Bill > HR185

This bill, the Responsible Legislating Act, is a comprehensive piece of legislation that makes numerous modifications to retirement plans, tax provisions, and other areas of federal law. The bill includes several key provisions related to retirement savings and benefits: extending the Livestock Mandatory Reporting Act, providing entrepreneurship training for separating members of the Armed Forces, enhancing retirement plan options, and creating a Retirement Savings Lost and Found database. It introduces new rules for retirement plan contributions, including allowing employers to make matching contributions for student loan payments, expanding automatic enrollment in retirement plans, and providing more flexible withdrawal options for participants experiencing hardship or domestic abuse. The bill also includes provisions to simplify retirement plan administration, such as creating safe harbors for correcting administrative errors and reducing unnecessary reporting requirements for unenrolled participants. Additionally, the legislation makes technical amendments to various existing retirement and tax laws, aims to improve retirement plan compliance, and provides tax incentives for small employers and military spouses. The bill covers a wide range of topics beyond retirement, including establishing a commission to study a potential National Museum of Asian Pacific American History and Culture, creating a program to boost semiconductor supply chain investments, and making changes to various federal agency operations.

Agriculture and Natural Resources, Budget and Finance, Business and Industry

https://www.congress.gov/bill/119th-congress/house-bill/185/all-info