House passes bill to rename spousal IRAs after former Sen. Hutchinson

House lawmakers on June 25, 2013 voted unanimously to name a provision in the tax code that allows nonworking spouses to make equal contributions to their IRAs after its sponsor. Lawmakers passed H.R. 2289, a bill to rename Code Sec. 219(c) as the Kay Bailey Hutchison Spousal IRA. Former Sen. Hutchinson (R-TX), who did not seek re-election in 2012, sponsored the original spousal IRA legislation with Sen. Barbara Mikulski (D-MD), as part of the Small Business Job Protection Act of 1996 (P.L. 104-188).

Source: H.R. 2289.

For more information on this and related topics, consult the CCH Pension Plan Guide, CCH Employee Benefits Management, and Spencer’s Benefits Reports.

Visit our News Library to read more news stories.