7/14/2008: The Payroll IRA Plan of S. 1141 and H.R. 2167: It's PIP – Or Is It? (Alvin D. Lurie, Esq.)
Excerpt: "An idea that has been wafting about in legislative halls and hearing rooms, in print and electronic media, and in assorted other venues for several years is to make employers in small businesses set up a payroll deduction facility for their employees not covered by employer-sponsored retirement plans, for the purpose of easing the making of contributions to an IRA established by or on behalf of the employee. . . . The PIP is more than just an idea. It has been embodied in several federal legislative proposals . . . . H.R. 2167 was one of the main topics discussed at a recent hearing on IRAs by the Ways & Means Committee's subcommittee on Select Revenue Measures, which has moved the legislation into the spotlight."
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