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Simplifying Retirement Savings for Small Businesses

This act aims to make it easier for small businesses to offer retirement plans to their employees. It modifies audit rules for group retirement plans and clarifies the responsibilities of those managing these plans. The goal is to increase access to retirement savings for more individuals.
Key points
Simplifies audit requirements for group retirement plans, potentially reducing costs for small businesses.
Strengthens accountability for collecting contributions in group retirement plans, enhancing savings security.
Mandates the Department of Labor to regularly report on the performance of pooled employer plans, ensuring transparency and potential for further improvements.
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Expired
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Additional Information
Print number: 117_S_4154
Sponsor: Sen. Hickenlooper, John W. [D-CO]
Process start date: 2022-05-05
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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

Simplifying Small Business Retirement Savings Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_4154.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2022-05-05.

What are the main provisions?

Key points include:

  • Simplifies audit requirements for group retirement plans, potentially reducing costs for small businesses.
  • Strengthens accountability for collecting contributions in group retirement plans, enhancing savings security.
  • Mandates the Department of Labor to regularly report on the performance of pooled employer plans, ensuring transparency and potential for further improvements.
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. Hickenlooper, John W. [D-CO].

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.

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