INFORM Act
Summary
Information Needed for Financial Options Risk Mitigation or the INFORM Act This bill requires pension plan sponsors to provide certain information to participants and beneficiaries when the sponsor makes an offer to pay the plan's lifetime annuity as a lump sum. This includes the relative value of the lump sum option compared to the single life annuity and the qualified joint and survivor annuity, as well as the general tax rules for accepting such lump sum.
Bill status
in committee
1 of 4 stages cleared
Introduction
Apr 2022
Committee Review
Floor Vote
President
Introduced Apr 26, 2022
Last action Apr 26, 2022
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
1
Apr 26, 2022
Committee
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
upper
Apr 26, 2022
Introduced
Introduced in Senate
upper
1 primary · 3 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Patty Murray
DDemocratic
Co
Bill Cassidy
RRepublican
Co
Tammy Baldwin
DDemocratic
Co
Tina Smith
DDemocratic
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