Unclaimed Retirement Rescue Plan

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 5325 Introduced in House (IH)] <DOC> 119th CONGRESS 1st Session H. R. 5325 To direct the Secretary of Labor to promulgate a regulation allowing administrators of certain pension plans to voluntarily transfer unclaimed retirement distributions to State unclaimed property programs. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES September 11, 2025 Mr. Magaziner (for himself and Mr. Estes) introduced the following bill; which was referred to the Committee on Education and Workforce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned _______________________________________________________________________ A BILL To direct the Secretary of Labor to promulgate a regulation allowing administrators of certain pension plans to voluntarily transfer unclaimed retirement distributions to State unclaimed property programs. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Unclaimed Retirement Rescue Plan''. SEC. 2. UNCLAIMED RETIREMENT DISTRIBUTIONS REGULATION. (a) In General.--Not later than 180 days after the date of enactment of this Act, the Secretary of Labor shall promulgate a regulation described in subsection (b). (b) Regulation Described.--The regulation described in this subsection shall-- (1) comply with the requirements of this section; and (2) allow administrators of pension plans and other responsible fiduciaries to transfer unclaimed retirement distributions to State unclaimed property programs through the States' Unclaimed Retirement Clearing House that manages the voluntary transfer of funds nationally across State unclaimed property program