Senate Bill 1870
117th Congress(2021-2022)
Enhancing Emergency and Retirement Savings Act of 2021
Introduced
Introduced in Senate on May 27, 2021
Origin Chamber
Senate
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
1870
Congress
117
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
No Senate votes have been held for this bill.
Summary
Enhancing Emergency and Retirement Savings Act of 2021
This bill permits penalty-free distributions, up to $1,000, from tax-exempt retirement plans for emergency personal expenses, limited to one distribution in a calendar year. The bill allows repayment to plans of such distributions over a three-year period.
May 27, 2021
05/27/2021
Read twice and referred to the Committee on Finance.
05/27/2021
Introduced in Senate
Public Record
Record Updated
Mar 8, 2023 8:12:49 PM