S 2964
Emergency Relief for Federal Contractors Act of 2025
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Bill overview
This bill, the Emergency Relief for Federal Contractors Act of 2025, provides a way for federal contractors impacted by government shutdowns to access retirement funds without penalty. It allows individuals to withdraw up to $30,000 from their retirement accounts during a shutdown, with adjustments for inflation. The bill also enables contractors to repay these withdrawals by making contributions to their retirement plans, effectively rolling the funds back in.
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