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HR 4604 115th Congress House Labor and Employment Employee benefits and pensions Financial services and investments

Increasing Access to a Secure Retirement Act of 2017

Introduced: December 7, 2017 Introduced by: Walberg, Tim Republican · Michigan See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 7, 2017
Referred to the House Committee on Education and the Workforce.
Dec 7, 2017
Introduced in House
 Plain-English summary Congressional Research Service

Increasing Access to a Secure Retirement Act of 2017

This bill amends the Employee Retirement Income Security Act of 1974 (ERISA) to specify optional measures that a fiduciary for a pension plan may take in selecting an insurer and a guaranteed retirement income contract to assure that the fiduciary meets the prudent man standard of care required under ERISA.

A "guaranteed retirement income contract" is an annuity contract for a fixed term or a contract (or provision or feature thereof) which provides guaranteed benefits annually (or more frequently) for at least the remainder of the life of the participant or joint lives of the participant and the participant's designated beneficiary as part of a defined contribution plan.

What's happening now December 7, 2017

Referred to the House Committee on Education and the Workforce.

 Committees of jurisdiction 1
 Cosponsors 3
All 3 Democratic 3