Simplifying Small Business Retirement Savings Act

Senate Bill 4154 - Simplifying Small Business Retirement Savings Act: Overview, Status, and Impact

Hozzl · 2023-08-31T16:45:22Z

Explore the details of Senate Bill 4154 Simplifying Small Business Retirement Savings Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Labor and Employment. Stay informed on legislative developments.

8/31/2023, 4:45 PM

Congressional Summary of S 4154

Simplifying Small Business Retirement Savings Act

This bill requires pooled employer retirement plans to designate a named fiduciary to collect contributions to the plan and implement written contribution collection procedures that are reasonable, diligent, and systematic. Current law requires a plan to designate one or more trustees to perform these tasks.

The bill also revises the requirements for combined annual reporting for a group of plans.

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Current Status of Bill S 4154

Bill S 4154 is currently in the status of Bill Introduced since May 5, 2022. Bill S 4154 was introduced during Congress 117 and was introduced to the Senate on May 5, 2022. Bill S 4154's most recent activity was Read twice and referred to the Committee on Health, Education, Labor, and Pensions. as of May 5, 2022