1 &     

7iii7 #hj p]c5t 9 ! case ( an arrangem5t
 :i* w\ld meet ! requirem5ts ( p>agraph 
7#ac77;,d7 if--  7,i7 equal to at lea/ 7
 sub/itut$ = equal to 9 clause 7i77,i7  
!re(1  7,,ii7 #d p]c5t ( comp5sation1 & 
su* mat*+ contributions meet !          
requirem5t ( subsection 7m77#aa77;,b7 7 
sub/itut$ = #f p]c5t ( comp5sation 9    
clause 7i77,i7 !re(1 &  7,,iii7 #b p]c5t
 7 sub/itut$ = #c p]c5t 9 clause        
7i77,,ii7 !re(4  7,c7 ,report+ ,?is     
p>agraph %all apply to an arrangem5t    
only if ! plan includes ) ! reports     
requir$ "u sections #fjeg & #fjeh--  7i7
 ! numb] ( employees eligible to        
p>ticipate 9 ! arrangem5t1 &  7ii7 !    
numb] ( p>ticipants = ! plan ye>4  4    
7b7 ,modification ( exi/+ automatic     
contribution safe h>bor  7#a7 ,qualifi$ 
p]c5tage  7,a7 ,9 g5]al ,clause 7iii7 ( 
section #dja7k77#ac77;,c7 ( ! ,int]nal  
,rev5ue ,code ( #aihf is am5d$ by /rik+ 
#aj p]c5t & ins]t+ #ae p]c5t4  7,b7     
,con=m+ am5dm5ts  7i7 ,subclause 7,i7 ( 
section #dja7k77#ac77;,c77iii7 ( !      

,int]nal ,rev5ue ,code ( #aihf is       
am5d$--  7,i7 by /rik+ #c p]c5t & ins]t+
 #c p]c5t1 b n great] ?an #aj p]c5t11 & 
7,,ii7 by add+ & at ! end4  7ii7        
,subclause 7,,ii7 ( section             
#dja7k77#ac77;,c77iii7 ( su* ,code is   
am5d$ to read z foll[s3  7,,ii7 dur+ any
 subsequ5t plan ye>1 ! less] ( #a       
p]c5tage po9t high] ?an ! p]c5tage 9    
effect = ! prec$+ plan ye> or #h p]c5t4 
4  7iii7 ,section #dja7k77#ac77;,c77iii7
 ( su* ,code is am5d$ by /rik+          
subclauses 7,,iii7 & 7,,iv74  7#b7      
,automatic re-election ,subp>agraph 7,c7
 ( section #dja7k77#ac7 ( su* ,code is  
am5d$ by /rik+ clause 7iv7 & by add+ at 
! end ! foll[+ new clause3  7iv7        
,automatic re-election requir$ ,!       
requirem5ts ( ?is subp>agraph %all be   
treat$ z met only if1 "u ! arrangem5t1 e
 #c ye>s ea* employee--  7,i7 :o is     
eligible to p>ticipate 9 ! arrangem5t1 &
  7,,ii7 :o is n p>ticipat+1 or is      
contribut+ less ?an #c p]c5t (          
comp5sation1 at ! "t ( det]m9ation1  is 

treat$ z hav+ made ! election describ$ 9
 clause 7i7 unless ! employee makes a   
new election "u clause 7ii74  4  7c7    
,effective date  7#a7 ,9 g5]al ,except z
 provid$ 9 p>agraph 7#b71 ! am5dm5ts    
made by ?is section %all apply to plan  
ye>s beg9n+ aft] ,decemb] #ca1 #bjai4   
7#b7 ,imm$iate automatic def]ral =      
curr5t employees n requir$ ,9 ! case (  
an employ] :o adopts a qualifi$         
automatic contribution arrangem5t 7z    
def9$ 9 section #dja7k77#ac77;,b7 ( !   
,int]nal ,rev5ue ,code ( #aihf7 aft]    
,decemb] #ca1 #bjai1 solely = ! fir/ &  
second plan ye>s = :i* ! arrangem5t is 9
 effect1 clauses 7i7 & 7iv7 ( section   
#dja7k77#ac77;,c7 ( ! ,int]nal ,rev5ue  
,code ( #aihf 7z am5d$ by ?is section7  
may be appli$ )\t tak+ into acc\nt any  
employee :o--  7,a7 is eligible to      
p>ticipate 9 ! arrangem5t 7or a         
pr$ecessor arrangem5t7 imm$iately be=e !
 date ! arrangem5t goes into effect1 &  
7,b7 has an election 9 effect on su*    
date ei!r to p>ticipate 9 ! arrangem5t  

or to n p>ticipate 9 ! arrangem5t4