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HR 2171 113th Congress House Labor and Employment Administrative law and regulatory procedures Department of Labor Employee benefits and pensions Government information and archives

Lifetime Income Disclosure Act

Introduced: May 23, 2013 See on congress.gov
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This bill died when the 113th Congress ended
It never became law before the 113th Congress (2013–2014) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 8, 2013
Referred to the Subcommittee on Health, Employment, Labor, and Pensions.
May 23, 2013
Referred to the House Committee on Education and the Workforce.
May 23, 2013
Introduced in House
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 Plain-English summary Congressional Research Service

Lifetime Income Disclosure Act - Amends the Employee Retirement Income Security Act of 1974 (ERISA) to require the quarterly pension benefit statement furnished to a participant or beneficiary with the right to direct the investment of assets in his or her account under an individual account plan to include a lifetime income disclosure at least once during any 12-month period.

Requires such lifetime income disclosure to set forth the lifetime income stream equivalent of the participant's or beneficiary's total benefits accrued. Defines a lifetime income stream equivalent of the total benefits accrued as the monthly annuity payment the participant or beneficiary would receive if those total accrued benefits were used to provide lifetime income streams to a qualified joint and survivor annuitant.

Directs the Secretary of Labor to: (1) issue a model lifetime income disclosure, written in a manner which can be understood by the average plan participant; and (2) prescribe assumptions that plan administrators may use in converting total accrued benefits into lifetime income stream equivalents.

Declares that no plan fiduciary, plan sponsor, or other person shall have any liability under ERISA solely by reason of the provision of lifetime income stream equivalents derived in accordance with such assumptions and related rules and including explanations contained in the model lifetime income disclosure.

What's happening now July 8, 2013

Referred to the Subcommittee on Health, Employment, Labor, and Pensions.

 Related & companion bills 4
  • HR 4376 Related bill Retirement Security Act of 2014
  • HR 5875 Related bill SAVE Act of 2014
  • S 1970 Related bill Retirement Security Act of 2014
  • S 1145 Identical bill Lifetime Income Disclosure Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 3
All 3 Democratic 1
D
Pocan, Mark
Wisconsin · Mar 11, 2014
PETRI, TOM
· May 23, 2013
Reichert, David
· May 23, 2013
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 2171: Lifetime Income Disclosure Act. 113th Congress. Open America. https://openamerica.io/bill/113-HR-2171/
MLA
"H.R. 2171: Lifetime Income Disclosure Act." 113th Congress, 2026, Open America, https://openamerica.io/bill/113-HR-2171/.
Bluebook (legal)
H.R. 2171, 113th Cong. (2026), https://openamerica.io/bill/113-HR-2171/.
Markdown link
[H.R. 2171: Lifetime Income Disclosure Act](https://openamerica.io/bill/113-HR-2171/)
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