PROSPERS Act

Summary

Preserve Rights Of States and Political subdivisions to Encourage Retirement Savings Act or the PROSPERS Act This bill amends the Employee Retirement Income Security Act of 1974 (ERISA) to specify that states and certain political subdivisions may establish and administer voluntary payroll deduction retirement savings programs for private sector employees that are not considered employee pension benefit plans or pension plans covered by ERISA if the plans meet certain requirements. The bill requires the plans to be established, implemented, and administered by states or political subdivisions. The plans must also be voluntary for employees and meet other specified requirements, including restrictions on the involvement of employers and obligations to enforce the rights of employees.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 18 May 2017

   Introduced

   Referred to the House Committee on Education and the Workforce.

   Source: IntroReferral

2. 18 May 2017

   Introduced

   Introduced in House

   Source: IntroReferral

3. 18 May 2017

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 18 May 2017 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 18 May 2017

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 18 May 2017

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 18 May 2017

  Open at official source

Sponsors

• Rep. Bonamici, Suzanne [D-OR-1] · D · Sponsor
• JOSEPH CROWLEY · D · Sponsor
• Rep. Takano, Mark [D-CA-39] · D · Sponsor
• Rep. Courtney, Joe [D-CT-2] · D · Sponsor
• Barbara Lee · D · Sponsor
• Rep. Scott, Robert C. "Bobby" [D-VA-3] · D · Sponsor
• Joseph Kennedy · D · Cosponsor
• Rep. Barragán, Nanette Diaz [D-CA-44] · D · Cosponsor
• Rep. Schakowsky, Janice D. [D-IL-9] · D · Cosponsor
• Rep. Panetta, Jimmy [D-CA-19] · D · Cosponsor
• · hsed00 · Standing

Related records

• related to → PROSPERS Act