# 119-hr-6324: Retirement Simplification and Clarity Act

119-hr-6324, Retirement Simplification and Clarity Act, is a 119th Congress bill sponsored by Rep. Panetta, Jimmy [D-CA-19] (D-CA); status introduced; PRIA reads it as touching household money (as of 2026-09-26).

- Canonical: https://policyrisk.com/legislation/119-hr-6324
- As of: 2026-09-26
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-hr-6324
- Congress: 119
- Title: Retirement Simplification and Clarity Act
- Status: introduced
- Introduced: 2025-11-28
- Sponsor: Rep. Panetta, Jimmy [D-CA-19] (D-CA)
- Cosponsors: 26
- Policy area: Taxation
- Touches household money: yes
- Last recorded action: 2026-09-26

## Summary

**Would create an in‑service rollover option allowing workers age 50 or older to move employer‑contributed 401(k) accrued benefits into an individual retirement annuity (IRA annuity) while still employed.** It would also require expanded, plain-language safe-harbor notices that explain tax, withholding, timing, and rollover choices. - Workers 50 or older would be able to directly roll all or part of the accrued benefit attributable to employer contributions into an IRA annuity before retirement. This applies to employer contributions made pursuant to the employee’s election. - All plan participants would get a standardized, plain-language explanation that includes a 30-day review period before action and a 60-day window to complete a rollover if a distribution is received. The notice must list key tax and withholding considerations and available rollover options. - Plan administrators would be required to provide the new safe-harbor disclosures and could rely on Treasury and IRS regulations and guidance to update the required disclosure items over time.

## Cosponsors (26)

- Rep. Downing, Troy [R-MT-2] (R-MT), 2026-09-24T00:00:00.000Z
- Rep. LaHood, Darin [R-IL-16] (R-IL), 2025-11-28T00:00:00.000Z
- Rep. Miller, Max L. [R-OH-7] (R-OH), 2025-11-28T00:00:00.000Z
- Rep. Fitzpatrick, Brian K. [R-PA-1] (R-PA), 2025-11-28T00:00:00.000Z
- Rep. Davis, Danny K. [D-IL-7] (D-IL), 2025-11-28T00:00:00.000Z
- Rep. Moran, Nathaniel [R-TX-1] (R-TX), 2025-11-28T00:00:00.000Z
- Rep. DelBene, Suzan K. [D-WA-1] (D-WA), 2025-11-28T00:00:00.000Z
- Rep. Schneider, Bradley Scott [D-IL-10] (D-IL), 2025-11-28T00:00:00.000Z
- Rep. Bresnahan, Robert P. [R-PA-8] (R-PA), 2025-12-19T00:00:00.000Z
- Rep. Walkinshaw, James R. [D-VA-11] (D-VA), 2026-04-02T00:00:00.000Z
- Rep. Riley, Josh [D-NY-19] (D-NY), 2026-04-22T00:00:00.000Z
- Rep. Thompson, Glenn [R-PA-15] (R-PA), 2026-04-27T00:00:00.000Z
- Rep. Lofgren, Zoe [D-CA-18] (D-CA), 2026-04-28T00:00:00.000Z
- Rep. Nunn, Zachary [R-IA-3] (R-IA), 2026-05-19T00:00:00.000Z
- Rep. Suozzi, Thomas R. [D-NY-3] (D-NY), 2026-05-19T00:00:00.000Z
- Rep. De La Cruz, Monica [R-TX-15] (R-TX), 2026-05-26T00:00:00.000Z
- Rep. Begich, Nicholas J. [R-AK-At Large] (R-AK), 2026-06-02T00:00:00.000Z
- Rep. García, Jesús G. "Chuy" [D-IL-4] (D-IL), 2026-06-04T00:00:00.000Z
- Rep. Kelly, Mike [R-PA-16] (R-PA), 2026-06-18T00:00:00.000Z
- Rep. Norcross, Donald [D-NJ-1] (D-NJ), 2026-06-29T00:00:00.000Z
- Rep. Miller, Carol D. [R-WV-1] (R-WV), 2026-08-03T00:00:00.000Z
- Rep. Wagner, Ann [R-MO-2] (R-MO), 2026-08-17T00:00:00.000Z
- Rep. Boyle, Brendan F. [D-PA-2] (D-PA), 2026-08-24T00:00:00.000Z
- Rep. Escobar, Veronica [D-TX-16] (D-TX), 2026-08-27T00:00:00.000Z
- Rep. Mackenzie, Ryan [R-PA-7] (R-PA), 2026-09-02T00:00:00.000Z
- Rep. Baird, James R. [R-IN-4] (R-IN), 2026-09-10T00:00:00.000Z

## Provisions PRIA read

- Clearer rollover notices from retirement plans: benefit, low. If enacted, plans could use a short plain-language notice to meet federal rollover rules for tax years beginning after December 31, 2025. The notice would give you 30 days to review and explain taxes and withholding, including the 10% early withdrawal tax. It would list payments that usually cannot…
- Workplace plan rollovers at age 50: benefit, low. If enacted, some workplace retirement plans could let you, at age 50 or older, move money by direct rollover to an individual retirement annuity. You could roll over all or part of your accrued benefit from employer contributions made under your election. Plans would choose whether to offer this op…

## Related bills

- 119-hr-2102: Major Richard Star Act
- 119-hr-979: AM Radio for Every Vehicle Act of 2025
- 119-hr-3514: Improving Seniors’ Timely Access to Care Act of 2025
- 119-hr-909: Crime Victims Fund Stabilization Act of 2025
- 119-hr-1262: Mikaela Naylon Give Kids a Chance Act
- 119-hr-6130: ASAP Act

## Sources
- [119-hr-6324 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/6324)

## Related
- [119-hr-2102: Major Richard Star Act](https://policyrisk.com/legislation/119-hr-2102)
- [119-hr-979: AM Radio for Every Vehicle Act of 2025](https://policyrisk.com/legislation/119-hr-979)
- [119-hr-3514: Improving Seniors’ Timely Access to Care Act of 2025](https://policyrisk.com/legislation/119-hr-3514)
- [119-hr-909: Crime Victims Fund Stabilization Act of 2025](https://policyrisk.com/legislation/119-hr-909)
- [119-hr-1262: Mikaela Naylon Give Kids a Chance Act](https://policyrisk.com/legislation/119-hr-1262)
- [119-hr-6130: ASAP Act](https://policyrisk.com/legislation/119-hr-6130)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-hr-6324 (as of 2026-09-26).