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INFORM Act
2/8/2022, 11:15 PM
Congressional Summary of S 3417
Information Needed for Financial Options Risk Mitigation or the INFORM Act
This bill requires pension plan sponsors to provide certain information to participants and beneficiaries when the sponsor makes an offer to pay the plan's lifetime annuity as a lump sum. This includes the relative value of the lump sum option compared to the lifetime annuity and the general tax rules for accepting such lump sum.
Read the Full Bill
Current Status of Bill S 3417
Bill S 3417 is currently in the status of Bill Introduced since March 9, 2020. Bill S 3417 was introduced during Congress 116 and was introduced to the Senate on March 9, 2020. Bill S 3417's most recent activity was Read twice and referred to the Committee on Health, Education, Labor, and Pensions. as of March 9, 2020
Bipartisan Support of Bill S 3417
Total Number of Sponsors
1Democrat Sponsors
1Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
2Democrat Cosponsors
2Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill S 3417
Primary Policy Focus
Labor and EmploymentAlternate Title(s) of Bill S 3417
INFORM Act
INFORM Act
Information Needed for Financial Options Risk Mitigation
A bill to require pension plans that offer participants and beneficiaries the option of receiving lifetime annuity payments as lump sum payments, to meet certain notice and disclosure requirements.
Comments
Sponsors and Cosponsors of S 3417
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