This bill changes rules for pension-linked emergency savings accounts. It updates definitions in the Employee Retirement Income Security Act and the Internal Revenue Code. The bill raises the annual contribution limit from $2,500 to $5,000 and revises who counts as an "eligible participant." The changes apply to tax years beginning after December 31, 2026.
If your employer offers a pension-linked emergency savings account, the plan could let more individuals qualify under the plan's age, service, or other eligibility rules. The amount that can be put into these accounts each year is increased from $2,500 to $5,000. The new rules take effect for taxable years after 2026.
No publicly available information on budgetary effects or costs is included in the bill text provided.
No publicly available information in the bill text about supporters' statements or arguments.
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