Retirement Plan Modernization Act

House Bill 5676 - Retirement Plan Modernization Act: Overview, Status, and Impact

Hozzl · 2022-08-10T23:36:00Z

Explore the details of House Bill 5676 Retirement Plan Modernization Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Labor and Employment. Stay informed on legislative developments.

8/10/2022, 11:36 PM

Congressional Summary of HR 5676

Retirement Plan Modernization Act

This bill increases from $5,000 to $8,000 the amount of accrued benefits in a private pension plan that may be immediately distributed without the consent of the participant. The bill also requires the increased limit to be adjusted for inflation after 2019.

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Current Status of Bill HR 5676

Bill HR 5676 is currently in the status of Bill Introduced since January 24, 2020. Bill HR 5676 was introduced during Congress 116 and was introduced to the House on January 24, 2020. Bill HR 5676's most recent activity was Referred to the Committee on Education and Labor, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. as of January 24, 2020