H.R. 4718

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4718 Introduced in House (IH)]

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119th CONGRESS
1st Session
H. R. 4718

To amend the Employee Retirement Income Security Act of 1974 and the 
Internal Revenue Code of 1986 with respect to minimum participation 
standards for pension plans and qualified trusts.

_______________________________________________________________________

IN THE HOUSE OF REPRESENTATIVES

July 23, 2025

Ms. Pettersen (for herself and Mr. Rulli) introduced the following 
bill; which was referred to the Committee on Ways and Means, and in 
addition to the Committee on Education and Workforce, for a period to 
be subsequently determined by the Speaker, in each case for 
consideration of such provisions as fall within the jurisdiction of the 
committee concerned

_______________________________________________________________________

A BILL

To amend the Employee Retirement Income Security Act of 1974 and the 
Internal Revenue Code of 1986 with respect to minimum participation 
standards for pension plans and qualified trusts.

Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the ``Helping Young Americans Save for 
Retirement Act''.

SEC. 2. ELIGIBILITY AT AGE 18 UNDER CERTAIN CONDITIONS.

(a) ERISA.--
(1) Age 18.--Subparagraphs (A) and (B) of section 202(c)(1) 
of the Employee Retirement Income Security Act of 1974 (29 
U.S.C. 1052(c)(1)) are amended to read as follows:
``(A) the period permitted under subsection (a)(1), 
determined--
``(i) without regard to subparagraph (B)(i) 
thereof; and
``(ii) by substituting `18' for `21' in 
subparagraph (A)(i) thereof; or
``(B) the first 24-month period--
``(i) consisting of 2 consecutive 12-month 
periods during each of which the employee has 
at least 500 hours of service; and
``(ii) by the close of which the employee 
has met the requirement of subsection 
(a)(1)(A)(i) (without regard to subparagraph 
(A)(ii) of this paragraph).''.
(2) Conforming amendments.--Section 202(c) of such Act (29 
U.S.C. 1052(c)) is amended--
(A) in the subsection heading--
(i) by striking ``Special Rule'' and 
inserting ``Special Rules''; and
(ii) by adding ``and Certain Younger 
Employees'' after ``Employees''; and
(B) in paragraph (3)--
(i) by striking ``paragraph (1)(B)'' and 
inserting ``paragraph (1)''; and
(ii) by striking ``section 
401(k)(2)(D)(ii)'' and inserting ``section 
401(k)(2)(D)''.
(3) Opinion of independent qualified public accountant.--
Section 104(a)(2) of such Act (29 U.S.C. 1024(a)(2)) is amended 
by adding at the end the following:
``(C) For purposes of subparagraph (A) and the last sentence of 
section 103(a)(3)(A), with respect to a pension plan in which at least 
one employee participates solely by reason of section 202(c)(1)(A), no 
employee participating in such plan solely by reason of section 
202(c)(1)(A) shall be counted as a participant until the date that is 5 
years after the date on which the first such employee first becomes a 
participant in such plan.''.
(b) Internal Revenue Code of 1986.--
(1) Age 18.--Clauses (i) and (ii) of section 401(k)(2)(D) 
of the Internal Revenue Code of 1986 are amended to read as 
follows:
``(i) the period permitted under section 
410(a)(1), determined--
``(I) without regard to 
subparagraph (B)(i) thereof, and
``(II) by substituting `18' for 
`21' in subparagraph (A)(i) thereof, or
``(ii) subject to the provisions of 
paragraph (15), the first of 2 consecutive 12-
month periods during each of which the employee 
has at least 500 hours of service, provided 
that the employee has satisfied the 
requirements of section 410(a)(1)(A)(i) 
(without regard to clause (i)(II) of this 
subparagraph).''.
(2) Conforming amendments.--The Internal Revenue Code of 
1986 is amended--
(A) in section 401(k)(15)--
(i) in the paragraph heading, by adding 
``and certain younger workers'' after 
``workers''; and
(ii) in subparagraph (B)--
(I) in clauses (i) and (ii), by 
striking ``(2)(D)(ii)'' each place it 
appears and inserting ``(2)(D)'';
(II) in clause (i), by striking 
``202(c)(1)(B)'' and inserting 
``202(c)(1)''; and
(III) in clause (iv), striking 
``paragraph (2)(D)(ii)'' and inserting 
``clauses (i)(II) and (ii) of paragraph 
(2)(D)''; and
(B) in section 403(b)(12)--
(i) in subparagraph (A), by striking 
``section 202(c)'' and inserting ``section 
202(c)(1)(B)''; and
(ii) in subparagraph (D)--
(I) in the subparagraph heading, by 
inserting ``and certain younger 
employees'' after ``employees''; and
(II) in clause (i), by striking 
``202(c)(1)(B)'' and adding 
``202(c)(1)''.
(c) Application.--The amendments made by this section shall apply 
to plan years beginning on or after the date that is 1 year after the 
date of enactment of this Act.
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