Retirement Enhancement and Savings Act of 2019

Where This Stands

Introduced

Committee

Floor Vote

Passed

Signed

Currently IN_COMMITTEE. The next step in the legislative lifecycle is Floor Vote.

Version history

Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.

View official text →

The Frame

What this does

The bill changes how millions of Americans save for retirement by allowing small employers to pool resources for plans, increasing tax credits for startup costs, and requiring faster distribution of inherited retirement accounts for balances over $450,000.

Who is mentioned in the record

Potentially affected actors named in the source documents. Mention is not a position.

Small business owners

They gain access to pooled retirement plans and increased tax credits for startup costs.

Retirement plan participants

They will see new lifetime income disclosures on their benefit statements and face new rules on inherited account distributions.

Tax Court judges

Their titles, retirement programs, and annuity rules are modified by the bill.

Volunteer firefighters and emergency responders

The tax-free payment limit for their benefits is increased.

What changed

Current stage: IN_COMMITTEE.

What's next

Floor Vote.

Summary

This bill introduces new rules to make it easier for small businesses to offer retirement plans, allows older workers to contribute to IRAs longer, and changes how retirement accounts are handled after an owner dies. It also updates administrative rules for pension plans and modifies benefits for Tax Court judges.

Key Facts

You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.

Frequently Asked Questions

Can I still contribute to my traditional IRA after age 70?

Yes, this bill repeals the maximum age limit for traditional IRA contributions.

What happens to my retirement account if I die?

If your total account balance exceeds $450,000, the bill requires the money to be distributed to your beneficiaries within 5 years, unless they are a spouse, disabled, chronically ill, or a minor child.

Are there new rules for small business retirement plans?

Yes, the bill creates 's' to help small businesses offer retirement benefits more easily and increases tax credits for starting these plans.

Why It Matters

The bill changes how millions of Americans save for retirement by allowing small employers to pool resources for plans, increasing tax credits for startup costs, and requiring faster distribution of inherited retirement accounts for balances over $450,000.

News Coverage

No news coverage found yet. Articles are indexed twice daily.

Discoveries

Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.

policy shift90% confidence

Shift toward pooled retirement plans

The bill signals a major policy push to encourage small businesses to offer retirement plans by reducing the administrative burden through pooling.

Small business owners

policy shift90% confidence

Tightening of inherited retirement accounts

The bill introduces a $450,000 threshold for inherited retirement accounts, forcing faster distribution of large balances, which marks a change from previous tax-deferral strategies.

Retirement plan participants

Connected Entities

organizationCongress“The legislative body considering the bill”Map →

personSanchez, Ms.“Sponsor of the bill”Map →

personKind, Mr.“Lead sponsor of the bill”Map →

personHiggins of New York, Mr.“Sponsor of the bill”Map →

personLarson of Connecticut, Mr.“Sponsor of the bill”Map →

personJudy Chu of California, Ms.“Sponsor of the bill”Map →

personBlumenauer, Mr.“Sponsor of the bill”Map →

personPascrell, Mr.“Sponsor of the bill”Map →

organizationEducation and Labor Committee“Committee responsible for considering the bill”Map →

organizationUnited States Government Publishing Office“Source of the Congressional Bill”Map →

organizationWays and Means Committee“Committee responsible for considering the bill”Map →

personKelly of Pennsylvania, Mr.“Sponsor of the bill”Map →

bill_numberInternal Revenue Code of 1986“The core legal framework being amended.”Map →

personHolding, Mr.“Sponsor of the bill”Map →

personKildee, Mr.“Sponsor of the bill”Map →

personBeyer, Ms.“Sponsor of the bill”Map →

Analysis Score

0–100

Significance90
How much this matters to a regular citizen
Controversy20
Intensity of disagreement among stakeholders
Entertainment5
Compellingness for a non-policy-wonk reader
Buzz30
Current news / social attention level