Protecting America’s Retirement Security Act of 2022
Latest action · Dec 20, 2022 Placed on the Union Calendar, Calendar No. 471.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedMar 31, 2022
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Protecting America's Retirement Security Act of 2022
This bill makes various changes with respect to the administration of employer-sponsored retirement plans, including establishing additional spousal consent requirements for distributions under such plans and requiring the periodic automatic reenrollment of nonparticipating employees in automatic contribution arrangements that take effect after December 31, 2024.
The bill also requires the Department of Education, in consultation with relevant agencies, to establish a personal finance education portal that includes information about savings, investing, borrowing, and managing student loan repayment.
Cosponsors 16
Members who signed on, in the order they did. Signatures ran from Mar 31, 2022 to May 10, 2022; 5 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-NJ | Bonnie Watson Coleman | Original | Mar 31, 2022 |
| D-CT | Joe Courtney | Original | Mar 31, 2022 |
| D-NC | Kathy E. Manning | Original | Mar 31, 2022 |
| D-IL | Lauren Underwood | Original | Mar 31, 2022 |
| D-VA | Robert C. "Bobby" Scott | Original | Mar 31, 2022 |
| D-MI | Andy Levin | Apr 1, 2022 | |
| D-MP | Gregorio Kilili Camacho Sablan | Apr 1, 2022 | |
| D-MD | Kweisi Mfume | Apr 1, 2022 | |
| D-NM | Teresa Leger Fernandez | Apr 1, 2022 | |
| D-OR | Suzanne Bonamici | Apr 4, 2022 | |
| D-IN | Frank J. Mrvan | Apr 5, 2022 | |
| D-NY | Adriano Espaillat | Apr 6, 2022 | |
| D-CA | Mark Takano | Apr 6, 2022 | |
| D-CA | Mark DeSaulnier | Apr 14, 2022 | |
| D-MI | Haley M. Stevens | May 10, 2022 | |
| D-WI | Mark Pocan | May 10, 2022 |
Committees 2
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Education and Workforce Committee | Referred Mar 31, 2022Markup Apr 5, 2022Reported Nov 14, 2022 |
| House | Ways and Means Committee | Referred Mar 31, 2022Discharged Dec 20, 2022 |
Actions 8
Everything that happened, newest first.
- Dec 20, 2022Committee on Ways and Means discharged.
- Dec 20, 2022Placed on the Union Calendar, Calendar No. 471.
- Nov 14, 2022Reported (Amended) by the Committee on Education and Labor. H. Rept. 117-557, Part I.
- Nov 14, 2022House Committee on Ways and Means Granted an extension for further consideration ending not later than Jan. 2, 2023.
- Apr 5, 2022Committee Consideration and Mark-up Session Held.
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Committee report
Constitutional authority
The sponsor’s statement, as printed in the Congressional Record, vol. 168, no. 57, March 31, 2022, page H4073.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 7284 | Informed Savers Act | Related bill | Mar 30, 2022 |
Titles 3
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To protect America's retirement security, and for other purposes.
- Short Title(s) as Introduced
- Protecting America’s Retirement Security Act
- Short Title(s) as Reported to House
- Protecting America’s Retirement Security Act of 2022
Subjects
Assigned by the Library of Congress. Policy area: Labor and Employment.
- Adult education and literacy
- Bank accounts, deposits, capital
- Business ethics
- Computers and information technology
- Congressional oversight
- Employee benefits and pensions
- Employment and training programs
- Family relationships
- Financial services and investments
- Government information and archives
- Government trust funds
- Higher education
- Income tax deferral
- Inflation and prices
- Intergovernmental relations
- Labor and Employment
- Labor-management relations
- Marriage and family status
- Performance measurement
- State and local government operations
- Student aid and college costs
- Tax administration and collection, taxpayers
- User charges and fees
Text 2
Each version as it was printed, newest first.
- Dec 20, 2022Reported in House
- Mar 31, 2022Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
