Emergency Savings Act of 2022

8/25/2023, 10:47 PM

Emergency Savings Act of 2022

This bill permits employer-sponsored retirement plans to offer participants a pension-linked emergency savings account (1) with a maximum account limit of $2,500, and (2) from which withdrawals are not subject to a tax penalty.

Congress
117
Number
S - 4310
Introduced on
2022-05-25
# Amendments
0
Sponsors
+5
Cosponsors
+5

Variations and Revisions

5/25/2022
Text
PDF
XML

Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and Summary

Emergency Savings Act of 2022

This bill permits employer-sponsored retirement plans to offer participants a pension-linked emergency savings account (1) with a maximum account limit of $2,500, and (2) from which withdrawals are not subject to a tax penalty.

Alternative Names
Official Title as IntroducedA bill to allow employers to offer pension-linked emergency savings accounts for financial emergencies, and for other purposes.
Policy Areas
Labor and Employment

Comments

Related

Bill Update Alert:  Fair Care Act of 2022

Recent Activity

Latest Summary8/25/2023

Emergency Savings Act of 2022

This bill permits employer-sponsored retirement plans to offer participants a pension-linked emergency savings account (1) with a maximum account limit of $2,500, and (2) from which withdrawals are not ...

Latest Action5/25/2022
Read twice and referred to the Committee on Finance.