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H.R. 2367: Lifetime Income Disclosure Act

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About the bill

Would seeing your estimated monthly retirement benefits cause you to make better financial decisions, such as how long to keep working?

Context and what the bill does

Since 1989, the federal government has required Social Security annual statements to beneficiaries, which include an estimate of the recipient’s monthly earnings under the program. There is no equivalent requirement for private sector retirement programs, such as for 401(k) plans.

The Lifetime Income Disclosure Act would require certain private sector retirement plans like 401(k) to include on their statements an estimate of the recipient’s monthly benefits, based on their current retirement balance.

It was introduced in the House on April 25 as bill number H.R. 2367, by Rep. Mark Pocan (D-WI2).

What supporters say

Supporters argue the bill ...

Sponsor and status

Mark Pocan

Sponsor. Representative for Wisconsin's 2nd congressional district. Democrat.

Read Text »
Last Updated: Apr 25, 2019
Length: 7 pages
Introduced
Apr 25, 2019
116th Congress (2019–2021)
Status

Enacted Via Other Measures

Provisions of this bill were incorporated into other bills which were enacted, so there will not likely be further activity on this bill.

This bill was incorporated into:

H.R. 1865: Further Consolidated Appropriations Act, 2020
Enacted — Signed by the President on Dec 20, 2019. (compare text)
Prognosis
2% chance of being enacted according to Skopos Labs (details)
Source

History

Apr 25, 2019
 
Introduced

Bills and resolutions are referred to committees which debate the bill before possibly sending it on to the whole chamber.

H.R. 2367 is a bill in the United States Congress.

A bill must be passed by both the House and Senate in identical form and then be signed by the President to become law.

Bills numbers restart every two years. That means there are other bills with the number H.R. 2367. This is the one from the 116th Congress.

How to cite this information.

We recommend the following MLA-formatted citation when using the information you see here in academic work:

“H.R. 2367 — 116th Congress: Lifetime Income Disclosure Act.” www.GovTrack.us. 2019. September 30, 2020 <https://www.govtrack.us/congress/bills/116/hr2367>

Where is this information from?

GovTrack automatically collects legislative information from a variety of governmental and non-governmental sources. This page is sourced primarily from Congress.gov, the official portal of the United States Congress. Congress.gov is generally updated one day after events occur, and so legislative activity shown here may be one day behind. Data via the congress project.