A bill to provide better access to retirement plans through small businesses.
Simplifying Small Business Retirement Savings Act
This bill requires pooled employer retirement plans to designate a named fiduciary to collect contributions to the plan and implement written contribution collection procedures that are reasonable, diligent, and systematic. Current law requires a plan to designate one or more trustees to perform these tasks.
The bill also revises the requirements for combined annual reporting for a group of plans.
Referred to the House Committee on Education and Labor.
Placed on Senate Legislative Calendar under General Orders. Calendar No. 426.
Introduced in Senate
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line