New rules would limit retirement savings for high-income earners with over $10 million in accounts.
High-income people with over $10 million in retirement savings would face new limits on how much they can put into individual retirement accounts. They would also have to take out more money each year once their total savings pass $10 million. These changes would apply to specific high-income taxpayers with very large retirement funds.
Today, there are no specific limits on contributions to individual retirement plans or increased minimum required distributions solely based on a combination of high income and large aggregate retirement account balances. After this bill, high-income taxpayers with over $10,000,000 in retirement savings would face new contribution limits for individual retirement plans and would be required to take larger annual withdrawals from their accounts, with an excise tax for not following the rules.
HR 9813 · 119th Congress · July 21, 2026 · AI Summary by gemini-2.5-flash · 8/10
Sign in to see your representatives' phone numbers