Senators revisit bill to create retirement account lost-and-

Senators revisit bill to create retirement account lost-and-found


Senators revisit bill to create retirement account lost-and-found
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A bipartisan bill to create a national online lost-and-found database for retirement accounts has been reintroduced in the Senate.
Sens. Elizabeth Warren, D-Mass., and Steve Daines, R-Mont., reintroduced the Retirement Savings Lost and Found Act of 2021 on May 21, in an effort to reduce the number of missing participants.
The bill, which Ms. Warren and Mr. Daines first introduced in 2016, would use data that employers are already required to report to create the database and would require plan sponsors to send lost, uncashed checks of less than $1,000 to the Office of Retirement Savings Lost and Found — which the bill directs the secretaries of Treasury, Labor and Commerce to create — so that individuals can locate their money.

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