Sponsors (2)
The bill aims to expand access to employer-sponsored retirement plans and increase transparency in Department of Labor collaborations, but it raises risks of administrative costs, privacy and delay harms for claimants, added compliance burdens on employers, and potential fiscal trade‑offs.
Middle-class employees and their families may gain greater access to and stronger retirement outcomes because the bill promotes employer-sponsored pension and retirement plans.
Small businesses and employers receive federal encouragement and clearer policy signals to offer retirement benefits, which can improve worker recruitment and retention.
Congress and the public gain more oversight because the Department must document and annually report agreements and assistance, improving transparency and accountability of Labor Department actions.
Employees and plan beneficiaries could face delays in time-sensitive disclosures or enforcement benefits because the Department must finalize agreements and notify employers before providing assistance.
The Labor Department will incur new administrative workload and costs to draft agreements, notify multiple parties, and produce detailed annual reports.
Reporting requirements that include copies of agreements and identifying parties risk revealing claimant identities or sensitive case details, potentially harming privacy.
Based on analysis of 3 sections of legislative text.
Requires written agreements and employer/fiduciary notice before the Labor Department gives "adverse assistance" to attorneys, plus an initial and annual congressional report and a policy promoting voluntary plan sponsorship.
Requires the Labor Secretary to reach a written agreement with any individual before giving that person "adverse assistance" and to give a copy of that agreement to any employer, plan sponsor, or fiduciary who might be harmed by the assistance. "Adverse assistance" is help or advice given to an attorney for possible use in a civil lawsuit under ERISA. The Secretary must report to Congress within 60 days after enactment and then annually, listing all such agreements and describing the assistance provided (with limited redactions). Declares a congressional policy that protecting workers' retirement security depends on promoting voluntary establishment and maintenance of employer-sponsored pension plans. Existing adverse-assistance arrangements must be brought into compliance within 60 days or will be treated as compliant if the required steps are completed in that period.
Introduced April 17, 2025 by Michael A. Rulli · Last progress April 17, 2025