S 4154 · 117th Congress · Labor and Employment

Simplifying Small Business Retirement Savings Act

Introduced 2022-05-05· Sponsored by Sen. Hickenlooper, John W. [D-CO]· Senate

Bill Progress

✓
Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Read twice and referred to the Committee on Health, Education, Labor, and Pensions.(2022-05-05)

Plain Language Summary

[AI summary unavailable — showing source text] Simplifying Small Business Retirement Savings Act This bill requires pooled employer retirement plans to designate a named fiduciary to collect contributions to the plan and implement written contribution collection procedures that are reasonable, diligent, and systematic. Current law requires a plan to designate one or more trustees to perform these tasks. The bill also revises the requirements for combined annual reporting for a group of plans.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (1)

1 Republican
Sen. Collins, Susan M. [R-ME]ME