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)
Military Officers Association of America (MOAA)
Reserve Officers Association
Association of the United States Army
Air Force Association
Association of the United States Navy
Air Force Sergeants Association
Air Force Women Officers Associated
Army Aviation Association of America
AMSUS - the Society of Federal Health Professionals
Commissioned Officers Association of the US Public Health Service
USCG Chief Warrant and Warrant Officers Association (CWOA)
Enlisted Association of the National Guard of the US
Fleet Reserve Association
Gold Star Wives of America
Iraq and Afghanistan Veterans of America
Jewish War Veterans of the USA
Marine Corps Reserve Association
Military Order of the Purple Heart
National Guard Association of the US
National Military Family Association
Naval Enlisted Reserve Association
Non Commissioned Officers Association of the United States of America
Service Women’s Action Network
The Military Chaplains Association of the USA
The Retired Enlisted Association
Tragedy Assistance Program for Survivors
USCG Chief Petty Officers Association
Vietnam Veterans of America
Society for Human Resource Management
Transamerica
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