Title 29, LaborRelease 119-102

§1193c Report to Congress on Emergency Savings Accounts

Title 29 › CHAPTER 18 — EMPLOYEE RETIREMENT INCOME SECURITY PROGRAM › SUBCHAPTER I — PROTECTION OF EMPLOYEE BENEFIT RIGHTS › Subtitle B — Regulatory Provisions › part 8 — pension-linked emergency savings accounts › § 1193c

Last updated Aug 21, 2026|Official source

Summary

The Secretary of Labor and the Secretary of the Treasury must study how people use emergency savings kept in individual retirement plan accounts, including pension-linked emergency savings accounts. They must check whether the dollar limit in section 1193(d)(1)(A) and the contribution-rate cap in section 1193(d)(2)(A) are appropriate, how often these accounts are offered and used, and how they affect retirement savings, especially for low- and moderate-income households, and report the findings to Congress not later than 7 years after December 29, 2022.

Full Legal Text

Title 29, §1193c

Labor, Source: USLM XML via OLRC

The Secretary of Labor and the Secretary of the Treasury shall—

(1)conduct a study on the use of emergency savings from individual account plan accounts, including emergency savings from a pension-linked emergency savings account regarding—

(A)whether the amount of the dollar limitation under section 1193(d)(1)(A) of this title is sufficient;

(B)whether the limitation on the contribution rate under section 1193(d)(2)(A) of this title is appropriate; and

(C)the extent to which plan sponsors offer such accounts and participants participate in such accounts and the resulting impact on participant retirement savings, including the impact on retirement savings leakage and the effect of such accounts on retirement plan participation by low- and moderate-income households; and

(2)not later than 7 years after December 29, 2022, submit to Congress a report on the findings of the study under paragraph (1).

Legislative History

Notes & Related Subsidiaries

Statutory Notes and Related Subsidiaries

Effective Date

Section applicable to plan years beginning after Dec. 31, 2023, see section 127(g) of Pub. L. 117–328, set out as an

Effective Date

of 2022 Amendment note under section 72 of Title 26, Internal Revenue Code.

Reference

Citations & Metadata

Citation

29 U.S.C. § 1193c

Title 29, Labor

Last Updated

Aug 21, 2026

Release point: 119-102