S 4087 · 117th Congress · Labor and Employment
INFORM Act
Bill Progress
✓
Introduced2
Committee3
Senate Vote4
House5
EnactedLatest: Read twice and referred to the Committee on Health, Education, Labor, and Pensions.(2022-04-26)
Plain Language Summary
[AI summary unavailable — showing source text]
Information Needed for Financial Options Risk Mitigation or the INFORM Act This bill requires pension plan sponsors to provide certain information to participants and beneficiaries when the sponsor makes an offer to pay the plan's lifetime annuity as a lump sum. This includes the relative value of the lump sum option compared to the single life annuity and the qualified joint and survivor annuity, as well as the general tax rules for accepting such lump sum.…
Summarized by Claude AI · Non-partisan · For informational purposes only
Cosponsors (3)
2 Democrats1 Republican