[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 3333 Reported in Senate (RS)]
<DOC>
Calendar No. 544
119th CONGRESS
2d Session
S. 3333
To modify the eligibility requirements and account contribution maximum
for pension-linked emergency savings accounts, and for other purposes.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
December 3, 2025
Mr. Young (for himself, Mr. Booker, Mr. Cassidy, and Mr. Kaine)
introduced the following bill; which was read twice and referred to the
Committee on Health, Education, Labor, and Pensions
August 5, 2026
Reported by Mr. Cassidy, with an amendment
[Strike out all after the enacting clause and insert the part printed
in italic]
_______________________________________________________________________
A BILL
To modify the eligibility requirements and account contribution maximum
for pension-linked emergency savings accounts, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
<DELETED>SECTION 1. SHORT TITLE.</DELETED>
<DELETED> This Act may be cited as the ``Emergency Savings
Enhancement Act of 2025''.</DELETED>
<DELETED>SEC. 2. AMENDMENTS TO THE EMPLOYEE RETIREMENT INCOME SECURITY
ACT OF 1974.</DELETED>
<DELETED> Section 801 of the Employee Retirement Income Security Act
of 1974 (29 U.S.C. 1193) is amended--</DELETED>
<DELETED> (1) by striking subsection (b) and inserting the
following:</DELETED>
<DELETED> ``(b) Eligible Participant.--For purposes of this part,
the term `eligible participant', with regard to an individual account
plan, means an individual who meets any age, service, and other
eligibility requirements of the plan.''; and</DELETED>
<DELETED> (2) in subsection (d)--</DELETED>
<DELETED> (A) in paragraph (1)(A)(i), by striking
``$2,500'' and inserting ``$5,000''; and</DELETED>
<DELETED> (B) in paragraph (3)(A)--</DELETED>
<DELETED> (i) in clause (vii), by adding
``and'' at the end;</DELETED>
<DELETED> (ii) in clause (viii), by striking
``; and'' and inserting a period; and</DELETED>
<DELETED> (iii) by striking clause
(ix).</DELETED>
<DELETED>SEC. 3. AMENDMENTS TO THE INTERNAL REVENUE CODE OF
1986.</DELETED>
<DELETED> (a) Eligible Participant.--Paragraph (2) of section
402A(e) of the Internal Revenue Code of 1986 is amended to read as
follows:</DELETED>
<DELETED> ``(2) Eligible participant.--For purposes of this
subsection, the term `eligible participant', with regard to a
defined contribution plan, means an individual, without regard
to whether the individual is otherwise a participant in such
plan, who meets any age, service, and other eligibility
requirements of the plan.''.</DELETED>
<DELETED> (b) Contribution Limitation.--Clause (i) of section
402A(e)(3)(A) of the Internal Revenue Code of 1986 is amended by
striking ``$2,500'' and inserting ``$5,000''.</DELETED>
<DELETED> (c) Conforming Amendment.--Subparagraph (A) of section
402A(e)(5) of the Internal Revenue Code of 1986 is amended by adding
``and'' at the end of clause (vii), by striking ``; and'' at the end of
clause (viii) and inserting a period, and by striking clause
(ix).</DELETED>
<DELETED>SEC. 4. EFFECTIVE DATE.</DELETED>
<DELETED> The amendments made by sections 2 and 3 shall apply to
taxable years beginning after December 31, 2026.</DELETED>
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Emergency Savings Enhancement Act of
2025''.
SEC. 2. AMENDMENTS TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF
1974.
Section 801 of the Employee Retirement Income Security Act of 1974
(29 U.S.C. 1193) is amended--
(1) by striking subsection (b) and inserting the following:
``(b) Eligible Participant.--For purposes of this part, the term
`eligible participant', with regard to an individual account plan,
means an individual who meets any age, service, and other eligibility
requirements of the plan.''; and
(2) in subsection (d)--
(A) in paragraph (1)(A)(i), by striking ``$2,500''
and inserting ``$5,000''; and
(B) in paragraph (3)(A)--
(i) in clause (vii), by adding ``and'' at
the end;
(ii) in clause (viii), by striking ``;
and'' and inserting a period; and
(iii) by striking clause (ix).
