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Emergency Savings Act of 2022

8/25/2023, 10:47 PM

Congressional Summary of S 4310

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.

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Current Status of Bill S 4310

Bill S 4310 is currently in the status of Bill Introduced since May 25, 2022. Bill S 4310 was introduced during Congress 117 and was introduced to the Senate on May 25, 2022.  Bill S 4310's most recent activity was Read twice and referred to the Committee on Finance. as of May 25, 2022

Bipartisan Support of Bill S 4310

Total Number of Sponsors
1
Democrat Sponsors
1
Republican Sponsors
0
Unaffiliated Sponsors
0
Total Number of Cosponsors
1
Democrat Cosponsors
0
Republican Cosponsors
1
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill S 4310

Primary Policy Focus

Labor and Employment

Alternate Title(s) of Bill S 4310

Emergency Savings Act of 2022
Emergency Savings Act of 2022
A bill to allow employers to offer pension-linked emergency savings accounts for financial emergencies, and for other purposes.

Comments

Sponsors and Cosponsors of S 4310

Cory A. Booker
Cory A. Booker
New JerseyDemocrat
Todd Young
Todd Young
IndianaRepublican

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