H.R. 6757: Family Savings Act of 2018

115th Congress

To amend the Internal Revenue Code of 1986 to encourage retirement and family savings, and for other purposes.

Sponsor: Rep. Mike Kelly — R — PA

H.R. 6757, the Family Savings Act of 2018, would amend the tax code to modify requirements for tax-favored savings accounts and employer-provided retirement plans. The largest provisions include changes to the rules governing multiple and pooled employer retirement plans, the creation of new tax-preferred “Universal Savings Accounts,” to which an individual would be able to contribute up to $2,500 each year, and an exemption from required minimum distribution rules for individuals with account balances below certain amounts.

View the full vote history of this bill on GovTrack.us.