Bills · HR 6324
IN COMMITTEE· 119TH CONGRESS
House BillHR 6324Taxation
Retirement Simplification and Clarity Act
INTRO NOV 28· LAST ACTION NOV 28
READING
4MIN
COSPONSORS
25BIPARTISAN
READER REACTIONS0 TOTAL
NO VOTES YET · BE THE FIRST
- Introduced only
LEGISLATIVE PROGRESS
STEP 2 / 8Introduced
In Committee
Reported
Passed House
Passed Senate
Conference
To President
Became Law
WHAT THE BILL DOES
AI-writtenThis bill matters because it gives older workers more control and flexibility over their retirement savings, especially for those looking to secure a guaranteed income. As people live longer, the concern about outliving retirement savings is growing. Annuities can help address this by providing a steady stream of income. If this bill becomes law, workers aged 50 and above could start moving their 401(k) funds into annuities while still working, potentially allowing them to lock in income earlier or diversify their retirement portfolio without having to quit their job.
Without this bill, workers generally have fewer options to access their 401(k) funds before leaving their employer or reaching age 59½, limiting their ability to purchase annuities with those funds. The added requirement for clear explanations of rollover rules is also significant, as it helps prevent costly mistakes and ensures people fully understand the financial implications of moving their retirement money, making complex decisions more accessible to the average person.
KEY PROVISIONS
3AI-extractedPROVISION 01
Allows individuals aged 50 or older to transfer (rollover) employer contributions from their 401(k) plans directly into an individual retirement annuity while still employed.
This provides new flexibility for older workers to convert a portion of their retirement savings into guaranteed income streams earlier.
PROVISION 02
Establishes a 'safe harbor' list of specific information that retirement plan administrators must include in written, plain language explanations about rollovers.
This ensures participants receive clear and comprehensive information regarding their retirement options and the financial implications of moving their funds.
PROVISION 03
The new rules will apply to taxable years beginning after December 31, 2025.
This sets the timeline for when the changes to retirement planning and disclosure requirements will take effect.
SPONSORSHIP
1 + 25
D· California
YRS IN OFFICE
9
BILLS LED
54
COSPONSOR BREAKDOWNBIPARTISAN · 88%
DEM 11 REP 14 IND 0
ACTION TIMELINE
2 EVENTSNOV 28
Introduced in House
NOV 28
Referred to the House Committee on Ways and Means.
BILL INFO
TypeHouse Bill
NumberHR 6324
Congress119th
StatusIn Committee
IntroducedNov 28, 2025
Last actionNov 28, 2025
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IN COMMITTEE· 119TH CONGRESS · WAYS AND MEANS COMMITTEE · INTRODUCED NOV 28, 2025
House BillHR 6324Taxation
Retirement Simplification and Clarity Act
INTRODUCED NOV 28, 2025· LAST ACTION NOV 28, 2025
PASSAGE CHANCES
—%
READING
4 min
COSPONSORS
25
COMPLEXITY
Moderate
