529 Retirement Enhancement Act of 2026
The source supplies the latest action, but no lifecycle stage.
Latest action (24 Sep 2026): Read twice and referred to the Committee on Finance.
What this bill does
This bill, S. 5550, introduced by Senator Ted Cruz, aims to change a specific part of the U.S. tax code related to education savings accounts and retirement accounts. Its stated purpose, based on its title, is to remove a cap or limit on how much money can be moved from a 529 savings program into a Roth individual retirement account.
The bill would likely affect individuals who use 529 plans, which are typically used for saving for education expenses. It would also affect those who have or are considering Roth IRAs, which are a type of retirement savings account. The specific impact on these individuals would depend on the details of how the rollover limit is removed, but the change focuses on the transfer of funds between these two types of accounts.
As of now, S. 5550 has just been introduced in the 119th Congress. This means it is at the very beginning of the legislative process. The full text of the bill has not yet been published, so its specific provisions beyond the title are not publicly available. For it to become law, it would need to be considered and passed by both the House of Representatives and the Senate, and then signed by the President.
Plain-English summary generated by Bill100 AI from the official record. Always verify against the source below.
Timeline
24 Sep 2026
Read twice and referred to the Committee on Finance.
Common questions
- What does S. 5550 do?
- This bill, S. 5550, introduced by Senator Ted Cruz, aims to change a specific part of the U.S. tax code related to education savings accounts and retirement accounts. Its stated purpose, based on its title, is to remove a cap or limit on how much money can be moved from a 529 savings program into a Roth individual retirement account. The bill would likely affect individuals who use 529 plans, which are typically used for saving for education expenses. It would also affect those who have or are considering Roth IRAs, which are a type of retirement savings account. The specific impact on these individuals would depend on the details of how the rollover limit is removed, but the change focuses on the transfer of funds between these two types of accounts. As of now, S. 5550 has just been introduced in the 119th Congress. This means it is at the very beginning of the legislative process. The full text of the bill has not yet been published, so its specific provisions beyond the title are not publicly available. For it to become law, it would need to be considered and passed by both the House of Representatives and the Senate, and then signed by the President.
- Has S. 5550 become law?
- The source does not supply a confirmed lifecycle stage for S. 5550. Check the latest action and official source below.
- Who sponsored S. 5550?
- S. 5550 was sponsored by Sen. Cruz, Ted [R-TX] (R-TX), with 1 cosponsor.
- What's the latest action on S. 5550?
- Read twice and referred to the Committee on Finance. (24 Sep 2026).
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