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New rules for collecting contributions to pooled employer retirement plans

This act changes how pooled employer retirement plans are managed, requiring an independent person to be responsible for collecting contributions. This aims to increase the security and transparency of citizens' retirement savings, ensuring that contributions are collected in an orderly and procedural manner.
Key points
Designation of an independent fiduciary to collect contributions in retirement plans.
Requirement to implement written, reasonable, and systematic contribution collection procedures.
article Official text account_balance Process page
Expired
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Additional Information
Print number: 117_HR_6912
Sponsor: Rep. Allen, Rick W. [R-GA-12]
Process start date: 2022-03-03
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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

Pooled Employer Plan Fix Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_6912.

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 2022-03-03.

What are the main provisions?

Key points include:

  • Designation of an independent fiduciary to collect contributions in retirement plans.
  • Requirement to implement written, reasonable, and systematic contribution collection procedures.
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. Allen, Rick W. [R-GA-12].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Education and Labor.

Is this summary verified?

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

CATEGORIES

Labor Benefits