29 U.S.C. § 1193c — Report to Congress on emergency savings accounts

FEDERAL · 29 U.S.C. · Chapter SUBCHAPTER I—PROTECTION OF EMPLOYEE BENEFIT RIGHTS

Report to Congress on emergency savings accounts

29 U.S.C. § 1193c

SubtitleB

ChapterSUBCHAPTER I—PROTECTION OF EMPLOYEE BENEFIT RIGHTS

Partpart 8—pension-linked emergency savings accounts

This text of 29 U.S.C. § 1193c (Report to Congress on emergency savings accounts) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

29 U.S.C. § 1193c.

Text

The Secretary of Labor and the Secretary of the Treasury shall—

(1)conduct a study on the use of emergency savings from individual account plan accounts, including emergency savings from a pension-linked emergency savings account regarding—

(A)whether the amount of the dollar limitation under section 1193(d)(1)(A) of this title is sufficient;

(B)whether the limitation on the contribution rate under section 1193(d)(2)(A) of this title is appropriate; and

(C)the extent to which plan sponsors offer such accounts and participants participate in such accounts and the resulting impact on participant retirement savings, including the impact on retirement savings leakage and the effect of such accounts on retirement plan participation by low- and moderate-income households; and

(2)not later t

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The Secretary of Labor and the Secretary of the Treasury shall—
(1) conduct a study on the use of emergency savings from individual account plan accounts, including emergency savings from a pension-linked emergency savings account regarding—
(A) whether the amount of the dollar limitation under section 1193(d)(1)(A) of this title is sufficient;
(B) whether the limitation on the contribution rate under section 1193(d)(2)(A) of this title is appropriate; and
(C) the extent to which plan sponsors offer such accounts and participants participate in such accounts and the resulting impact on participant retirement savings, including the impact on retirement savings leakage and the effect of such accounts on retirement plan participation by low- and moderate-income households; and
(2) not later than 7 years after December 29, 2022, submit to Congress a report on the findings of the study under paragraph (1).

Source Credit

History

(Pub. L. 93–406, title I, §804, as added Pub. L. 117–328, div. T, title I, §127(b)(1), Dec. 29, 2022, 136 Stat. 5323.)

Editorial Notes

Statutory Notes and Related Subsidiaries

Effective Date
Section applicable to plan years beginning after Dec. 31, 2023, see section 127(g) of Pub. L. 117–328, set out as an Effective Date of 2022 Amendment note under section 72 of Title 26, Internal Revenue Code.

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Bluebook (online)

29 U.S.C. § 1193c, Counsel Stack Legal Research, https://law.counselstack.com/usc/29/1193c.