Voice your opinion on congressional bill HR1084-116 and let lawmakers know your stance with UnPac!

Main Subject: Taxation

Family Savings Act of 2019

This bill modifies requirements for tax-exempt multi-employer and pooled employer retirement plans and expands qualified tuition plans (commonly known as 529 plans) to cover additional programs and expenses.

Among other things, the bill

treats certain education fellowships and stipend payments as compensation for Individual Retirement Account (IRA) purposes,
repeals the maximum age for contributions to a traditional IRA,
increases the credit limitation for small employer pension plan startup costs,
allows a new tax credit for small employer automatic enrollment plans,
exempts certain individuals with pension plan assets not exceeding $50,000 from required minimum distribution rules, and
modifies nondiscrimination rules to protect certain older pension plan participants,

Additionally, the bill (1) expands 529 plans to allow distributions for registered apprenticeship programs, education loan repayments, and certain elementary and secondary school expenses in addition to tuition; (2) allows unborn children to be beneficiaries of 529 plans; and (3) permits penalty free withdrawals from retirement plans for expenses related to the birth or adoption of a child.

HR1194-116, HR1439-116, HR1865-116, HR1993-116, HR2367-116, S321-116, S836-116, S1574-116, S2352-116, HR65-116, HR1007-116,

Categories

Administrative law and regulatory procedures Adoption and foster care Bank accounts, deposits, capital Business records Child care and development Consumer credit Department of Labor Elementary and secondary education Employee benefits and pensions Employment and training programs Financial services and investments Government information and archives Higher education Income tax deductions Income tax deferral Income tax exclusion Interest, dividends, interest rates Military personnel and dependents National Guard and reserves Bank accounts deposits capital Interest dividends interest rates Taxation

House floor actions Actions

IntroReferral

Feb. 07
2019

Referred to the Committee on Ways and Means, and in addition to the Committees on Education and Labor, and the Budget, 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.
Referred to the Committee on Ways and Means, and in addition to the Committees on Education and Labor, and the Budget, 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.
Referred to the Committee on Ways and Means, and in addition to the Committees on Education and Labor, and the Budget, 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.

Library of Congress Actions

IntroReferral
Feb. 07 2019	Introduced in House Introduced in House

House bill HR1084-116

Family Savings Act of 2019

Promote the cause!

Or use this QR code