§1193c — Title 29 Labor | U.S. Code

§1193c Report to Congress on emergency savings accounts

Title 29 › Chapter CHAPTER 18— - EMPLOYEE RETIREMENT INCOME SECURITY PROGRAM › Subchapter SUBCHAPTER I— - PROTECTION OF EMPLOYEE BENEFIT RIGHTS › Subtitle Subtitle B— - Regulatory Provisions › Part part 8— - pension-linked emergency savings accounts › § 1193c

Last updated Apr 6, 2026|Official source

Summary

The Secretary of Labor and the Secretary of the Treasury must study how people use emergency savings held inside individual retirement accounts, including pension-linked emergency savings. The study must check whether the dollar limit and the contribution-rate limit are appropriate, how often plans offer these accounts, who uses them, and how they affect retirement savings, especially for low- and moderate-income households. They must send a report of the findings to Congress no later than 7 years after December 29, 2022.

Title 29, §1193c

Labor — Source: USLM XML via OLRC

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).

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.

§1193c Report to Congress on emergency savings accounts

Summary

Title 29, §1193c

Notes & Related Subsidiaries

Statutory Notes and Related Subsidiaries

Effective Date

Effective Date

Citations & Metadata