Contact Congress about H.R. 6324: Retirement Simplification and Clarity Act
Workers age 50 and up could roll 401(k) savings into an individual retirement annuity while still employed, if their plan allows it. The bill also creates a standard notice that plans can use to explain rollover and tax rules in plain language.
Modern Action explains legislation in plain English, helps you choose whether to support, oppose, or ask for changes, and drafts a message tied to the bill, your stance, and the elected officials who can act on it.
Retirement Simplification and Clarity Act is a House bill in committee. The latest recorded action: Referred to the House Committee on Ways and Means.
Latest action on H.R. 6324: Referred to the House Committee on Ways and Means.
Who this affects: This bill mainly affects workers age 50 and older who have 401(k) plans and want more control over their retirement savings before they leave their job. It also affects employers and retirement plan administrators who handle rollover disclosures.
Why this matters: Many workers nearing retirement want to start converting savings into guaranteed income but cannot touch their 401(k) money until they leave their job. This bill would give people 50 and older a new path to do that. At the same time, plan administrators often struggle to write legally compliant notices about rollovers and taxes, and the new checklist could make that easier and more consistent across the country.
Key provisions in H.R. 6324
- 401(k) plans could let workers age 50 and older move some or all of the money they contributed through salary deferrals into an individual retirement annuity while still on the job.
- The rollover must go directly from the plan to an individual retirement annuity that meets the rules in tax code section 408(b).
- This new rule overrides an existing 401(k) restriction that normally blocks distribution of salary deferrals until a qualifying event like leaving the job.
- The bill creates a safe harbor checklist: if a plan's written notice includes every item on the list, the plan satisfies the legal requirement to explain rollover options and tax consequences.
- The safe harbor notice must cover the 30-day review period, income tax withholding rules, the possible 10% extra tax on distributions before age 59½, and the 20% withholding rule for certain distributions.
How Modern Action helps you take action on H.R. 6324
You do not have to start with a blank letter. Modern Action turns the bill, your position, and the relevant congressional context into a message you can edit and send. The goal is to make contacting Congress clear, specific, and useful without forcing you to parse bill text or figure out the right office on your own.
Questions people ask about H.R. 6324
- What is H.R. 6324?
- Workers age 50 and up could roll 401(k) savings into an individual retirement annuity while still employed, if their plan allows it. The bill also creates a standard notice that plans can use to explain rollover and tax rules in plain language.
- How do I support or oppose H.R. 6324?
- Choose support, oppose, or ask for changes on Modern Action. The action flow drafts the message for you and keeps the wording tied to this bill.
- Who should I contact about H.R. 6324?
- Modern Action uses your location to route the action to the congressional offices relevant to the bill and your representation.
- Can Modern Action explain H.R. 6324 before I act?
- Yes. Modern Action gives you a plain-English summary, current status, and action context before you send anything.
