115-hr-5282115th Congress

Retirement Enhancement and Savings Act of 2018

Sponsored By: Representative Kelly, Mike [R-PA-16]

Unknown

Summary

Retirement Enhancement and Savings Act of 2018 This bill amends the Internal Revenue Code and the Employee Retirement Income Security Act of 1974 (ERISA) to modify requirements for tax-favored retirement savings accounts, employer-provided retirement plans, and retirement benefits for federal judges. With respect to employer-provided plans, the bill modifies requirements regarding: multiple employer plans, automatic enrollment and nonelective contributions, loans, terminating or transferring plans, reporting and disclosure rules, nondiscrimination rules, selecting lifetime income providers, and Pension Benefit Guaranty Corporation premiums. The bill also increases the tax credit for small employer pension plan startup costs and allows a tax credit for small employers that establish retirement plans that include automatic enrollment. With respect to Individual Retirement Accounts (IRAs), the bill: treats taxable non-tuition fellowship and stipend payments as compensation, repeals the maximum age for traditional IRA contributions, and permits any IRA to be a shareholder of any S corporation that is a bank. The bill makes several modifications to retirement benefits for magistrate judges of the U.S. Tax Court and other federal judges. The bill also modifies various tax provisions to: reinstate and increase the tax exclusion for benefits provided to volunteer firefighters and emergency medical responders, revise the required distribution rules for pension plans, increase penalties for failing to file tax or retirement plan returns, and require the Internal Revenue Service to share returns and return information with U.S. Customs Border Protection to administer the heavy vehicle use tax.

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & CoSponsors

Sponsor

Kelly, Mike [R-PA-16]

