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Easier Access to Lost Retirement Savings

This act establishes a central, searchable database to help citizens locate forgotten or lost retirement plans. It will make it easier to access accumulated funds, even if they have changed jobs or companies have changed names. Additionally, it increases the amount of automatically transferred small retirement benefits and streamlines reporting processes.
Key points
Creation of an online database "Retirement Savings Lost and Found" to help individuals find information about their retirement plans.
Increase in the automatic rollover limit for small retirement benefits from $5,000 to $6,000, meaning more people will have their funds automatically secured.
Requirement for plan administrators to transfer funds under $1,000 to the new database if a participant does not respond to contact attempts.
Improved reporting and electronic filing requirements for retirement plans to enhance transparency and accuracy.
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Expired
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Additional Information
Print number: 117_S_1730
Sponsor: Sen. Warren, Elizabeth [D-MA]
Process start date: 2021-05-20
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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

Retirement Savings Lost and Found Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_1730.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-05-20.

What are the main provisions?

Key points include:

  • Creation of an online database "Retirement Savings Lost and Found" to help individuals find information about their retirement plans.
  • Increase in the automatic rollover limit for small retirement benefits from $5,000 to $6,000, meaning more people will have their funds automatically secured.
  • Requirement for plan administrators to transfer funds under $1,000 to the new database if a participant does not respond to contact attempts.
  • Improved reporting and electronic filing requirements for retirement plans to enhance transparency and accuracy.
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 Sen. Warren, Elizabeth [D-MA].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

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