H.R. 4997: GROW Act
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H.R. 4997: GROW Act
115th Congress · introduced 2018-02-13 · Labor and Employment · Latest: Referred to the Subcommittee on Health, Employment, Labor, and Pensions.
federal
Follow this bill, step by step
- Where it came from: introduced 2018-02-13 · official record
- Who proposed it: Rep. Roe, David P. [R-TN-1] · what a sponsor is
- What happened next: no floor votes in our records yet. Why?
- Where it stands now: Referred to the Subcommittee on Health, Employment, Labor, and Pensions. Not final yet: this can still change. We check for updates every day.
- If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.
Official title
GROW Act
Plain summary
Giving Retirement Options to Workers Act of 2018 or the GROW Act This bill amends the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code to authorize a new composite multiemployer pension plan, which combines features of defined benefit and defined contribution pension plans. Under a composite plan, employer contributions are set at a fixed rate. Benefits are based on a formula, are paid to participants in the form of life annuities (except for benefits that may be immediately distributed from certain plans with a low value), and may be reduced based on the plan's funded status. The plan sponsor must take corrective actions through a realignment program whenever the plan's projected funded ratio is below 120% for the plan year. The realignment program may include measures such as benefit reductions or proposed contribution increases. A composite plan is not covered by the Pension Benefit Guaranty Corporation (PBGC) or required to pay PBGC premiums. The plan sponsors are also not subject to liability for withdrawing from the plan.
Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.
What a vote does
A “Yea” vote
If it passes both chambers and is signed, it becomes law.
A “Nay” vote
If it is not passed, current law stays as it is.
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What does this mean? (plain words)
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Alternatives
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How did my representative vote? · This bill's floor votes
Officials and money
Sponsor: Rep. Roe, David P. [R-TN-1] · 5 cosponsors
Cost estimate: No cost estimate published yet.
Cosponsors on this site
Donald Norcross (D-NJ), Frank Pallone, Jr. (D-NJ), Henry Cuellar (D-TX)
No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.
Words on this page, explained (3)
- Authorization
- A law that creates or continues a government program and says what it may do, often with a suggested spending ceiling. An authorization alone does not provide money; a separate appropriation does.
- Bill
- A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
- Securities
- Financial investments that can be bought and sold, such as stocks and bonds.
Plain meanings written from linked sources. All words.
Sources
- Congressional Research Service summary (Introduced in House)
- Congress.gov
- Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-115hr4997.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/115/hr>
Record fed-us-cong115-hr4997 · catalog fed-us-congress-bills-cong115 · updated 2026-11-15 by psicol fed-bills-cong115