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HR 5853 111th Congress House Health Accounting and auditing Administrative law and regulatory procedures Congressional oversight Department of Health and Human Services Employee benefits and pensions Government trust funds Health care costs and insurance Legislative rules and procedure

Fiscal Responsibility and Retirement Security Act

Introduced: July 26, 2010 See on congress.gov
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 Everywhere this bill has been 4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 26, 2010
Referred to House Rules
Jul 26, 2010
Referred to the Committee on Energy and Commerce, and in addition to the Committee on Rules, 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.
Jul 26, 2010
Referred to House Energy and Commerce
Jul 26, 2010
Introduced in House
 Plain-English summary Congressional Research Service

Fiscal Responsibility and Retirement Security Act - Amends the Public Health Service Act, as amended by the Patient Protection and Affordable Care Act, to require congressional approval of the designation by the Secretary of Health and Human Services (HHS) of a benefit plan as the CLASS Independence Benefit Plan under the CLASS program (a national, voluntary insurance program for purchasing community living assistance services and supports). Sets forth procedures for such congressional approval by joint resolution.

Prohibits an employer from enrolling an employee in the CLASS program without providing specified notice to the employee, which includes: (1) the significant risk of failure of such a program; (2) information on deficits that the program is expected to run; (3) a statement that there is no separate pool of money set aside to pay the CLASS program benefits; and (4) an explanation of the immediate termination of the program if it is reported to be actuarially unsound.

Prohibits premiums from being collected before the Secretary has promulgated the required regulations in final form.

Terminates such program if the report by the Board of Trustees of the CLASS Independence Fund indicates that the Fund is projected to be actuarially unsound over the 75-year period beginning with the fiscal year in which such report is submitted. Establishes a refund process.

What's happening now July 26, 2010

Referred to House Rules

 Committees of jurisdiction 2
 Cosponsors 2
All 2 Republican 2