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S 2474 108th Congress Senate

Guardsmen and Reservists Financial Relief Act of 2004

Official title: A bill to amend the Internal Revenue Code of 1986 to allow penalty-free withdrawals from retirement plans during the period that a military reservist or nation… Show full official titleShow less

Official title: A bill to amend the Internal Revenue Code of 1986 to allow penalty-free withdrawals from retirement plans during the period that a military reservist or national guardsman is called to active duty for an extended period, and for other purposes.

Introduced: May 21, 2004 See on congress.gov
Taxation Armed Forces and National SecurityArmed forces reservesIncome taxIndividual retirement accounts
More subjectsShow fewer subjects
Labor and EmploymentNational GuardPension fundsTax exclusionTax penaltiesTax-deferred compensation plans
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This bill died when the 108th Congress ended
It never became law before the 108th Congress (2003–2004) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 21, 2004
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S6093)
May 21, 2004
Sponsor introductory remarks on measure. (CR S6093)
May 21, 2004
Introduced in Senate
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 Latest action May 21, 2004

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S6093)

 Plain-English summary Congressional Research Service

Guardsmen and Reservists Financial Relief Act of 2004 - Amends the Internal Revenue Code to exempt from the ten percent penalty on early distributions from tax-exempt retirement plans withdrawals made by military reservists or national guardsmen called to active duty for a period in excess of 179 days or for an indefinite period. Permits reimbursement of such withdrawals within two years after the end of the active duty period.

Applies the provisions of this Act to individuals ordered or called to active duty after September 11, 2001, and before September 12, 2005, for retirement plan distributions made after September 11, 2001.

 Related & companion bills 2
  • HR 1779 Identical bill Guardsmen and Reservists Financial Relief Act of 2004
  • S 2375 Identical bill Guardsmen and Reservists Financial Relief Act of 2004
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1
D
Durbin, Richard J.
Illinois · May 21, 2004
Cite this page click to expand
APA
U.S. Congress. (2026). S. 2474: Guardsmen and Reservists Financial Relief Act of 2004. 108th Congress. Open America. https://openamerica.io/bill/108-S-2474/
MLA
"S. 2474: Guardsmen and Reservists Financial Relief Act of 2004." 108th Congress, 2026, Open America, https://openamerica.io/bill/108-S-2474/.
Bluebook (legal)
S. 2474, 108th Cong. (2026), https://openamerica.io/bill/108-S-2474/.
Markdown link
[S. 2474: Guardsmen and Reservists Financial Relief Act of 2004](https://openamerica.io/bill/108-S-2474/)
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