The Secretary of Labor and the Secretary of the Treasury shall—

1. (1) conduct a study on the use of emergency savings from individual account plan accounts, including emergency savings from a pension-linked emergency savings account regarding—

   1. (A) whether the amount of the dollar limitation under section 1193(d)(1)(A) of this title is sufficient;
   2. (B) whether the limitation on the contribution rate under section 1193(d)(2)(A) of this title is appropriate; and
   3. (C) the extent to which plan sponsors offer such accounts and participants participate in such accounts and the resulting impact on participant retirement savings, including the impact on retirement savings leakage and the effect of such accounts on retirement plan participation by low- and moderate-income households; and
2. (2) not later than 7 years after December 29, 2022, submit to Congress a report on the findings of the study under paragraph (1).

(Pub. L. 93–406, title I, § 804, as added Pub. L. 117–328, div. T, title I, § 127(b)(1), Dec. 29, 2022, 136 Stat. 5323.)

Statutory Notes and Related Subsidiaries

Effective Date

Section applicable to plan years beginning after Dec. 31, 2023, see section 127(g) of Pub. L. 117–328, set out as an Effective Date of 2022 Amendment note under section 72 of Title 26, Internal Revenue Code.