S. 4808: EARN Act
CBO Score
$11.68 billion
Documentation
Date of Report
Fri September 23rd, 2022
CBO Report Details
Legislation Details
117th Congress
An original bill to amend the Internal Revenue Code of 1986 to reform retirement provisions, and for other purposes.
Sponsor: Sen. Ron Wyden — D — OR
Amends portions of the Internal Revenue Code of 1986 related to retirement plans and tax-favored savings accounts. Several of the bill’s provisions would reduce revenues significantly by providing matching payments for elective deferral and individual retirement arrangement (IRA) contributions and raising the age at which required minimum distributions from defined contribution retirement plans or traditional IRAs must begin. Other provisions would increase revenues by directing some retirement plans to require the designation of catch-up contributions as Roth contributions and allowing some plans to permit employees to designate their employers’ matching contributions as Roth contributions.
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