I 
114TH CONGRESS 
2D SESSION 
H. R. 6396 
To amend the Internal Revenue Code of 1986 to modify the qualification 
requirements with respect to certain multiple employer plans with pooled 
plan providers, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
NOVEMBER 29, 2016 
Mr. BUCHANAN (for himself, Mr. RENACCI, Mr. KIND, and Mr. NEAL) intro-
duced the following bill; which was referred to the Committee on Edu-
cation and the 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 jurisdic-
tion of the committee concerned 
A BILL 
To amend the Internal Revenue Code of 1986 to modify 
the qualification requirements with respect to certain 
multiple employer plans with pooled plan providers, and 
for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Retirement Security 
for American Workers Act’’. 
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SEC. 2. MULTIPLE EMPLOYER PLANS WITH POOLED PLAN 
PROVIDERS. 
(a) QUALIFICATION REQUIREMENTS.—Section 413 
of the Internal Revenue Code of 1986 is amended by add-
ing at the end the following new subsection: 
‘‘(e) APPLICATION
OF QUALIFICATION REQUIRE-
MENTS FOR CERTAIN MULTIPLE EMPLOYER PLANS WITH 
POOLED PLAN PROVIDERS.— 
‘‘(1) IN GENERAL.—Except as provided in para-
graph (2), if a defined contribution plan to which 
subsection (c) applies— 
‘‘(A) is sponsored by employers that both 
have a common interest other than having 
adopted the plan and control the plan, or 
‘‘(B) in the case of a plan not described in 
subparagraph (A), has a pooled plan provider, 
then the plan shall not be treated as failing to meet 
the requirements under this title applicable to a plan 
described in section 401(a) or to a plan that consists 
of individual retirement accounts described in sec-
tion 408 of such Code (including by reason of sub-
section (c) thereof), whichever is applicable, merely 
because one or more employers of employees covered 
by the plan fail to take such actions as are required 
of such employers for the plan to meet such require-
ments. 
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‘‘(2) LIMITATIONS.— 
‘‘(A) IN
GENERAL.—Paragraph (1) shall 
not apply to any plan unless the terms of the 
plan provide that in cases of employers failing 
to take the actions described in paragraph 
(1)— 
‘‘(i) the assets of the plan attributable 
to employees of the employer will be trans-
ferred to a plan maintained only by the 
employer (or its successor), to an eligible 
retirement plan as defined in section 
402(c)(8)(B) for each individual whose ac-
count is transferred, or to any other ar-
rangement that the Secretary determines is 
appropriate, unless the Secretary deter-
mines it is in the best interests of such em-
ployees to retain the assets in the plan, 
and 
‘‘(ii) the employer described in clause 
(i) (and not the plan with respect to which 
the failure occurred or any other partici-
pating employer in such plan) shall, except 
to the extent provided by the Secretary, be 
liable for any liabilities with respect to 
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such plan attributable to employees of the 
employer. 
‘‘(B) FAILURES
BY
POOLED
PLAN
PRO-
VIDERS.—If the pooled plan provider of a plan 
described in paragraph (1)(B) does not perform 
substantially all of the administrative duties 
which are required of the provider under para-
graph (3)(A)(i) for any plan year, the Sec-
retary, in the Secretary’s own discretion, may 
provide that the determination as to whether 
the plan meets the requirements under this title 
applicable to a plan described in section 401(a) 
or to a plan that consists of individual retire-
ment accounts described in section 408 of such 
Code (including by reason of subsection (c) 
thereof), whichever is applicable, shall be made 
in the same manner as would be made without 
regard to paragraph (1). 
‘‘(3) POOLED PLAN PROVIDER.—For purposes 
of this subsection— 
‘‘(A) IN GENERAL.—The term ‘pooled plan 
provider’ means, with respect to any plan, a 
person who— 
‘‘(i) is designated by the terms of the 
plan as a named fiduciary (as defined in 
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section 402(a)(2) of the Employee Retire-
ment Income Security Act of 1974), as the 
plan administrator, and as the person re-
sponsible to perform all administrative du-
ties (including conducting proper testing 
with respect to the plan and employees of 
each participating employer) which are 
reasonably necessary to ensure that— 
‘‘(I) the plan meets the require-
ments of the Employee Retirement In-
come Security Act of 1974 and any 
requirement applicable under this title 
to a plan described in section 401(a) 
or to a plan that consists of individual 
retirement accounts described in sec-
tion 408 of such Code (including by 
reason of subsection (c) thereof), 
whichever is applicable, and 
‘‘(II) each participating employer 
takes such actions as the Secretary or 
such person determines necessary for 
the plan to meet the requirements de-
scribed in subclause (I), including pro-
viding to such person any disclosures 
or other information which the Sec-
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retary may require or which such per-
son otherwise determines is necessary 
to administer the plan or to allow the 
plan to meet such requirements, 
‘‘(ii) registers as a pooled plan pro-
vider with the Secretary, and provides such 
other information to the Secretary as the 
Secretary may require, before beginning 
operations as a pooled plan provider, 
‘‘(iii) acknowledges in writing that 
such person is a named fiduciary (within 
the meaning of section 402(a)(2) of the 
Employee Retirement Income Security Act 
of 1974), and the plan administrator, with 
respect to the plan, and 
‘‘(iv) is responsible for ensuring that 
all persons who handle assets of, or who 
are fiduciaries of, the plan are bonded in 
accordance with section 412 of the Em-
ployee Retirement Income Security Act of 
1974. 
