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Retirement Savings Enhancement: Easier Access, Lost Funds Recovery, and Overpayment Rules.

This act aims to simplify retirement savings for citizens and help them locate lost retirement funds. It introduces changes that may increase access to retirement plans, especially for part-time workers, and streamlines rules regarding overpayments and communication with plan participants.
Key points
Establishment of an online database, 'Retirement Savings Lost and Found,' to help individuals locate lost retirement funds.
Increase in the automatic rollover limit for small retirement plan balances from $5,000 to $7,000, simplifying fund management.
Allowing employers to offer small financial incentives for joining a retirement plan, potentially encouraging participation.
Improving access to retirement plans for part-time workers by reducing the required service period.
Simplifying rules for retirement plan overpayments, protecting participants from undue repayment demands.
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Expired
Citizen Poll
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Additional Information
Print number: 117_HR_5891
Sponsor: Rep. Scott, Robert C. "Bobby" [D-VA-3]
Process start date: 2021-11-05
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

RISE Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_5891.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-11-05.

What are the main provisions?

Key points include:

  • Establishment of an online database, 'Retirement Savings Lost and Found,' to help individuals locate lost retirement funds.
  • Increase in the automatic rollover limit for small retirement plan balances from $5,000 to $7,000, simplifying fund management.
  • Allowing employers to offer small financial incentives for joining a retirement plan, potentially encouraging participation.
  • Improving access to retirement plans for part-time workers by reducing the required service period.
  • Simplifying rules for retirement plan overpayments, protecting participants from undue repayment demands.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Scott, Robert C. "Bobby" [D-VA-3].

What is the latest detailed status?

The latest detailed status is: Placed on the Union Calendar, Calendar No. 180.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

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