Helping Young Americans Save for Retirement Act
The Helping Young Americans Save for Retirement Act (S 1707) lowers the minimum age for joining employer retirement plans, such as 401(k)s, from 21 to 18. Young workers aged 18 or older can now participate if they work at least 500 hours in two consecutive 12-month periods. The bill amends federal retirement laws (ERISA) and tax code provisions to implement this change, directly affecting new workers entering the workforce. These provisions will apply to retirement plan years starting one year after the bill becomes law.
Bill status
in committee
1 of 4 stages cleared
Introduction
May 2025
Committee Review
Floor Vote
President
Introduced May 12, 2025
Last action May 12, 2025
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
1
May 12, 2025
Committee
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
upper
May 12, 2025
Introduced
Introduced in Senate
upper
1 primary · 7 co-sponsors
Sponsors
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