# 114-hr-5450: American Savings Account Act of 2016

114-hr-5450, American Savings Account Act of 2016, is a 114th Congress bill sponsored by Rep. Huffman, Jared [D-CA-2] (D-CA); status Referred to the House Committee on Ways and Means. (as of 2025-11-18).

- Canonical: https://policyrisk.com/legislation/114-hr-5450
- As of: 2025-11-18
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 114-hr-5450
- Congress: 114
- Title: American Savings Account Act of 2016
- Status: Referred to the House Committee on Ways and Means.
- Introduced: 2016-06-10
- Sponsor: Rep. Huffman, Jared [D-CA-2] (D-CA)
- Cosponsors: 1
- Policy area: Labor and Employment
- Touches household money: no
- Last recorded action: 2025-11-18

## Summary

American Savings Account Act of 2016 This bill amends the Employee Retirement Income Security Act of 1974 (ERISA) to establish a new retirement option for all employees and self-employed individuals to be known as the American Savings Account Fund. This fund operates in a manner similar to the Thrift Savings Fund, which is available to federal employees. The bill establishes an American Savings Account Board of Directors to establish policies for fund investment and management. The board shall select or establish a list of investment funds and options similar to those in the Thrift Savings Fund, among which participants may choose. The board shall establish an American Savings Account Fund Advisory Council to advise the board on matters relating to investment policies. The American Savings Account Fund is tax-exempt and contributions to, or distributions from, it are excludible from gross income.

## Cosponsors (1)

- Rep. Bonamici, Suzanne [D-OR-1] (D-OR), 2016-06-10T00:00:00.000Z

## Related bills

- 114-hr-6382: No Religious Registry Act
- 114-hr-6340: Presidential Accountability Act
- 114-hr-5962: SIMPLE Act
- 114-hr-5817: Atlantic Seismic Airgun Protection Act
- 114-hr-5587: Strengthening Career and Technical Education for the 21st Century Act
- 114-hr-5386: Presidential Tax Transparency Act

## Sources
- [114-hr-5450 on Congress.gov](https://www.congress.gov/bill/114th-congress/house-bill/5450)

## Related
- [114-hr-6382: No Religious Registry Act](https://policyrisk.com/legislation/114-hr-6382)
- [114-hr-6340: Presidential Accountability Act](https://policyrisk.com/legislation/114-hr-6340)
- [114-hr-5962: SIMPLE Act](https://policyrisk.com/legislation/114-hr-5962)
- [114-hr-5817: Atlantic Seismic Airgun Protection Act](https://policyrisk.com/legislation/114-hr-5817)
- [114-hr-5587: Strengthening Career and Technical Education for the 21st Century Act](https://policyrisk.com/legislation/114-hr-5587)
- [114-hr-5386: Presidential Tax Transparency Act](https://policyrisk.com/legislation/114-hr-5386)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/114-hr-5450 (as of 2025-11-18).