Increasing Access to a Secure Retirement Act of 2019
- Last Action
- 2/28/2019
Actions
- 2019-02-28Referred to the House Committee on Education and Labor.
- 2019-02-28Introduced in House
- 2019-02-28Introduced in House
CRS Summary
As of 2019-02-28 (00)
Increasing Access to a Secure Retirement Act of 2019
This bill specifies optional measures that a fiduciary for a pension plan may take in selecting an insurer for a guaranteed retirement income contract to assure that the fiduciary meets the prudent man standard of care required under the Employee Retirement Income Security Act of 1974 (ERISA).
A "guaranteed retirement income contract" is an annuity contract for a fixed term or a contract (or provision or feature thereof) which provides guaranteed benefits annually (or more frequently) for at least the remainder of the life of the participant or joint lives of the participant and the participant's designated beneficiary as part of a defined contribution plan.
Cosponsors (7)
- Lisa Blunt Rochester (D-DE)
- David Roe (R-TN)
- Terri Sewell (D-AL)
- David Loebsack (D-IA)
- Paul Mitchell (R-MI)
- Joseph Morelle (D-NY)
- Ron Wright (R-TX)
Subjects
- Employee benefits and pensions
- Financial services and investments
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.