Rep. Sam Johnson’s Servicemember Retirement Improvement Act Passes House
WASHINGTON, D.C. – Today the House passed U.S. Congressman Sam Johnson’s (TX-03) Servicemember Retirement Improvement Act (H.R. 1317) as part of the Family Savings Act of 2018 (H.R. 6757).
Johnson’s Servicemember Retirement Improvement Act would stop the Internal Revenue Service (IRS) from limiting the ability of Guard and Reserve servicemembers to save for their retirement. Senator John Cornyn (R-TX) introduced the companion legislation in the Senate.
“Our troops and veterans put their lives on the line in order to defend Freedom and protect our American way of life, so it’s only right that we ensure they receive fair treatment when they return home,” said Johnson. “Unfortunately, the IRS is able to limit the ability of Guard and Reserve servicemembers to save for their retirement if they also hold a civilian job. In effect, these service members and their families are being penalized when it comes to saving for their retirement because they happen to serve our country. This is wrong, and our men and women in uniform deserve better. I am pleased the House passed this fair and commonsense bill, and I look forward to getting it swiftly signed into law.”
The Servicemember Retirement Improvement Act is supported by a wide range of groups:
The Military Coalition (TMC)