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- S.4406
S.4406: Advancing Auto-Portability Act of 2022
About This Bill
- Introduced June 15, 2022
- Latest Major Action June 15, 2022
Bill Sponsor
Bill Cosponsors
Bill Version
- Introduced in Senate - June 15, 2022
Bill Summary
Advancing Auto-Portability Act of 2022 This bill allows employees to transfer their retirement account upon terminating their employment to a similar account with a new employer. Specifically, it makes such transfers automatic, subject to the right of employees to opt out. It imposes certain requirements upon an automatic portability provider, including a requirement that the provider acknowledge its fiduciary status and provide a notice in...
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
| June 15, 2022 |
Read twice and referred to the Committee on Finance.
|
| June 15, 2022 |
Introduced in the Senate by Tim Scott (R-S.C.) |