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119-s-1707119th CongressWALLET

Helping Young Americans Save for Retirement Act

Sponsored By: Senator Cassidy, Bill [R-LA]

Introduced

Summary

Expand early retirement plan eligibility for 18-year-olds. This bill would let certain 18-year-old employees join employer retirement plans sooner by replacing the usual age-21 rule with age 18 or by letting workers qualify after 500 hours in each of two consecutive 12-month periods.

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  • Younger workers: Some 18-year-olds could start contributing to 401(k) or 403(b) plans earlier if they meet the age test or accumulate 500 hours across two consecutive 12-month periods.
  • Employers and plan administrators: Plans must change eligibility rules and participant counts. Employees who participate solely because of this rule would not be counted as plan participants for 5 years after the first such participant joins.
  • Law alignment and timing: The bill updates ERISA and Internal Revenue Code cross-references for 401(k), 403(b), and section 410 rules to ensure consistent application. The changes apply to plan years beginning 1 year after enactment.

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 1 benefits, 1 costs, 0 mixed.

Allow 18-year-olds into retirement plans

If enacted, you would be able to join your employer's retirement plan at age 18 instead of 21. If you do not meet the age test, you could also qualify after two back-to-back 12-month periods with at least 500 hours in each. These changes would apply to pension plans, 401(k) plans, and 403(b) plans for plan years beginning one year after enactment.

Delay counting young plan participants

If enacted, your employer would not count you in plan participant totals for five years if you joined only because of the new age‑18 rule. This affects certain participant-counting and compliance rules that plans use. The rule would apply for plan years beginning one year after enactment.

Sponsors & CoSponsors

Sponsor

Cassidy, Bill [R-LA]

LA • R

Cosponsors

  • Sen. Kaine, Tim [D-VA]

    VA • D

    Sponsored 5/12/2025

  • Sen. Shaheen, Jeanne [D-NH]

    NH • D

    Sponsored 11/18/2025

  • Sen. Tuberville, Tommy [R-AL]

    AL • R

    Sponsored 11/20/2025

  • Sen. Husted, Jon [R-OH]

    OH • R

    Sponsored 12/3/2025

  • Sen. Warnock, Raphael G. [D-GA]

    GA • D

    Sponsored 12/16/2025

  • Sen. Collins, Susan M. [R-ME]

    ME • R

    Sponsored 1/6/2026

  • Sen. Alsobrooks, Angela D. [D-MD]

    MD • D

    Sponsored 2/10/2026

Roll Call Votes

No roll call votes available for this bill.

View on Congress.gov
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