Lets people aged 50 and older move 401(k) savings to annuities while still working, and clarifies retirement fund information.
This bill would let people aged 50 or older move money from their 401(k) employer contributions into an individual retirement annuity, even if they're still working. This offers a new option for managing retirement savings. It would also make sure that people getting money from retirement plans receive clear, standardized explanations about their options and tax rules.
Today, people with 401(k) plans generally cannot move employer contributions to an individual retirement annuity. This is typically not allowed until they leave their job or turn 59 and a half. Also, the information they receive about their distribution options can vary. If this bill becomes law, people aged 50 or older would be able to move their employer's 401(k) contributions to an individual retirement annuity while still working. All taxpayers receiving retirement plan distributions would also get a clear, standardized explanation of their options. This would include tax rules like a potential 10 percent extra tax before age 59 and a half. It would also cover a 20 percent withholding for non-rollover distributions.
HR 6324 · 119th Congress · November 28, 2025 · AI Summary by gemini-2.5-flash · 9/10
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21 filings mentioned this bill
Amounts reflect total quarterly lobbying spend reported to the Senate, not bill-specific spending. Source: Senate LDA filings.