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Emergency Savings Enhancement Act of 2025

Official title: A bill to modify the eligibility requirements and account contribution maximum for pension-linked emergency savings accounts, and for other purposes.

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How Congress Voted

What Happened in Congress?

Pending

Not yet voted on the floor.

Where the Bill Stands

  1. Introduced, done
  2. Committee, done
  3. Floor Vote, current stage
  4. Outcome, not yet

What This Bill Does

This bill expands eligibility and increases the maximum contribution limit for pension-linked emergency savings accounts (PLESAs).

As background, PLESAs are savings accounts that are established and maintained in connection with a defined contribution retirement plan, such as a 401(k). Contributions to such accounts are subject to federal income tax, and withdrawals are allowed for any reason.

The bill expands eligibility for PLESAs by eliminating the exclusion of highly compensated employees. Thus, under the bill, individuals who meet the age, service, and other eligibility requirements of the plan, regardless of compensation, are eligible to participate in such a plan.

The bill also increases the maximum limit on the portion of a PLESA balance attributable to participant contributions to $5,000 (from $2,600 in 2026). This limit continues to be adjusted for inflation.

The bill also extends and provides additional funding for a Department of Labor program that awards grants to states to promote employee ownership and participation in businesses.

Sponsors

Related Documents

Bill on Congress.govWeb Page ↗ (opens in a new tab)

Timeline

  1. SenateCommittee on Health, Education, Labor, and Pensions. Reported by Senator Cassidy with an amendment in the nature of a substitute. Without written report.
  2. SenateCommittee on Health, Education, Labor, and Pensions. Ordered to be reported with an amendment in the nature of a substitute favorably.
  3. Library of CongressIntroduced in Senate
  4. SenateRead twice and referred to the Committee on Health, Education, Labor, and Pensions.
  5. Introduced
  6. Committee

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