Sec. 3. Retirement contributions and savings disregarded for certain means-tested programs
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/bill/114/hr/3264/ih/section-3A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 408(a) of the Social Security Act ( 42 U.S.C. 608(a) ) is amended by adding at the end the following: In determining the eligibility of an individual for assistance, or the amount of assistance payable to an individual, under a State program funded under this part, the State shall disregard any amount contributed by the individual to, and the value of— any funds in a plan, contract, or account, described in sections 401(a), 403(a), 403(b), 408, 408A, 457(b), and 501(c)(18) of the Internal Revenue Code of 1986 and any funds in a Federal Thrift Savings Plan account as provided in section 8439 of title 5, United States Code; any retirement program or account included in any successor or similar provision that may be enacted and determined to be exempt from tax under the Internal Revenue Code of 1986; and any other retirement plans, contracts, or accounts (as determined by the Secretary of Health and Human Services). .
Section 1612(b) of such Act ( 42 U.S.C. 1382a(b) ) is amended— by striking ; and at the end of paragraph (25); by striking the period at the end of paragraph
(26)and inserting ; and ; and by adding at the end the following: any amount received by the individual, to the extent that the amount is contributed by the individual to a program, plan, contract, or account referred to in section 1613(a). . Section 1613(a) of such Act ( 42 U.S.C. 1382b(a) ) is amended— by striking ; and at the end of paragraph (16); by striking the period at the end of paragraph
(17)and inserting ; and ; and by adding at the end the following: any funds in a plan, contract, or account, described in sections 401(a), 403(a), 403(b), 408, 408A, 457(b), and 501(c)(18) of the Internal Revenue Code of 1986 and any funds in a Federal Thrift Savings Plan account as provided in section 8439 of title 5, United States Code; any retirement program or account included in any successor or similar provision that may be enacted and determined to be exempt from tax under the Internal Revenue Code of 1986; and any other retirement plans, contracts, or accounts (as determined by the Commissioner of Social Security). . There shall not be included in any determination under section 2605(b)(2)(B) of the Low-Income Home Energy Assistance Act of 1981 ( 42 U.S.C. 8624(b)(2)(B) ) of household eligibility for Low-Income Home Energy Assistance Program funds, any amount contributed to, and the value of— any funds in a plan, contract, or account, described in sections 401(a), 403(a), 403(b), 408, 408A, 457(b), and 501(c)(18) of the Internal Revenue Code of 1986 and any funds in a Federal Thrift Savings Plan account as provided in section 8439 of title 5, United States Code; any retirement program or account included in any successor or similar provision that may be enacted and determined to be exempt from tax under the Internal Revenue Code of 1986; and any other retirement plans, contracts, or accounts (as determined by the Secretary of Health and Human Services).
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Sec. 3
Retirement contributions and savings disregarded for certain means-tested programs
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