Raises the annual contribution cap for pension-linked emergency savings accounts from $2,500 to $5,000 and ties eligibility to each retirement plan's own age, service, and other requirements.

• Raises the contribution maximum for pension-linked emergency savings accounts from $2,500 to $5,000 in both the Employee Retirement Income Security Act and the Internal Revenue Code.
• Makes eligibility depend on the plan's own age, service, and other requirements, including for individuals who are not otherwise participants in a defined contribution plan.
• Applies the ERISA and tax code changes to taxable years beginning after December 31, 2026.
• Amends SECURE 2.0 Act section 346 to set authorized and appropriated funding for the employee ownership grant program for fiscal years 2025 through 2035, adds an inflation adjustment for fiscal years 2030 through 2035, and lets the Secretary reserve up to 5 percent for administration.

• Health, Education, Labor, and Pensions Committee (Senate)

Taxation