S. 4154 · 117th Congress
Simplifying Small Business Retirement Savings Act
- Stage
- In committee
- Sponsor
- John Hickenlooper
- Introduced
- 2022-05-05
- Latest action
- 2022-05-05 · Introduced in Senate
Summary
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.