Simplifying Small Business Retirement Savings Act
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in senate (May 5, 2022)
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.
What just happenedMay 5, 2022
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Who’s behind it
- Introduced in SenateMay 5, 2022
- May 5, 2022IntroReferral
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Health, Education, Labor, and Pensions Committee - May 5, 2022IntroReferral10000
Introduced in Senate