119th Congress Taxation
S. 3333: Emergency Savings Enhancement Act of 2025
Reported
- Introduced (completed)
- Passed Senate (not reached)
- Passed House (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.
The bill also extends and provides additional funding for a Department of Labor program that awards grants to states to promote employee ownership and participation in businesses.
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
- Cory Booker D-NJOriginal
- Bill Cassidy R-LA
- Timothy Kaine D-VA
Who scored on this bill
- 1Todd Young SponsorDrew cross-party cosponsors, introduced, reported3 events+26
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Introductions and cosponsorships count toward weekly caps and show no points.
Other bills by Todd Young
History
- Introduced in the Senate by Todd Young.
Show the full action history (5 actions)
- Committee on Health, Education, Labor, and Pensions. Reported by Senator Cassidy with an amendment in the nature of a substitute. Without written report.
- Placed on Senate Legislative Calendar under General Orders. Calendar No. 544.
- Committee on Health, Education, Labor, and Pensions. Ordered to be reported with an amendment in the nature of a substitute favorably.
- Introduced in Senate
- Read twice and referred to the Committee on Health, Education, Labor, and Pensions.