HR. 329In Committee
Expanding Penalty Free Withdrawal Act
Plain-English overview
What this bill does
Allows certain unemployed individuals to take early qualified retirement plan withdrawals without the 10% additional tax, within time and amount limits tied to unemployment benefits
Key points
- Limit exempt withdrawal amounts
- Allow penalty free withdrawals
- Expand retirement plan tax exception
Current status
Where it stands
Status
In Committee
Latest action
2025-01-09 — Referred to the House Committee on Ways and Means.
Related context
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Discovery signals
About these signals
Impact and Momentum are relative discovery aids calculated by Legislation Lemur. They help you scan the congressional record; they are not predictions, endorsements, ideological ratings, or measures of policy importance.
Impact ScoreOverall observed legislative footprint and accumulated activity.
MomentumHow recently active or changing the bill appears in available data.