119th Congress Taxation
H.R. 6417: Emergency Savings Enhancement Act of 2025
Introduced
- Introduced (completed)
- Passed House (not reached)
- Passed Senate (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
This bill expands eligibility and increases the maximum contribution limit for pension-linked emergency savings accounts (PLESAs).
As background, PLESAs are savings accounts that are established and maintained in connection with a defined contribution retirement plan, such as a 401(k). Contributions to such accounts are subject to federal income tax, and withdrawals are allowed for any reason.
The bill expands eligibility for PLESAs by eliminating the exclusion of highly compensated employees. Thus, under the bill, individuals who meet the age, service, and other eligibility requirements of the plan, regardless of compensation, are eligible to participate in such a plan.
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The bill also increases the maximum limit on the portion of a PLESA balance attributable to participant contributions to $5,000 (from $2,600 in 2026). This limit continues to be adjusted for inflation.
Written by the Congressional Research Service, Library of Congress.
Roll calls
No roll call votes have been held on this bill.
Amendments
No amendments were offered to this bill.
Cosponsors
- Glenn Thompson R-PAOriginal
Who scored on this bill
- 1Eugene Vindman SponsorDrew cross-party cosponsors, introduced2 events+6
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History
- Introduced in the House by Eugene Vindman.
Show the full action history (2 actions)
- Introduced in House
- Referred to the Committee on Education and Workforce, 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.