PA • R

Cosponsors

Rep. Curbelo, Carlos [R-FL-26]
FL • R
Sponsored 3/15/2018
SUSAN DAVIS
CA • D
Sponsored 3/15/2018
Rep. Noem, Kristi L. [R-SD-At Large]
SD • R
Sponsored 3/15/2018
Rep. Kind, Ron [D-WI-3]
WI • D
Sponsored 3/14/2018
Rep. Bishop, Mike [R-MI-8]
MI • R
Sponsored 3/14/2018
Rep. Larson, John B. [D-CT-1]
CT • D
Sponsored 3/14/2018
Rep. Meehan, Patrick [R-PA-7]
PA • R
Sponsored 3/14/2018
Rep. Pascrell, Bill, Jr. [D-NJ-9]
NJ • D
Sponsored 3/14/2018
Rep. Holding, George [R-NC-2]
NC • R
Sponsored 3/14/2018
Rep. Sánchez, Linda T. [D-CA-38]
CA • D
Sponsored 3/14/2018
Rep. Rice, Tom [R-SC-7]
SC • R
Sponsored 3/14/2018
Sen. Blunt Rochester, Lisa [D-DE]
DE • D
Sponsored 3/14/2018
Rep. Walorski, Jackie [R-IN-2]
IN • R
Sponsored 3/14/2018
Rep. Pocan, Mark [D-WI-2]
WI • D
Sponsored 3/14/2018
Rep. Sessions, Pete [R-TX-17]
TX • R
Sponsored 3/14/2018
Rep. Adams, Alma S. [D-NC-12]
NC • D
Sponsored 3/14/2018
Rep. Gibbs, Bob [R-OH-7]
OH • R
Sponsored 3/14/2018
Rep. Velázquez, Nydia M. [D-NY-7]
NY • D
Sponsored 3/14/2018
Rep. Schrader, Kurt [D-OR-5]
OR • D
Sponsored 3/15/2018
Rep. Thompson, Bennie G. [D-MS-2]
MS • D
Sponsored 3/20/2018
Rep. Arrington, Jodey C. [R-TX-19]
TX • R
Sponsored 3/20/2018
Rep. Norcross, Donald [D-NJ-1]
NJ • D
Sponsored 3/20/2018
Rep. Messer, Luke [R-IN-6]
IN • R
Sponsored 4/10/2018
WALTER JONES
NC • R
Sponsored 4/10/2018
Rep. Coffman, Mike [R-CO-6]
CO • R
Sponsored 4/10/2018
Rep. Tipton, Scott R. [R-CO-3]
CO • R
Sponsored 4/10/2018
Rep. Rogers, Harold [R-KY-5]
KY • R
Sponsored 4/13/2018
Rep. Gonzalez, Vicente [D-TX-34]
TX • D
Sponsored 4/13/2018
Rep. Price, David E. [D-NC-4]
NC • D
Sponsored 4/13/2018
COLLIN PETERSON
MN • D
Sponsored 4/23/2018
Rep. Kuster, Ann M. [D-NH-2]
NH • D
Sponsored 4/26/2018
Rep. Gianforte, Greg [R-MT-At Large]
MT • R
Sponsored 4/26/2018
Rep. Rouzer, David [R-NC-7]
NC • R
Sponsored 4/26/2018
Sen. Banks, Jim [R-IN]
IN • R
Sponsored 4/26/2018
Rep. Bonamici, Suzanne [D-OR-1]
OR • D
Sponsored 4/26/2018
JOSE SERRANO
NY • D
Sponsored 4/26/2018
Rep. Loebsack, David [D-IA-2]
IA • D
Sponsored 5/17/2018
Rep. Young, David [R-IA-3]
IA • R
Sponsored 5/17/2018
Rep. Grothman, Glenn [R-WI-6]
WI • R
Sponsored 5/21/2018
Rep. Hudson, Richard [R-NC-9]
NC • R
Sponsored 6/5/2018
Rep. Pallone, Frank [D-NJ-6]
NJ • D
Sponsored 6/5/2018
Rep. Cole, Tom [R-OK-4]
OK • R
Sponsored 6/5/2018
Rep. Mooney, Alexander X. [R-WV-2]
WV • R
Sponsored 6/5/2018
Sen. Budd, Ted [R-NC]
NC • R
Sponsored 6/5/2018
Rep. Faso, John J. [R-NY-19]
NY • R
Sponsored 6/5/2018
Rep. Barletta, Lou [R-PA-11]
PA • R
Sponsored 6/6/2018
Rep. Sewell, Terri A. [D-AL-7]
AL • D
Sponsored 6/6/2018
Rep. MacArthur, Thomas [R-NJ-3]
NJ • R
Sponsored 6/6/2018
Rep. Latta, Robert E. [R-OH-5]
OH • R
Sponsored 6/6/2018
LAMAR SMITH
TX • R
Sponsored 6/6/2018
Rep. Barr, Andy [R-KY-6]
KY • R
Sponsored 6/13/2018
SAM JOHNSON
TX • R
Sponsored 6/14/2018
Rep. Turner, Michael R. [R-OH-10]
OH • R
Sponsored 6/14/2018
Rep. Ross, Dennis A. [R-FL-15]
FL • R
Sponsored 7/12/2018
Rep. Kildee, Daniel T. [D-MI-8]
MI • D
Sponsored 7/12/2018
Rep. Bacon, Don [R-NE-2]
NE • R
Sponsored 7/12/2018
Rep. DelBene, Suzan K. [D-WA-1]
WA • D
Sponsored 7/26/2018
Rep. Chu, Judy [D-CA-28]
CA • D
Sponsored 7/26/2018
