H.R. 7439: Retirement Savings Lost and Found Act

116th Congress · introduced 2020-07-01 · Labor and Employment · Latest: Referred to the Subcommittee on Social Security.

federal

Follow this bill, step by step

Where it came from: introduced 2020-07-01 · official record
Who proposed it: Rep. Bonamici, Suzanne [D-OR-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 Social Security. 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.

What does this mean?

Official title

Retirement Savings Lost and Found Act

Plain summary

Retirement Savings Lost and Found Act This bill requires the Department of the Treasury and the Social Security Administration (SSA) to create an online Retirement Savings Lost and Found (RSLF) to assist individuals in locating certain employer-sponsored retirement accounts. The RSLF must provide plan participants or beneficiaries only with the ability to view contact information for the administrator of a plan that is sufficient to locate the plan. The bill sets forth additional reporting and notification requirements for retirement plans. Treasury and the SSA must take precautions to (1) safeguard the privacy and security of participants' plan information, and (2) permit plan participants to opt out of inclusion in the RSLF. The bill also revises provisions that permit mandatory distributions of the balances of small retirement accounts using a rollover into an Individual Retirement Account (IRA). The bill modifies the investment options available for the distributions and increases the maximum account balance that may be subject to such a distribution. A plan must transfer unclaimed mandatory distributions that are $1,000 or less to the RSLF or to an IRA established by Treasury. The RSLF must invest funds received in Treasury securities and distribute the balance upon receiving an application from a plan participant or beneficiary.

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.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Retirement Savings Lost and Found Act

Source: Congressional Research Service summary (Introduced in House)

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The strongest published arguments

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Bonamici, Suzanne [D-OR-1] · 1 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Jim Banks (R-IN)

Sponsor's campaign money: Rep. Bonamici, Suzanne [D-OR-1] reported raising $1.0 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

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 (2)

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-116hr7439.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/116/hr>

Record fed-us-cong116-hr7439 · catalog fed-us-congress-bills-cong116 · updated 2026-11-15 by psicol fed-bills-cong116