I 

118TH CONGRESS 

2D SESSION H. R. 9281 

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 

AUGUST 2, 2024 

Ms. PETTERSEN (for herself and Mr. WALBERG) introduced the following bill; 

which was referred to the Committee on Ways and Means, and in addition to the Committee on Education and the 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. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Helping Young Ameri5 cans Save for Retirement Act’’. 


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1 SEC. 2. ELIGIBILITY AT AGE 18 UNDER CERTAIN CONDI2 TIONS. 

3 (a) ERISA.— 

4 (1) AGE 18.—Subparagraphs (A) and (B) of 

5 section 202(c)(1) of the Employee Retirement In6 come Security Act of 1974 (29 U.S.C. 1052(c)(1)) 

7 are amended to read as follows: 

8 ‘‘(A) the period determined under sub9 section (a)(1) determined— 

10 ‘‘(i) without regard to subparagraph 

11 (B)(i) thereof; and 

12 ‘‘(ii) by substituting ‘18’ for ‘21’ in 

13 subparagraph (A)(i) thereof; or 

14 ‘‘(B) the first 24-month period— 

15 ‘‘(i) consisting of 2 consecutive 12- 

16 month periods during each of which the 

17 employee has at least 500 hours of service; 

18 and 

19 ‘‘(ii) by the close of which the em20 ployee has met the requirement of sub21 section (a)(1)(A)(i) (without regard to sub22 paragraph (A)(ii) of this paragraph).’’. 

23 (2) CONFORMING AMENDMENTS.—Section 

24 202(c) of such Act (29 U.S.C. 1052(c)) is amend25 ed— 

26 (A) in the subsection heading— 


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1 (i) by striking ‘‘SPECIAL RULE’’ and 

2 inserting ‘‘SPECIAL RULES’’; and 

3 (ii) by adding ‘‘AND CERTAIN YOUNG4 ER EMPLOYEES’’ after ‘‘EMPLOYEES’’; and 

5 (B) in paragraph (3)— 

6 (i) by striking ‘‘Paragraph (1)(B)’’ 

7 and inserting ‘‘Paragraph (1)’’, and 

8 (ii) by striking ‘‘section 

9 401(k)(2)(D)(ii)’’ and inserting ‘‘section 

10 401(k)(2)(D)’’. 

11 (3) OPINION OF INDEPENDENT QUALIFIED

12 PUBLIC ACCOUNTANT.—Section 104(a)(2) of such 

13 Act (29 U.S.C. 1024(a)(2)) is amended by adding at 

14 the end the following: 

15 ‘‘(C) For purposes of this paragraph and the last sen16 tence of section 103(a)(3)(A), with respect to a pension 

17 plan in which at least one employee participates solely by 

18 reason of section 202(c)(1)(A), no employee participating 

19 in such plan solely by reason of section 202(c)(1)(A) shall 

20 be treated as a participant until the date that is 5 years 

21 after the date on which the first such employee first be22 comes a participant in such plan.’’. 

23 (b) INTERNAL REVENUE CODE OF 1986.— 


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1 (1) AGE 18.—Clauses (i) and (ii) of section 

2 401(k)(2)(D) of the Internal Revenue Code of 1986 

3 are amended to read as follows: 

4 ‘‘(i) the period permitted under sec5 tion 410(a)(1), determined— 

6 ‘‘(I) without regard to subpara7 graph (B)(i) thereof, and 

8 ‘‘(II) by substituting ‘18’ for ‘21’ 

9 in subparagraph (A)(i) thereof, or 

10 ‘‘(ii) subject to the provisions of para11 graph (15), the first of 2 consecutive 12- 

12 month periods during each of which the 

13 employee has at least 500 hours of service, 

14 provided that the employee has satisfied 

15 the requirements of section 410(a)(1)(A)(i) 

16 (without regard to clause (i)(II) of this 

17 subparagraph).’’. 

18 (2) CONFORMING AMENDMENTS.—The Internal 

19 Revenue Code of 1986 is amended— 

20 (A) in section 401(k)(15)— 

21 (i) in the paragraph heading, by add22 ing ‘‘AND CERTAIN YOUNGER WORKERS’’ 

23 after ‘‘WORKERS’’; and 

24 (ii) in subparagraph (B)— 


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1 (I) in clauses (i) and (ii), by 

2 striking ‘‘(2)(D)(ii)’’ each place it ap3 pears and inserting ‘‘(2)(D)’’; 

4 (II) in clause (i), by striking 

5 ‘‘202(c)(1)(B)’’ and inserting 

6 ‘‘202(c)(1)’’; and 

7 (III) in clause (iv), striking 

8 ‘‘paragraph (2)(D)(ii)’’ and inserting 

9 ‘‘clauses (i)(II) and (ii) of paragraph 

10 (2)(D)’’; and 

11 (B) in section 403(b)(12)— 

12 (i) in subparagraph (A), by striking 

13 ‘‘section 202(c)’’ and inserting ‘‘section 

14 202(c)(1)(B)’’; and 

15 (ii) in subparagraph (D)— 

16 (I) in the subparagraph heading, 

17 by inserting ‘‘AND CERTAIN YOUNGER

18 EMPLOYEES’’ after ‘‘EMPLOYEES’’; 

19 and 

20 (II) in clause (i), by striking 

21 ‘‘202(c)(1)(B)’’ and adding 

22 ‘‘202(c)(1)’’. 


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1 (c) EFFECTIVE DATE.—The amendments made by 

2 this section shall apply to plan years beginning after De3 cember 31, 2025. 

Æ 


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