Retirement Security for American Workers Act

Summary

Retirement Security for American Workers Act This bill amends the Internal Revenue Code and the Employee Retirement Income Security Act of 1974 (ERISA) to modify the qualification requirements for certain multiple employer retirement plans. A multiple employer plan that meets certain criteria may not be disqualified or otherwise lose its tax-favored status because one or more participating employers fail to take actions required with respect to the plan. The bill applies to a multiple employer defined contribution plan or a plan that consists of Individual Retirement Accounts that either: (1) is sponsored by employers that both have a common interest other than having adopted the plan and control the plan, or (2) have a pooled plan provider. The bill does not apply unless the terms of the plan require a noncompliant employer to, subject to the discretion of the Internal Revenue Service, (1) transfer assets of the plan attributable to the employees of the noncompliant employer to other specified retirement plans, and (2) be liable for plan liabilities attributable to employees of the noncompliant employer. For the purposes of this bill, a defined contribution plan that is established or maintained for the purpose of providing benefits to the employees of two or more employers and that meets certain requirements (a pooled employer plan) is treated for the purposes of ERISA as a single plan that is a multiple employer plan. The bill modifies reporting requirements under ERISA that apply to pooled employer and multiple employer plans.

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

Timeline

1. 3 February 2017

   Introduced

   Referred to the Committee on Education and the Workforce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

2. 3 February 2017

   Introduced

   Referred to the Committee on Education and the Workforce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

3. 3 February 2017

   Introduced

   Introduced in House

   Source: IntroReferral

4. 3 February 2017

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 3 February 2017 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 3 February 2017

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 3 February 2017

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 3 February 2017

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Buchanan, Vern [R-FL-16] · R · Sponsor
• Rep. Neal, Richard E. [D-MA-1] · D · Sponsor
• James Renacci · R · Sponsor
• Rep. Kind, Ron [D-WI-3] · D · Sponsor
• Rep. Barr, Andy [R-KY-6] · R · Cosponsor
• Rep. Rooney, Francis [R-FL-19] · R · Cosponsor
• · hswm00 · Standing
• · hsed00 · Standing

Related records

• related to → Shiloh National Military Park Boundary Adjustment and Parker's Crossroads Battlefield Designation Act
• related to → Retirement Security for American Workers Act
• related to ← Retirement Security Act of 2017
• related to ← Automatic Retirement Plan Act of 2017
• related to ← Retirement Enhancement and Savings Act of 2018
• related to ← A bill to amend the Internal Revenue Code of 1986 and the Employee Retirement Income Security Act of 1974 to modify the requirements for multiple employer plans, and for other purposes.
• related to ← Family Savings Act of 2018
• related to ← Retirement Security for American Workers Act