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S 2601 117th Congress Senate Labor and Employment Administrative law and regulatory procedures Bank accounts, deposits, capital Congressional oversight Department of the Treasury Employee benefits and pensions Federal preemption Government studies and investigations State and local government operations Wages and earnings

Strengthening Financial Security Through Short-Term Savings Accounts Act of 2021

Introduced: August 4, 2021 Introduced by: Booker, Cory A. Democratic · New Jersey See on congress.gov
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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
Aug 4, 2021
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Aug 4, 2021
Introduced in Senate
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 Plain-English summary Congressional Research Service

Strengthening Financial Security Through Short-Term Savings Accounts Act of 2021

This bill allows employers to enroll employees in short-term savings accounts that are funded using automatic contributions deducted from participating employees' wages.

For each pay period, the employer must transfer to the account an amount equal to the percentage of the employee's compensation or a fixed amount, as determined by the employer.

Employees may elect to adjust, stop, or pause their contributions. The balance in an account may not exceed $10,000 (adjusted annually for inflation) and must be made readily available to the employee at any time.

What's happening now August 4, 2021

Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1
R
Young, Todd
Indiana · Aug 4, 2021
Cite this page click to expand
APA
U.S. Congress. (2026). S. 2601: Strengthening Financial Security Through Short-Term Savings Accounts Act of 2021. 117th Congress. Open America. https://openamerica.io/bill/117-S-2601/
MLA
"S. 2601: Strengthening Financial Security Through Short-Term Savings Accounts Act of 2021." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-S-2601/.
Bluebook (legal)
S. 2601, 117th Cong. (2026), https://openamerica.io/bill/117-S-2601/.
Markdown link
[S. 2601: Strengthening Financial Security Through Short-Term Savings Accounts Act of 2021](https://openamerica.io/bill/117-S-2601/)
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