Skip to main content
S 4406 117th Congress Senate Taxation

Advancing Auto-Portability Act of 2022

Introduced: June 15, 2022 Introduced by: Scott, Tim Republican · South Carolina See on congress.gov
Sign in to write a letter Sign in to watch
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
Jun 15, 2022
Introduced in Senate
Jun 15, 2022
Read twice and referred to the Committee on Finance.
 Ask about this bill AI · grounded in the bill text

Have a question about what this bill does? Ask in plain English; the answer is drawn from the bill's actual text and official record, and it'll tell you when something isn't in the text rather than guess.

AI answers can be imperfect; always confirm against the full bill text.

 Plain-English summary Congressional Research Service

Advancing Auto-Portability Act of 2022

This bill allows employees to transfer their retirement account upon terminating their employment to a similar account with a new employer. Specifically, it makes such transfers automatic, subject to the right of employees to opt out. It imposes certain requirements upon an automatic portability provider, including a requirement that the provider acknowledge its fiduciary status and provide a notice in advance to an employee whose retirement account is being transferred that contains a description of the automatic portability transaction and any fees charged in connection with the transaction.

This bill also allows an eligible employer a $500 tax credit in the year that an automatic portability arrangement is adopted.

What's happening now June 15, 2022

Read twice and referred to the Committee on Finance.

 Related & companion bills 2
  • S 4808 Related bill EARN Act
  • HR 9252 Identical bill Advancing Auto-Portability Act of 2022
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1
D
Warnock, Raphael G.
Georgia · Dec 21, 2022
Cite this page click to expand
APA
U.S. Congress. (2026). S. 4406: Advancing Auto-Portability Act of 2022. 117th Congress. Open America. https://openamerica.io/bill/117-S-4406/
MLA
"S. 4406: Advancing Auto-Portability Act of 2022." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-S-4406/.
Bluebook (legal)
S. 4406, 117th Cong. (2026), https://openamerica.io/bill/117-S-4406/.
Markdown link
[S. 4406: Advancing Auto-Portability Act of 2022](https://openamerica.io/bill/117-S-4406/)
Report a problem