# 116-hr-6562: SAVERS Act

116-hr-6562, SAVERS Act, is a 116th Congress bill sponsored by Rep. McHenry, Patrick T. [R-NC-10] (R-NC); status Referred to the House Committee on Ways and Means. (as of 2025-11-18).

- Canonical: https://policyrisk.com/legislation/116-hr-6562
- As of: 2025-11-18
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 116-hr-6562
- Congress: 116
- Title: SAVERS Act
- Status: Referred to the House Committee on Ways and Means.
- Introduced: 2020-04-21
- Sponsor: Rep. McHenry, Patrick T. [R-NC-10] (R-NC)
- Cosponsors: 11
- Policy area: Taxation
- Touches household money: no
- Last recorded action: 2025-11-18

## Summary

Securing Additional Value for Every Retirement Saver Act or the SAVERS Act This bill increases contribution limits to certain tax-preferred retirement plans in taxable years beginning in 2020 by the lesser of 300% or the compensation of the plan participant that is includible in gross income. For purposes of determining the compensation of plan participants, the bill allows an election to use compensation for 2019 in lieu of 2020.

## Cosponsors (11)

- Rep. Huizenga, Bill [R-MI-4] (R-MI), 2020-04-24T00:00:00.000Z
- Rep. Emmer, Tom [R-MN-6] (R-MN), 2020-04-24T00:00:00.000Z
- Rep. Meuser, Daniel [R-PA-9] (R-PA), 2020-04-24T00:00:00.000Z
- Rep. Wagner, Ann [R-MO-2] (R-MO), 2020-04-24T00:00:00.000Z
- PETER KING (R-NY), 2020-04-24T00:00:00.000Z
- Rep. Stivers, Steve [R-OH-15] (R-OH), 2020-05-01T00:00:00.000Z
- Rep. Kustoff, David [R-TN-8] (R-TN), 2020-05-01T00:00:00.000Z
- Rep. McCaul, Michael T. [R-TX-10] (R-TX), 2020-05-01T00:00:00.000Z
- Rep. Riggleman, Denver [R-VA-5] (R-VA), 2020-05-01T00:00:00.000Z
- Rep. Lesko, Debbie [R-AZ-8] (R-AZ), 2020-05-26T00:00:00.000Z
- Rep. Wright, Ron [R-TX-6] (R-TX), 2020-06-24T00:00:00.000Z

## Related bills

- 116-hr-4305: PAWS for Veterans Therapy Act
- 116-hr-2423: Women's Suffrage Centennial Commemorative Coin Act
- 116-hr-6742: Protecting Life in Crisis Act
- 116-hr-7278: JUSTICE Act
- 116-hr-4692: Countering Turkish Aggression Act of 2019
- 116-hr-1980: Smithsonian Women’s History Museum Act

## Sources
- [116-hr-6562 on Congress.gov](https://www.congress.gov/bill/116th-congress/house-bill/6562)

## Related
- [116-hr-4305: PAWS for Veterans Therapy Act](https://policyrisk.com/legislation/116-hr-4305)
- [116-hr-2423: Women's Suffrage Centennial Commemorative Coin Act](https://policyrisk.com/legislation/116-hr-2423)
- [116-hr-6742: Protecting Life in Crisis Act](https://policyrisk.com/legislation/116-hr-6742)
- [116-hr-7278: JUSTICE Act](https://policyrisk.com/legislation/116-hr-7278)
- [116-hr-4692: Countering Turkish Aggression Act of 2019](https://policyrisk.com/legislation/116-hr-4692)
- [116-hr-1980: Smithsonian Women’s History Museum Act](https://policyrisk.com/legislation/116-hr-1980)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/116-hr-6562 (as of 2025-11-18).