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Proposal to Reunite Workers With Retirement Cash Gets Panel OK

Nov. 10, 2021, 8:38 PM

A House panel Wednesday advanced a bipartisan measure that would set up the nation’s first online database to connect retirement cash with those who may not even know they’re owed the money.

The Retirement Improvement and Savings Enhancement, or RISE, Act (H.R. 5891) would create a searchable lost-and-found retirement plan database participants could use to locate and contact plan administrators when they’ve lost track of retirement benefits they’re owed.

The House Education and Labor Committee unanimously approved the act, a crucial step in crafting a sweeping retirement access bill now on the House floor.

More than 25 million ...