SEC. 3. AMENDMENTS TO THE INTERNAL REVENUE CODE OF 1986.
(a) Eligible Participant.--Paragraph (2) of section 402A(e) of the
Internal Revenue Code of 1986 is amended to read as follows:
``(2) Eligible participant.--For purposes of this
subsection, the term `eligible participant', with regard to a
defined contribution plan, means an individual, without regard
to whether the individual is otherwise a participant in such
plan, who meets any age, service, and other eligibility
requirements of the plan.''.
(b) Contribution Limitation.--Clause (i) of section 402A(e)(3)(A)
of the Internal Revenue Code of 1986 is amended by striking ``$2,500''
and inserting ``$5,000''.
(c) Conforming Amendment.--Subparagraph (A) of section 402A(e)(5)
of the Internal Revenue Code of 1986 is amended by adding ``and'' at
the end of clause (vii), by striking ``; and'' at the end of clause
(viii) and inserting a period, and by striking clause (ix).
SEC. 4. EFFECTIVE DATE.
The amendments made by sections 2 and 3 shall apply to taxable
years beginning after December 31, 2026.
SEC. 5. APPROPRIATIONS FOR THE EMPLOYEE OWNERSHIP INITIATIVE GRANT
PROGRAM.
Section 346 of the SECURE 2.0 Act of 2022 (29 U.S.C. 3228) is
amended--
(1) in subsection (d)(6), by adding at the end the
following:
``(F) For fiscal years 2030 through 2035, the
amount described in this paragraph for the previous
fiscal year adjusted by the percent increase in the
consumer price index for all urban consumers for the
most recent 12-month period for which applicable data
is available.''; and
(2) by striking subsection (g) and inserting the following:
``(g) Funding.--
``(1) In general.--Except as provided in paragraph (4), the
Secretary may make grants under subsection (d) in a fiscal year
using amounts appropriated under paragraphs (2) and (3) for
that fiscal year.
``(2) Discretionary funds.--In addition to amounts
appropriated under paragraph (3), there is authorized to be
appropriated, for use as described in paragraph (1), not more
than the following:
``(A) For fiscal year 2025, $4,000,000.
``(B) For fiscal year 2026, $7,000,000.
``(C) For fiscal year 2027, $10,000,000.
``(D) For fiscal year 2028, $13,000,000.
``(E) For fiscal year 2029, $16,000,000
``(F) For fiscal year 2033, $20,000,000.
``(G) For fiscal year 2034, $21,000,000.
``(H) For fiscal year 2035, $22,000,000.
``(3) Mandatory funds.--There is appropriated, out of any
money in the Treasury not otherwise appropriated, for use as
described in paragraph (1) the following:
``(A) For fiscal year 2027, $8,000,000.
``(B) For fiscal year 2028, $10,000,000.
``(C) For fiscal year 2029, $12,000,000.
``(D) For fiscal year 2030, $14,000,000.
``(E) For fiscal year 2031, $16,000,000.
``(F) For fiscal year 2032, $18,000,000.
``(4) Program administration.--
``(A) In general.--Of the amounts appropriated
under paragraphs (2) and (3) for a fiscal year, the
Secretary may reserve not more than 5 percent of such
amounts for the administrative expenses related to the
Initiative, including administration of the grant
program under subsection (d).
``(B) Use of funds.--Amounts reserve under
subparagraph (A) may be used for--
``(i) planning, oversight, and management
of such grant program;
``(ii) monitoring of activities carried out
under this section;
``(iii) personnel, training, and other
administrative costs directly related to
carrying out this section; and
``(iv) such other administrative activities
as the Secretary determines appropriate to
carry out the purposes of this section.''.
Calendar No. 544
119th CONGRESS
2d Session
S. 3333
_______________________________________________________________________
A BILL
To modify the eligibility requirements and account contribution maximum
for pension-linked emergency savings accounts, and for other purposes.
_______________________________________________________________________
August 5, 2026
Reported with an amendment