H. R. 2617—864 
is provided to the participant at the time required for 
such notice. 
‘‘(4) EMPLOYER MATCHING CONTRIBUTIONS TO AN INDIVIDUAL 
ACCOUNT PLAN FOR EMPLOYEE CONTRIBUTIONS TO A PENSION- 
LINKED EMERGENCY SAVINGS ACCOUNT.— 
‘‘(A) IN GENERAL.—If an employer makes any matching 
contributions to an individual account plan of which a 
pension-linked emergency savings account is part, subject 
to the limitations of paragraph (1)(A), the employer shall 
make matching contributions on behalf of a participant 
on account of the contributions by the participant to the 
pension-linked emergency savings account at the same rate 
as any other matching contribution on account of an elec-
tive contribution by such participant. The matching con-
tributions shall be made to the participant’s account under 
the individual account plan that is not the pension-linked 
emergency savings account. Such matching contributions 
on account of contributions under paragraph (1)(A) shall 
not exceed the maximum account balance under paragraph 
(1)(A) for such plan year. 
‘‘(B) COORDINATION
RULE.—For purposes of any 
applicable limitation on matching contributions, any 
matching contributions made under the plan shall be 
treated first as attributable to the elective deferrals of 
the participant other than contributions to a pension-linked 
emergency savings account. 
‘‘(C) MATCHING
CONTRIBUTIONS.—For purposes of 
subparagraph (A), the term ‘matching contribution’ has 
the meaning given such term in section 401(m)(4) of the 
Internal Revenue Code of 1986. 
‘‘(e) ACCOUNT BALANCE AFTER TERMINATION.—Upon termi-
nation of employment of the participant, or termination by the 
plan sponsor of the pension-linked emergency savings account, the 
pension-linked emergency savings account of such participant in 
an individual account plan shall— 
‘‘(1) allow, at the election of the participant, for transfer 
by the participant of the account balance of such account, 
in whole or in part, into another designated Roth account 
of the participant under the individual account plan; and 
‘‘(2) for any amounts in such account not transferred under 
paragraph (1), make such amounts available within a reason-
able time to the participant. 
‘‘(f) ANTI-ABUSE RULES.— 
‘‘(1) IN GENERAL.—A plan of which a pension-linked emer-
gency savings account is part— 
‘‘(A) may employ reasonable procedures to limit the 
frequency or amount of matching contributions with respect 
to contributions to such account, solely to the extent nec-
essary to prevent manipulation of the rules of the plan 
to cause matching contributions to exceed the intended 
amounts or frequency; and 
‘‘(B) shall not be required to suspend matching con-
tributions following any participant withdrawal of contribu-
tions, including elective deferrals and employee contribu-
tions, whether or not matched and whether or not made 
pursuant to an automatic contribution arrangement
H. R. 2617—870 
‘‘(C) MATCHING
CONTRIBUTIONS.—For purposes of 
subparagraph (A), the term ‘matching contribution’ has 
the meaning given such term in section 401(m)(4). 
‘‘(7) DISTRIBUTIONS.— 
‘‘(A) IN GENERAL.—A pension-linked emergency savings 
account shall allow for withdrawal by the participant on 
whose behalf the account is established of the account 
balance, in whole or in part at the discretion of the partici-
pant, at least once per calendar month and for distribution 
of such withdrawal to the participant as soon as practicable 
after the date on which the participant elects to make 
such withdrawal. 
‘‘(B) TREATMENT OF DISTRIBUTIONS.—Any distribution 
from a pension-linked emergency savings account in accord-
ance with subparagraph (A)— 
‘‘(i) shall be treated as a qualified distribution 
for purposes of subsection (d), and 
‘‘(ii) shall be treated as meeting the requirements 
of sections 401(k)(2)(B)(i), 403(b)(7)(A)(i), 403(b)(11), 
and 457(d)(1)(A). 
‘‘(8) ACCOUNT BALANCE AFTER TERMINATION.— 
‘‘(A) IN GENERAL.—Upon termination of employment 
of the participant, or termination by the plan sponsor of 
the pension-linked emergency savings account, the pension- 
linked emergency savings account of such participant in 
a defined contribution plan shall— 
‘‘(i) allow, at the election of the participant, for 
transfer by the participant of the account balance of 
such account, in whole or in part, into another des-
ignated Roth account of the participant under the 
defined contribution plan; and 
‘‘(ii) for any amounts in such account not trans-
ferred under paragraph (1), make such amounts avail-
able within a reasonable time to the participant. 
‘‘(B) PROHIBITION OF CERTAIN TRANSFERS.—No amounts 
shall be transferred by the participant from another 
account of the participant under any plan of the employer 
into the pension-linked emergency savings account of the 
participant. 
‘‘(C) COORDINATION WITH SECTION 72.—Subparagraph 
(F) of section 408A(d)(3) shall not apply (including by rea-
son of subsection (c)(4)(D) of this section) to any rollover 
contribution of amounts in a pension-linked emergency 
savings account under subparagraph (A). 
‘‘(9) COORDINATION WITH DISTRIBUTION OF EXCESS DEFER-
RALS.—If any excess deferrals are distributed under section 
402(g)(2)(A) to a participant, such amounts shall be distributed 
first from any pension-linked emergency savings account of 
the participant to the extent contributions were made to such 
account for the taxable year. 
‘‘(10) TREATMENT OF ACCOUNT BALANCES.— 
‘‘(A) IN GENERAL.—Except as provided in subparagraph 
(B), a distribution from a pension-linked emergency savings 
account shall not be treated as an eligible rollover distribu-
tion for purposes of sections 401(a)(31), 402(f), and 3405. 
‘‘(B) TERMINATION.—In the case of termination of 
employment of the participant, or termination by the plan
H. R. 2617—893 
SEC. 315. REFORM OF FAMILY ATTRIBUTION RULE. 
