Family Savings Act of 2019
This bill modifies requirements for tax-exempt multi-employer and pooled employer retirement plans and expands qualified tuition plans (commonly known as 529 plans) to cover additional programs and expenses.
Among other things, the bill
Additionally, the bill (1) expands 529 plans to allow distributions for registered apprenticeship programs, education loan repayments, and certain elementary and secondary school expenses in addition to tuition; (2) allows unborn children to be beneficiaries of 529 plans; and (3) permits penalty free withdrawals from retirement plans for expenses related to the birth or adoption of a child.
| Action Date | Type | Text | Source |
|---|---|---|---|
| 2019-02-07 | IntroReferral | Referred to the Committee on Ways and Means, and in addition to the Committees on Education and Labor, and the Budget, 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. | House floor actions |
| 2019-02-07 | IntroReferral | Referred to the Committee on Ways and Means, and in addition to the Committees on Education and Labor, and the Budget, 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. | House floor actions |
| 2019-02-07 | IntroReferral | Referred to the Committee on Ways and Means, and in addition to the Committees on Education and Labor, and the Budget, 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. | House floor actions |
| 2019-02-07 | IntroReferral | Introduced in House | Library of Congress |