PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the House Committee on Ways and Means.
Congressional Research Service
Version 00 · Introduced in House · Oct 28, 2022
Advancing Auto-Portability Act of 2022
This bill allows employees to transfer their retirement account upon terminating their employment to a similar account with a new employer. Specifically, it makes such transfers automatic, subject to the right of employees to opt out. It imposes certain requirements upon an automatic portability provider, including a requirement that the provider acknowledge its fiduciary status and provide a notice in advance to an employee whose retirement account is being transferred that contains a description of the automatic portability transaction and any fees charged in connection with the transaction.
This bill also allows an eligible employer a $500 tax credit in the year that an automatic portability arrangement is adopted.
People & committees
Rep. Schneider, Bradley Scott [D-IL-10] · D–IL
Legislative record
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Referred to the House Committee on Ways and Means.
Introduced in House
Introduced in House
Primary sources
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Source last updated: Dec 5, 2025. Consult Congress.gov for the current record.
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