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Improving Access to Retirement Savings Act

Introduced: May 19, 2021 Introduced by: Grassley, Chuck Republican · Iowa See on congress.gov
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This bill died when the 117th Congress ended
It never became law before the 117th Congress (2021–2022) 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
May 19, 2021
Read twice and referred to the Committee on Finance.
May 19, 2021
Introduced in Senate
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 Plain-English summary Congressional Research Service

Improving Access to Retirement Savings Act

This bill allows employers who establish a tax-exempt 403(b) pension plan to participate in a multiple employer plan (MEP) and to take the small employer pension plan start-up tax credit for their first three years of participation in a MEP.

The bill also establishes a safe harbor to allow certain pension plans to correct errors in administering automatic enrollment and escalation features for plans enrolling in a MEP, if such errors are corrected within a specified time period in a manner favorable to plan participants. It also permits employers that amend a stock bonus, pension, profit sharing, or annuity plan for a previous plan year to increase benefits accruals to elect to treat such amendment as having been adopted at the end of the current plan year.

What's happening now May 19, 2021

Read twice and referred to the Committee on Finance.

 Related & companion bills 1
  • HR 2954 Related bill Securing a Strong Retirement Act of 2022
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Democratic 1 Republican 1
D
Hassan, Margaret Wood
New Hampshire · May 19, 2021
 R
Lankford, James
Oklahoma · May 19, 2021
Cite this page click to expand
APA
U.S. Congress. (2026). S. 1703: Improving Access to Retirement Savings Act. 117th Congress. Open America. https://openamerica.io/bill/117-S-1703/
MLA
"S. 1703: Improving Access to Retirement Savings Act." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-S-1703/.
Bluebook (legal)
S. 1703, 117th Cong. (2026), https://openamerica.io/bill/117-S-1703/.
Markdown link
[S. 1703: Improving Access to Retirement Savings Act](https://openamerica.io/bill/117-S-1703/)
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