Bill > HR5891

This bill, the Retirement Improvement and Savings Enhancement Act of 2021 or the RISE Act, aims to improve and enhance retirement savings in several ways. Key provisions include: 1) Establishing a "Retirement Savings Lost and Found" database to help individuals locate administrators of retirement plans they have participated in. 2) Increasing the cash-out limit for retirement plans from $5,000 to $7,000. 3) Allowing multiple employer 403(b) plans and treating them as a single plan for certain reporting and disclosure requirements. 4) Permitting small financial incentives to encourage employee contributions to retirement plans. 5) Providing more flexibility in selecting performance benchmarks for asset allocation funds in retirement plans. 6) Modifying requirements related to collecting contributions in pooled employer plans. 7) Reviewing interpretive guidance on selecting annuity providers for defined benefit pension plans. 8) Eliminating certain disclosure requirements for "unenrolled participants" in individual account retirement plans. 9) Providing rules around the recovery of unintended retirement plan overpayments.

Education

https://www.congress.gov/bill/117th-congress/house-bill/5891/all-info