H.R. 7146 · 117th Congress
Enhancing Emergency and Retirement Savings Act of 2022
- Stage
- In committee
- Sponsor
- Brad Wenstrup
- Introduced
- 2022-03-17
- Latest action
- 2022-03-17 · Introduced in House
Summary
Enhancing Emergency and Retirement Savings Act of 2022
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.