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Earlier Retirement Savings: 401(k) Access for Young Workers Starting at Age 18.

This law lowers the minimum age requirement for participation in employer-sponsored retirement plans, such as 401(k)s, from 21 to 18. This change allows young employees to begin saving for retirement and benefit from employer matching contributions three years sooner. These amendments are scheduled to take effect for plan years beginning after December 31, 2025.
Key points
Lowers the minimum age for joining defined contribution retirement plans (like 401(k)s) from 21 to 18.
Younger workers (ages 18-20) gain three extra years to build retirement savings and benefit from compounding interest.
The changes will apply to plan years starting after December 31, 2025.
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Expired
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Additional Information
Print number: 118_S_3305
Sponsor: Sen. Cassidy, Bill [R-LA]
Process start date: 2023-11-15
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Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Helping Young Americans Save for Retirement Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_3305.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-11-15.

What are the main provisions?

Key points include:

  • Lowers the minimum age for joining defined contribution retirement plans (like 401(k)s) from 21 to 18.
  • Younger workers (ages 18-20) gain three extra years to build retirement savings and benefit from compounding interest.
  • The changes will apply to plan years starting after December 31, 2025.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Cassidy, Bill [R-LA].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Labor Economy