Rep. Beyer, Donald S. [D-VA-8]
VA • D
Sponsored 7/26/2018
Rep. Carbajal, Salud O. [D-CA-24]
CA • D
Sponsored 8/3/2018
Rep. Wilson, Frederica S. [D-FL-24]
FL • D
Sponsored 8/3/2018
Rep. Denham, Jeff [R-CA-10]
CA • R
Sponsored 8/3/2018
Rep. Boyle, Brendan F. [D-PA-2]
PA • D
Sponsored 8/3/2018
Rep. Smith, Christopher H. [R-NJ-4]
NJ • R
Sponsored 8/3/2018
Rep. Blumenauer, Earl [D-OR-3]
OR • D
Sponsored 8/10/2018
Rep. Wilson, Joe [R-SC-2]
SC • R
Sponsored 8/17/2018
Rep. Higgins, Brian [D-NY-26]
NY • D
Sponsored 9/4/2018
Rep. Stefanik, Elise M. [R-NY-21]
NY • R
Sponsored 9/4/2018
Rep. Brooks, Susan W. [R-IN-5]
IN • R
Sponsored 9/4/2018
Rep. Blum, Rod [R-IA-1]
IA • R
Sponsored 9/4/2018
Rep. Handel, Karen C. [R-GA-6]
GA • R
Sponsored 9/5/2018
Rep. Huizenga, Bill [R-MI-4]
MI • R
Sponsored 9/5/2018
Rep. Thompson, Glenn [R-PA-15]
PA • R
Sponsored 9/12/2018
Rep. Comstock, Barbara [R-VA-10]
VA • R
Sponsored 9/12/2018
Rep. Ruppersberger, C. A. Dutch [D-MD-2]
MD • D
Sponsored 9/13/2018
Rep. Deutch, Theodore E. [D-FL-22]
FL • D
Sponsored 9/13/2018
Rep. Valadao, David G. [R-CA-22]
CA • R
Sponsored 9/24/2018
Rep. Duncan, Jeff [R-SC-3]
SC • R
Sponsored 9/24/2018
Rep. Calvert, Ken [R-CA-41]
CA • R
Sponsored 9/24/2018
JOE BARTON
TX • R
Sponsored 9/24/2018
Rep. Perlmutter, Ed [D-CO-7]
CO • D
Sponsored 9/25/2018
Rep. Shea-Porter, Carol [D-NH-1]
NH • D
Sponsored 9/27/2018
Rep. Lewis, Jason [R-MN-2]
MN • R
Sponsored 10/23/2018
Rep. Flores, Bill [R-TX-17]
TX • R
Sponsored 10/23/2018
Rep. Herrera Beutler, Jaime [R-WA-3]
WA • R
Sponsored 10/23/2018
Rep. Newhouse, Dan [R-WA-4]
WA • R
Sponsored 11/2/2018
Rep. Kilmer, Derek [D-WA-6]
WA • D
Sponsored 12/10/2018
WM. CLAY
MO • D
Sponsored 12/10/2018
Rep. DeFazio, Peter A. [D-OR-4]
OR • D
Sponsored 12/10/2018
Rep. Tonko, Paul [D-NY-20]
NY • D
Sponsored 12/10/2018
Rep. Rogers, Mike D. [R-AL-3]
AL • R
Sponsored 12/10/2018

Roll Call Votes

No roll call votes available for this bill.

View on Congress.gov

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Back to Legislation

Retirement Enhancement and Savings Act of 2018

Summary

How does this bill affect your finances?

Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & CoSponsors

Sponsor

Cosponsors

Roll Call Votes

Related Bills

Live Policy Activity

Not In My Barn Yard Act

Other Activity On This Topic

DOL Rewrites Disability Rules for 'Merit-Based Opportunity' Push

How These Connect

Deep Dive

Federal Debt & the Debt Ceiling

Commercial Space Launch & Regulation

Related Bills

Live Policy Activity

Not In My Barn Yard Act

Other Activity On This Topic

DOL Rewrites Disability Rules for 'Merit-Based Opportunity' Push

How These Connect

Deep Dive

Federal Debt & the Debt Ceiling

Commercial Space Launch & Regulation

Labor Updates Vietnam Vets' Job Rules After EO Shakeup

Guam Harbor Locks Down for Secret Service VIP Visit

Expressing support for the designation of August 22, 2026, as "Chuck Brown Day", and honoring Chuck Brown's contributions to music and to the District of Columbia.

No Insider Trading on National Security Act of 2026

Crossett Experimental Forest Act of 2026

National Space Grant College Program

Advisory Council on Historic Preservation