Helping Young Americans Save for Retirement Act

This bill makes it easier for young workers to join workplace retirement plans. It sets eligibility at age 18 under certain conditions, including a path for part‑time employees who work at least 500 hours in each of two straight years to join a plan. It updates both ERISA and the tax code so 401(k) plans follow these standards, and it makes related technical fixes for other plan types, like 403(b) plans.

For employer audits, workers who join only because of the new age‑18 rule will not be counted as plan participants for five years after the first such employee joins the plan.

Key points

• Who is affected: Employees age 18 and up, including part‑time workers; employers offering pension, 401(k), and 403(b) plans.
• What changes: Eligibility at age 18 under certain conditions; part‑time workers can join after two consecutive 12‑month periods with at least 500 hours each; technical updates to keep ERISA and tax code rules aligned; delayed counting of these new participants for audit purposes .
• When: Applies to plan years starting one year after the law is enacted.