(a) IN GENERAL.—Section 414 is amended— 
(1) in subsection (b)— 
(A) by striking ‘‘For purposes of’’ and inserting the 
following: 
‘‘(1) IN GENERAL.—For purposes of’’, and 
(B) by adding at the end the following new paragraphs: 
‘‘(2) SPECIAL RULES FOR APPLYING FAMILY ATTRIBUTION.— 
For purposes of applying the attribution rules under section 
1563 with respect to paragraph (1), the following rules apply: 
‘‘(A) Community property laws shall be disregarded 
for purposes of determining ownership. 
‘‘(B) Except as provided by the Secretary, stock of 
an individual not attributed under section 1563(e)(5) to 
such individual’s spouse shall not be attributed to such 
spouse by reason of the combined application of paragraphs 
(1) and (6)(A) of section 1563(e). 
‘‘(C) Except as provided by the Secretary, in the case 
of stock in different corporations that is attributed to a 
child under section 1563(e)(6)(A) from each parent, and 
is not attributed to such parents as spouses under section 
1563(e)(5), such attribution to the child shall not by itself 
result in such corporations being members of the same 
controlled group. 
‘‘(3) PLAN SHALL NOT FAIL TO BE TREATED AS SATISFYING 
THIS SECTION.—If application of paragraph (2) causes 2 or more 
entities to be a controlled group or to no longer be in a controlled 
group, such change shall be treated as a transaction to which 
section 410(b)(6)(C) applies.’’, and 
(2) in subsection (m)(6)(B)— 
(A) by striking ‘‘OWNERSHIP.—In determining’’ and 
inserting the following: ‘‘OWNERSHIP.— 
‘‘(i) IN GENERAL.—In determining’’, 
(B) by adding at the end the following new clauses: 
‘‘(ii) SPECIAL RULES FOR APPLYING FAMILY ATTRIBU-
TION.—For purposes of applying the attribution rules 
under section 318 with respect to clause (i), the fol-
lowing rules apply: 
‘‘(I) Community property laws shall be dis-
regarded for purposes of determining ownership. 
‘‘(II) Except as provided by the Secretary, stock 
of an individual not attributed under section 
318(a)(1)(A)(i) to such individual’s spouse shall not 
be attributed by reason of the combined application 
of paragraphs (1)(A)(ii) and (4) of section 318(a) 
to such spouse from a child who has not attained 
the age of 21 years. 
‘‘(III) Except as provided by the Secretary, in 
the case of stock in different organizations which 
is attributed under section 318(a)(1)(A)(ii) from 
each parent to a child who has not attained the 
age of 21 years, and is not attributed to such 
parents as spouses under section 318(a)(1)(A)(i), 
such attribution to the child shall not by itself 
result in such organizations being members of the 
same affiliated service group.
H. R. 2617—927 
(B) for each of fiscal years 2025 through 2029, an 
amount not in excess of the lesser of— 
(i) $350,000; or 
(ii) 5.0 percent of the maximum amount available 
under paragraph (1) for that fiscal year. 
SEC. 347. REPORT BY THE SECRETARY OF LABOR ON THE IMPACT 
OF INFLATION ON RETIREMENT SAVINGS. 
The Secretary of Labor, in consultation with the Secretary 
of the Treasury, shall— 
(1) conduct a study on the impact of inflation on retirement 
savings; and 
(2) not later than 90 days after the date of enactment 
of this Act, submit to Congress a report on the findings of 
the study. 
SEC. 348. CASH BALANCE. 
(a) AMENDMENT OF INTERNAL REVENUE CODE OF 1986.—Section 
411(b) is amended by adding at the end the following new para-
graph: 
‘‘(6) PROJECTED INTEREST CREDITING RATE.—For purposes 
of subparagraphs (A), (B), and (C) of paragraph (1), in the 
case of an applicable defined benefit plan (as defined in sub-
section (a)(13)(C)) which provides variable interest crediting 
rates, the interest crediting rate which is treated as in effect 
and as the projected interest crediting rate shall be a reasonable 
projection of such variable interest crediting rate, not to exceed 
6 percent.’’. 
(b) AMENDMENT OF EMPLOYEE RETIREMENT INCOME SECURITY 
ACT OF 1974.—Section 204(b) of the Employee Retirement Income 
Security Act of 1974 (29 U.S.C. 1060(b)) is amended by adding 
at the end the following new paragraph: 
‘‘(6) PROJECTED INTEREST CREDITING RATE.—For purposes 
of subparagraphs (A), (B), and (C) of paragraph (1), in the 
case of an applicable defined benefit plan (within the meaning 
of section 203(f)(3)) which provides variable interest crediting 
rates, the interest crediting rate which is treated as in effect 
and as the projected interest crediting rate shall be a reasonable 
projection of such variable interest crediting rate, not to exceed 
6 percent.’’. 
(c) EFFECTIVE DATE.—The amendments made by this section 
shall apply with respect to plan years beginning after the date 
of enactment of this Act. 
SEC. 349. TERMINATION OF VARIABLE RATE PREMIUM INDEXING. 
(a) IN GENERAL.—Paragraph (8) of 4006(a) of the Employee 
Retirement Income Security Act of 1974 (29 U.S.C. 1306(a)) is 
amended by— 
(1) in subparagraph (A)— 
(A) in clause (vi), by striking ‘‘and’’; 
(B) in clause (vii), by striking the period at the end 
and inserting ‘‘; and’’; and 
(C) by adding at the end the following: 
‘‘(viii) for plan years beginning after calendar year 
2023, $52.’’; 
(2) in subparagraph (B), in the matter preceding clause 
(i), by inserting ‘‘and before 2024’’ after ‘‘2012’’ ; and