The Helping Young Americans Save for Retirement Act

Direct Link: https://www.govinfo.gov/app/details/BILLS-119s1707is

S. 1707 – To amend the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code of 1986 with respect to minimum participation standards for pension plans and qualified trusts.

This Act may be cited as the ‘‘Helping Young Americans Save for Retirement Act’’.

SECTION 1. SHORT TITLE

This Act may be cited as the ‘‘Helping Young Americans Save for Retirement Act’’.

SECTION 2. ELIGIBILITY AT AGE 18 UNDER CERTAIN CONDITIONS

(a) ERISA.—

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29 U.S.C. 1052(c)(1)

(1) AGE 18.

Age 18.
Subparagraphs (A) and (B) of section 202(c)(1) of the Employee Retirement Income Security Act of 1974 are amended to read as follows:

‘‘(A) the period permitted under subsection(a)(1), determined—
‘‘(i) without regard to subparagraph(B)(i) thereof; and
‘‘(ii) by substituting ‘18’ for ‘21’ in subparagraph (A)(i) thereof;
B. CONFORMING AMENDMENTS.

Section 202(c) of such Act (29 U.S.C. 1052(c)) is amended—

(A) in the subsection heading, by striking ‘‘SPECIAL RULE’’ and inserting ‘‘SPECIAL RULES’’;

(i) by adding ‘‘AND CERTAIN YOUNGER EMPLOYEES’’ after ‘‘EMPLOYEES’’;

(ii) by adding ‘‘AND CERTAIN YOUNGER EMPLOYEES’’ after ‘‘EMPLOYEES’’ in paragraph (3)