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H.R. 6417: Emergency Savings Enhancement Act of 2025

This bill, known as the Emergency Savings Enhancement Act of 2025, proposes modifications to enhance pension-linked emergency savings accounts by changing eligibility requirements and increasing contribution limits. Below are the key changes outlined in the bill:

Amendments to the Employee Retirement Income Security Act of 1974

The bill proposes modifications to the Employee Retirement Income Security Act (ERISA), specifically:

  • Definitions of "eligible participants" will be updated to reflect individuals who meet any age or service-related criteria set by their pension plans.

Amendments to the Internal Revenue Code of 1986

Key amendments to the Internal Revenue Code include:

  • The definition of "eligible participant" in relation to defined contribution plans will also be updated to allow individuals, irrespective of their participation in the plan, to meet the eligibility requirements set by the plan.
  • The maximum contribution limit for these emergency savings accounts will be raised from $2,500 to $5,000.
  • Several conforming amendments will be made to ensure that the language throughout the relevant sections reflects these changes.

Effective Date

The amendments proposed by this bill will take effect for taxable years starting after December 31, 2026.

Relevant Companies

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Sponsors

2 bill sponsors

Actions

2 actions

Date Action
Dec. 03, 2025 Introduced in House
Dec. 03, 2025 Referred to the Committee on Education and Workforce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

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