Senate Bill 5156
119th Congress(2025-2026)
Retirement Simplification and Clarity Act
Introduced
Introduced in Senate on Jul 29, 2026
Bill Intelligence
The bill allows individuals age 50 and older to roll over employer plan benefits to individual retirement annuities. It also outlines concise, plain language requirements for a written explanation of distribution options, such as tax implications, rollover eligibility, and rollover instructions. The bill aims to simplify retirement plan rollovers and enhance clarity for participants. The bill's amendments are set to take effect for taxable years starting after December 31, 2026.
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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
5156
Congress
119
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
Unavailable
July 29, 2026
Sort by most recent
07/29/2026
Read twice and referred to the Committee on Finance.
07/29/2026
Introduced in Senate
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Public Record
Record Updated
Aug 11, 2026 7:36:19 PM