S. 4087 · 117th Congress
INFORM Act
- Stage
- In committee
- Sponsor
- Patty Murray
- Introduced
- 2022-04-26
- Latest action
- 2022-04-26 · Introduced in Senate
Summary
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 single life annuity and the qualified joint and survivor annuity, as well as the general tax rules for accepting such lump sum.