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H.R. 6757 (115th): Family Savings Act of 2018

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About the bill

Source: Republican Policy Committee

H.R. 6757 reforms retirement accounts and family-friendly saving accounts to increase flexibility and encourage savings, and creates a new universal savings account. Selected major provisions of the bill are below.

Title I – Expanding and Preserving Retirement Savings Accounts

The Title exempts individuals less than $50,000 across all eligible retirement plans (other than defined benefit plans) from required minimum distribution rules. The title also repeals the maximum age for contributions to a traditional IRA, which is currently set at age 70 1/2.

The Title permits the portability of lifetime income investments if it is no longer authorized to be held as an investment option. Under the proposal, if an employer terminates a section 403(b) plan under which amounts are contributed to custodial accounts, and the person holding the assets of …

Sponsor and status

Mike Kelly

Sponsor. Representative for Pennsylvania's 3rd congressional district. Republican.

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Last Updated: Sep 28, 2018
Length: 94 pages
Sep 10, 2018
115th Congress (2017–2019)
Died in a previous Congress

This bill was introduced in a previous session of Congress and was passed by the House on September 27, 2018 but was never passed by the Senate.

Although this bill was not enacted, its provisions could have become law by being included in another bill. It is common for legislative text to be introduced concurrently in multiple bills (called companion bills), re-introduced in subsequent sessions of Congress in new bills, or added to larger bills (sometimes called omnibus bills).


29 Cosponsors (29 Republicans)


Position statements

What legislators are saying

House Passes Kelly Legislation to Increase Retirement Savings for Americans
    — Rep. Mike Kelly [R-PA16] (Sponsor) on Dec 20, 2018

Reichert, House Pass Tax Reform 2.0
    — Rep. David Reichert [R-WA8, 2005-2018] (Co-sponsor) on Sep 28, 2018

THIS WEEK IN CONGRESS - September 28, 2018
    — Rep. Gregorio Sablan [D-MP] on Oct 1, 2018

More statements at ProPublica Represent...

What stakeholders are saying

R Street Institute estimates H.R. 6757 will add $2 million in new spending through 2028.


Sep 10, 2018

Bills and resolutions are referred to committees which debate the bill before possibly sending it on to the whole chamber.

Sep 13, 2018
Ordered Reported

A committee has voted to issue a report to the full chamber recommending that the bill be considered further. Only about 1 in 4 bills are reported out of committee.

Sep 24, 2018
Reported by House Committee on Ways and Means

A committee issued a report on the bill, which often provides helpful explanatory background on the issue addressed by the bill and the bill's intentions.

Sep 27, 2018
Passed House (Senate next)

The bill was passed in a vote in the House. It goes to the Senate next.

H.R. 6757 (115th) was a bill in the United States Congress.

A bill must be passed by both the House and Senate in identical form and then be signed by the President to become law.

Bills numbers restart every two years. That means there are other bills with the number H.R. 6757. This is the one from the 115th Congress.

This bill was introduced in the 115th Congress, which met from Jan 3, 2017 to Jan 3, 2019. Legislation not passed by the end of a Congress is cleared from the books.

How to cite this information.

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