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HR 1439 116th Congress House Labor and Employment Employee benefits and pensions Financial services and investments

Increasing Access to a Secure Retirement Act of 2019

Introduced: February 28, 2019 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
Feb 28, 2019
Referred to the House Committee on Education and Labor.
Feb 28, 2019
Introduced in House
 Plain-English summary Congressional Research Service

Increasing Access to a Secure Retirement Act of 2019

This bill specifies optional measures that a fiduciary for a pension plan may take in selecting an insurer for a guaranteed retirement income contract to assure that the fiduciary meets the prudent man standard of care required under the Employee Retirement Income Security Act of 1974 (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 February 28, 2019

Referred to the House Committee on Education and Labor.

 Committees of jurisdiction 1
 Cosponsors 3
All 3 Democratic 3