118th Congress · HOUSE BILLBILL

H.R. 3942 — Lifetime Income For Employees Act

“To amend the Employee Retirement Income Security Act of 1974 to permit default investment arrangements in annuities, and for other purposes.”

Labor and employment

Introduced Jun 9, 2023

Last action Jun 9, 2023

Pipeline · Bill → Law

Step 1

Introduced

Jun 9, 2023

Step 2

Referred

Jun 9, 2023

Education and Workforce

Step 3

Committee

Step 4

House floor

Step 5

Senate

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

This bill allows fiduciaries of pension plans to make default investment arrangements in annuity contracts upon providing certain notice to plan participants or beneficiaries and complying with certain prohibitions on liquidity restrictions.

Provisions · 2 sectionsIntroduced in House

Timeline · 2 actions

Jun 9, 2023

Introduced in House

Jun 9, 2023

Referred to the House Committee on Education and the Workforce.