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New Starter 401(k) Plans for Small Businesses

This act introduces new, simplified 401(k) retirement plans for employers who previously did not offer any retirement savings programs. This makes it easier for more people to save for their future, with automatic enrollment and an opt-out option.
Key points
Easier Retirement Savings: Employers without existing retirement plans can now offer simple 401(k) plans.
Automatic Enrollment: Employees are automatically enrolled but can opt out or adjust their contribution levels.
Contribution Limits: Annual employee contributions are capped at $6,000, with higher limits for those aged 50 and over.
Simplified Rules: New plans are exempt from certain complex reporting and top-heavy plan rules.
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Status:
Expired
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Additional Information
Print number: 117_S_3955
Sponsor: Sen. Barrasso, John [R-WY]
Process start date: 2022-03-30
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Starter-K Act of 2022

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_3955.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2022-03-30.

What are the main provisions?

Key points include:

  • Easier Retirement Savings: Employers without existing retirement plans can now offer simple 401(k) plans.
  • Automatic Enrollment: Employees are automatically enrolled but can opt out or adjust their contribution levels.
  • Contribution Limits: Annual employee contributions are capped at $6,000, with higher limits for those aged 50 and over.
  • Simplified Rules: New plans are exempt from certain complex reporting and top-heavy plan rules.
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. Barrasso, John [R-WY].

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.

What is the impact of this bill?

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

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