§1193c Report to Congress on Emergency Savings Accounts

Summary

The Secretary of Labor and the Secretary of the Treasury must study how people use emergency savings inside individual retirement plan accounts, including pension-linked emergency accounts. The study must check if the dollar limit in section 1193(d)(1)(A) and the contribution-rate limit in section 1193(d)(2)(A) are right, and how often plans offer these accounts, how many people use them, and how they affect retirement savings (including people withdrawing money and effects on low- and moderate-income households). They must send a report to Congress on their findings not later than 7 years after December 29, 2022.