"S.3218 would authorize an employer to 'make available to employees a stand-alone, short-term savings account, using an automatic contribution arrangement.' ... S.3220 would generally allow a taxpayer to defer 20% of her tax refund and have it deposited in a 'Rainy Day Fund' that would be invested in US Treasury bills.... [These two bills] were part of a package that also included S.3219, authorizing Open MEPs, and S.3221, making certain modifications to the current automatic enrollment 401(k) nondiscrimination testing safe harbor."  MORE >>