PSI Sci
New here? Follow the money and the votes · Not sure of your district? Find your U.S. House member · Find your state legislators

H.R. 6757: Family Savings Act of 2018

Before you vote › Federal bills

H.R. 6757: Family Savings Act of 2018

115th Congress · introduced 2018-09-10 · Taxation · Latest: Received in the Senate and Read twice and referred to the Committee on Finance.

federal

Follow this bill, step by step

  1. Where it came from: introduced 2018-09-10 · official record
  2. Who proposed it: Rep. Kelly, Mike [R-PA-3] · what a sponsor is
  3. What happened next: 1 recorded vote in our records. Latest: House roll call 411 (2018): On Passage, HR6757 (2018-09-27), Passed. See all
  4. Where it stands now: Received in the Senate and Read twice and referred to the Committee on Finance. Not final yet: this can still change. We check for updates every day.
  5. If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Family Savings Act of 2018

Plain summary

Family Savings Act of 2018 This bill modifies the requirements for employer-provided retirement plans and tax-favored savings accounts. With respect to employer-provided retirement plans, the bill modifies requirements regarding: multiple employer and pooled employer plans, nonelective contributions to 401(k) plans, loans, the portability of lifetime income investments, the treatment of custodial accounts upon termination of section 403(b) plans, retirement income accounts for church-controlled organizations, required minimum distributions, retirement plan contributions picked up by government employers for new or existing employees, elective deferrals by members of the Ready Reserve of a reserve component of the Armed Forces, and nondiscrimination rules. The bill modifies requirements for other tax-favored savings account to: treat taxable non-tuition fellowship and stipend payments as compensation for the purpose of an Individual Retirement Account (IRA), repeal the maximum age for traditional IRA contributions, allow individuals to establish tax-favored universal savings accounts, expand the purposes for which qualified tuition programs (commonly known as 529 plans) may be used, and allow certain penalty-free withdrawals from retirement plans if a child is born or adopted.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Family Savings Act of 2018

Source: Congressional Research Service summary (Introduced in House)

AI explanation – may be wrong, check the official text

No AI explanation yet. It takes up to a minute to write and is then saved for everyone.

Limited to a few requests an hour per person.

The strongest published arguments

Arguments for (supporters)

Needs sources: no published arguments on this side yet. We only show items backed by a published source. Suggest one.

Arguments against (opponents)

Needs sources: no published arguments on this side yet. We only show items backed by a published source. Suggest one.

Alternatives

Needs sources: no published alternatives yet (for example a different bill, a law instead of an amendment, or keeping current law). We only show items backed by a published source. Suggest one.

How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Kelly, Mike [R-PA-3] · 29 cosponsors

Cost estimate: CBO cost estimate: H.R. 6757, Family Savings Act of 2018 (2018-09-21)

Cosponsors on this site

Vern Buchanan (R-FL), Adrian Smith (R-NE), Jason Smith (R-MO), David Schweikert (R-AZ), Darin LaHood (R-IL), Pete Sessions (R-TX), Marsha Blackburn (R-TN), J. French Hill (R-AR), Ron Estes (R-KS)

Sponsor's campaign money: Rep. Kelly, Mike [R-PA-3] reported raising $1.4 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

Recorded votes

Words on this page, explained (2)
Bill
A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
Rulemaking
The process agencies use to write regulations that carry out laws passed by Congress or a legislature. Usually an agency publishes a proposed rule, takes public comments, then publishes a final rule.

Plain meanings written from linked sources. All words.

Sources

Record fed-us-cong115-hr6757 · catalog fed-us-congress-bills-cong115 · updated 2026-11-15 by psicol fed-bills-cong115