Us Code § 1193c - Report to Congress on emergency savings accounts
Full text of Us Code United States Code § 1193c — Report to Congress on emergency savings accounts, with citation guidance and answers to common questions.
§ 1193c. Report to Congress on emergency savings accounts
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).
(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.)
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.
SUBCHAPTER II—JURISDICTION, ADMINISTRATION, ENFORCEMENT; JOINT PENSION TASK FORCE, ETC.
Subtitle A—Jurisdiction, Administration, and Enforcement
About This Section
29 U.S.C. § 1193c is part of Title 29 of the United States Code. The United States Code is the official codification of federal statutes maintained by the Office of the Law Revision Counsel of the U.S. House of Representatives. Congress amends the Code through new public laws, which are eventually incorporated into the relevant title.
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