H.R.1439 - Increasing Access to a Secure Retirement Act of 2019116th Congress (2019-2020) |
|Sponsor:||Rep. Walberg, Tim [R-MI-7] (Introduced 02/28/2019)|
|Committees:||House - Education and Labor|
|Latest Action:||House - 02/28/2019 Referred to the House Committee on Education and Labor. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
- Passed House
- Passed Senate
- To President
- Became Law
Summary: H.R.1439 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in House (02/28/2019)
Increasing Access to a Secure Retirement Act of 2019
This bill specifies optional measures that a fiduciary for a pension plan may take in selecting an insurer for a guaranteed retirement income contract to assure that the fiduciary meets the prudent man standard of care required under the Employee Retirement Income Security Act of 1974 (ERISA).
A "guaranteed retirement income contract" is an annuity contract for a fixed term or a contract (or provision or feature thereof) which provides guaranteed benefits annually (or more frequently) for at least the remainder of the life of the participant or joint lives of the participant and the participant's designated beneficiary as part of a defined contribution plan.