To amend the Internal Revenue Code of 1986 to provide for penalty-free withdrawals from retirement accounts for certain emergency expenses, and for other purposes.
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.
Read twice and referred to the Committee on Finance.
Placed on Senate Legislative Calendar under General Orders. Calendar No. 480.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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