SecBot SecBot

Retirement Simplification and Clarity Act

H.R. 6324 Rep. Jimmy Panetta (D-CA-19) In committee
Bill text PDF
  1. Introduced Nov 28
  2. Committee Nov 28
  3. Passed House Next
  4. Passed Senate Not yet
  5. To President Not yet
  6. Law Not yet
Where it stands
In committee, Nov 28, 2025Next: House vote
333d ago Nov 28, 2025: Referred to the House Committee on Ways and Means.
Final votes
No roll callsNo recorded vote on this bill yet
Lobbying
3companies, 9 filings
Subscribe to see spend
Member trades
0trades in the last 90 days
None in these companies
Who backs the bill and who pushes back Subscribe

Companies lobbying on this bill

3 companies
Companies by sector
Financials 3
Search all 3 companies, their asks and price moves Subscribe

Summary

This bill amends the Internal Revenue Code to allow in-service rollovers from 401(k) plans to individual retirement annuities for participants aged 50 or older, and establishes a safe harbor for written explanations provided to taxpayers about distribution options.

Sec. 2, In-service rollovers for annuity purchases: This section amends section 401(k) of the Internal Revenue Code to permit a plan to allow a participant who has attained age 50 or older to elect a direct rollover of all or a portion of their accrued benefit attributable to employer contributions made pursuant to the employee's election to an individual retirement annuity.

Sec. 2, Safe harbor: This section amends section 402(f) of the Internal Revenue Code to provide that a written explanation satisfies requirements if it includes specific information in concise, plain language, such as the taxpayer having 30 days to review, tax consequences of distributions, rollover eligibility, and contact information for the plan administrator. It also authorizes the Secretary to issue regulations and guidance to administer this section.

Sec. 2, Effective date: The amendments made by this section apply to taxable years beginning after December 31, 2025.

Summary of the bill text as introduced in House (Nov 28, 2025), generated by SecBot from the official bill text; the Library of Congress summary is not yet published.

Official record from Congress.gov, the House Clerk and the Senate; lobbying from Lobbying Disclosure Act filings. Updated Oct 27, 2026.