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HR 2367 116th 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: April 25, 2019 Introduced by: Pocan, Mark Democratic · Wisconsin See on congress.gov
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This bill died when the 116th Congress ended
It never became law before the 116th Congress (2019–2020) 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 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 25, 2019
Referred to the House Committee on Education and Labor.
Apr 25, 2019
Introduced in House
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 Plain-English summary Congressional Research Service

Lifetime Income Disclosure Act

This bill requires pension benefit statements to include a lifetime income disclosure at least once during any 12-month period.

The disclosure must set forth the lifetime income stream equivalent of the total benefits accrued with respect to the participant or beneficiary. The "lifetime income stream equivalent of the total benefits accrued" is the amount of monthly payments the participant or beneficiary would receive if the total accrued benefits were used to provide lifetime income streams based on certain assumptions, including that the participant or beneficiary has a spouse of equal age and a single life annuity.

The Department of Labor must issue a model lifetime income disclosure, assumptions that plan administrators may use in converting total accrued benefits into lifetime income stream equivalents, and related rules.

No plan fiduciary, sponsor, or other person may be liable under the Employee Retirement Income Security Act of 1974 (ERISA) solely due to the provision of lifetime income stream equivalents derived in accordance with the assumptions and related rules issued by Labor, including explanations contained in the model lifetime income disclosure.

What's happening now April 25, 2019

Referred to the House Committee on Education and Labor.

 Related & companion bills 6
  • HR 1865 Related bill Further Consolidated Appropriations Act, 2020
  • S 972 Related bill Retirement Enhancement and Savings Act of 2019
  • HR 1007 Related bill Retirement Enhancement and Savings Act of 2019
  • HR 1084 Related bill Family Savings Act of 2019
  • HR 1994 Related bill Setting Every Community Up for Retirement Enhancement Act of 2019
  • S 1574 Related bill Lifetime Income Disclosure Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 4
All 4 Democratic 2 Republican 1
D
Krishnamoorthi, Raja
Illinois · Apr 30, 2019
Meadows, Mark
· Apr 30, 2019
 R
Budd, Ted
North Carolina · Apr 25, 2019
 D
Suozzi, Thomas R.
New York · Apr 25, 2019
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 2367: Lifetime Income Disclosure Act. 116th Congress. Open America. https://openamerica.io/bill/116-HR-2367/
MLA
"H.R. 2367: Lifetime Income Disclosure Act." 116th Congress, 2026, Open America, https://openamerica.io/bill/116-HR-2367/.
Bluebook (legal)
H.R. 2367, 116th Cong. (2026), https://openamerica.io/bill/116-HR-2367/.
Markdown link
[H.R. 2367: Lifetime Income Disclosure Act](https://openamerica.io/bill/116-HR-2367/)
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