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S. 1870 117th Congress Senate

Enhancing Emergency and Retirement Savings Act of 2021

Official title: A bill to amend the Internal Revenue Code of 1986 to provide for penalty-free withdrawals from retirement accounts for certain emergency expenses, and for other purposes.

Introduced: May 27, 2021 Introduced by: James Lankford Republican · Oklahoma See on congress.gov
Taxation Employee benefits and pensionsIncome tax deferralIncome tax exclusionSales and excise taxes
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This bill died when the 117th Congress ended
It never became law before the 117th Congress (2021–2022) 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 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 27, 2021
Read twice and referred to the Committee on Finance.
May 27, 2021
Introduced in Senate
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 Latest action May 27, 2021

Read twice and referred to the Committee on Finance.

 Plain-English summary Congressional Research Service

Enhancing Emergency and Retirement Savings Act of 2021

This bill permits penalty-free distributions, up to $1,000, from tax-exempt retirement plans for emergency personal expenses, limited to one distribution in a calendar year. The bill allows repayment to plans of such distributions over a three-year period.

 Related & companion bills 2
  • S 4808 EARN Act
  • HR 7146 Enhancing Emergency and Retirement Savings Act of 2022
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1
D
Bennet, Michael F.
Colorado · May 27, 2021
Cite this page click to expand
APA
U.S. Congress. (2026). S. 1870: Enhancing Emergency and Retirement Savings Act of 2021. 117th Congress. Open America. https://openamerica.io/bill/117-S-1870/
MLA
"S. 1870: Enhancing Emergency and Retirement Savings Act of 2021." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-S-1870/.
Bluebook (legal)
S. 1870, 117th Cong. (2026), https://openamerica.io/bill/117-S-1870/.
Markdown link
[S. 1870: Enhancing Emergency and Retirement Savings Act of 2021](https://openamerica.io/bill/117-S-1870/)
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