RISE & SHINE Act

Hozzl · 2023-09-05T13:48:55Z

Explore the details of Senate Bill 4353 RISE & SHINE Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Labor and Employment. Stay informed on legislative developments.

9/5/2023, 1:48 PM

Congressional Summary of S 4353

Retirement Improvement and Savings Enhancement to Supplement Healthy Investments for the Nest Egg Act or the RISE & SHINE Act

This bill makes various changes with respect to employer-sponsored retirement plans.

For example, the bill allows plans sponsored by charities, educational institutions, and nonprofit organizations (i.e., 403(b) retirement plans) to participate in multiple employer plans and pooled employer plans.

The bill also revises the notice and disclosure requirements for certain retirement plans, and it permits plan sponsors to make emergency savings accounts available to participants of defined contribution plans.

Read the Full Bill

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Current Status of Bill S 4353

Bill S 4353 is currently in the status of Bill Introduced since June 7, 2022. Bill S 4353 was introduced during Congress 117 and was introduced to the Senate on June 7, 2022. Bill S 4353's most recent activity was Placed on Senate Legislative Calendar under General Orders. Calendar No. 426. as of June 21, 2022

Bipartisan Support of Bill S 4353

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 4353

Primary Policy Focus

Labor and Employment

Potential Impact Areas

- Accounting and auditing

- Administrative law and regulatory procedures

- Bank accounts, deposits, capital

- Business ethics

- Congressional oversight

- Credit and credit markets

- Department of Labor

- Department of the Treasury

- Elementary and secondary education

- Employee benefits and pensions

- Employment and training programs

- Federal preemption

- Federal-Indian relations

- Government information and archives

- Government studies and investigations

- Higher education

- Income tax deferral

- Inflation and prices

- Interest, dividends, interest rates

- Intergovernmental relations

- Labor-management relations

- Social work, volunteer service, charitable organizations

- Tax-exempt organizations

- Temporary and part-time employment

- User charges and fees

Alternate Title(s) of Bill S 4353

RISE & SHINE Act

Retirement Improvement and Savings Enhancement to Supplement Healthy Investments for the Nest Egg Act

WORK Act

Worker Ownership, Readiness, and Knowledge Act

INFORM Act

Information Needed for Financial Options Risk Mitigation Act

Emergency Savings Act of 2022

RISE & SHINE Act

Information Needed for Financial Options Risk Mitigation Act

RISE & SHINE Act

Retirement Improvement and Savings Enhancement to Supplement Healthy Investments for the Nest Egg Act

WORK Act

Worker Ownership, Readiness, and Knowledge Act

INFORM

Emergency Savings Act of 2022

A bill to amend the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code of 1986 to improve retirement plan provisions, and for other purposes.