S. 1870 · 117th Congress
Enhancing Emergency and Retirement Savings Act of 2021
- Stage
- In committee
- Sponsor
- James Lankford
- Introduced
- 2021-05-27
- Latest action
- 2021-05-27 · Introduced in Senate
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.