To amend the Federal Deposit Insurance Act to provide the same deposit insurance treatment for deposits by deferred compensation plans of State and local governments and nonprofit organizations as is provided for funds deposited in Keogh plans and individual retirement accounts.
State and Local Government Employees Section 457 Plan Deposit Insurance Preservation Act - Amends the Federal Deposit Insurance Act to provide permanent Federal deposit insurance per participant on deposits in government-sponsored retirement savings (deferred compensation) plans placed in savings associations and banks for State and local government employees and for nonprofit corporation. (Currently such insurance will expire on January 29, 1992.)
Introduced in House
Introduced in House
Referred to the House Committee on Banking, Finance + Urban Affrs.
Referred to the Subcommittee on Financial Institutions Supervision, Regulation and Insurance.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line