INFORM Act
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in senate (Apr 26, 2022)
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.
What just happenedApr 26, 2022
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Who’s behind it
- Introduced in SenateApr 26, 2022
- Apr 26, 2022IntroReferral
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Health, Education, Labor, and Pensions Committee - Apr 26, 2022IntroReferral10000
Introduced in Senate