‘‘(B) AUDITS, EXAMINATIONS AND INVES-
TIGATIONS.—The Secretary may perform au-
dits, examinations, and investigations of pooled 
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plan providers as may be necessary to enforce 
and carry out the purposes of this subsection. 
‘‘(4) GUIDANCE.— 
‘‘(A) IN
GENERAL.—The Secretary shall 
issue such guidance as the Secretary determines 
appropriate to carry out this subsection, includ-
ing guidance— 
‘‘(i) to identify the administrative du-
ties and other actions required to be per-
formed by a pooled plan provider under 
this subsection, 
‘‘(ii) which describes the procedures to 
be taken to terminate a plan which fails to 
meet the requirements to be a plan de-
scribed in paragraph (1), including the 
proper treatment of, and actions needed to 
be taken by, any participating employer of 
the plan and the assets and liabilities of 
the plan with respect to employees of that 
employer, and 
‘‘(iii) identifying appropriate cases to 
which the rules of paragraph (2)(A) will 
apply to employers failing to take the ac-
tions described in paragraph (1). 
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The Secretary shall take into account under 
subparagraph (C) whether the failure of an em-
ployer or pooled plan provider to provide any 
disclosures or other information, or to take any 
other action, necessary to administer a plan or 
to allow a plan to meet requirements applicable 
to the plan under section 401(a) has continued 
over a period of time that clearly demonstrates 
a lack of commitment to compliance. 
‘‘(B) PROSPECTIVE
APPLICATION.—Any 
guidance issued by the Secretary under this 
paragraph shall not apply to any action or fail-
ure occurring before the issuance of such guid-
ance. 
‘‘(5) MODEL
PLAN.—The Secretary shall, in 
consultation with the Secretary of Labor when ap-
propriate, publish model plan language which meets 
the requirements of this subsection and of para-
graphs (43) and (44) of section 3 of the Employee 
Retirement Income Security Act of 1974 and which 
may be adopted to be treated as a pooled employer 
plan.’’. 
(b) NO COMMON INTEREST REQUIRED FOR POOLED 
EMPLOYER PLANS.—Section 3(2) of the Employee Retire-
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ment Income Security Act of 1974 (29 U.S.C. 1002(2)) 
is amended by adding at the end the following: 
‘‘(C) A pooled employer plan shall be treat-
ed as— 
‘‘(i) a single employee pension benefit 
plan or single pension plan; and 
‘‘(ii) a plan to which section 210(a) 
applies.’’. 
(c) POOLED EMPLOYER PLAN AND PROVIDER DE-
FINED.— 
(1) IN GENERAL.—Section 3 of the Employee 
Retirement Income Security Act of 1974 (29 U.S.C. 
1002) is amended by adding at the end the fol-
lowing: 
‘‘(43) POOLED EMPLOYER PLAN.— 
‘‘(A) IN GENERAL.—The term ‘pooled em-
ployer plan’ means a plan— 
‘‘(i) which is an individual account 
plan established or maintained for the pur-
pose of providing benefits to the employees 
of two or more employers; 
‘‘(ii) which is a plan described in sec-
tion 401(a) of the Internal Revenue Code 
of 1986 which includes a trust exempt 
from tax under section 501(a) of such 
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Code or a plan that consists of individual 
retirement accounts described in section 
408 of such Code (including by reason of 
subsection (c) thereof); and 
‘‘(iii) the terms of which meet the re-
quirements of subparagraph (B). 
Such term shall not include a plan with respect 
to which the participating employers both share 
a common interest other than participation in 
the plan and control the plan. 
‘‘(B) REQUIREMENTS FOR PLAN TERMS.— 
The requirements of this subparagraph are met 
with respect to any plan if the terms of the 
plan— 
‘‘(i) designate a pooled plan provider 
and provide that the pooled plan provider 
is a named fiduciary of the plan; 
‘‘(ii) designate one or more trustees 
meeting 
the 
requirements 
of 
section 
408(a)(2) of the Internal Revenue Code of 
1986 (other than a participating employer) 
to be responsible for collecting contribu-
tions to, and holding the assets of, the 
plan and require such trustees to imple-
ment written contribution collection proce-
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dures that are reasonable, diligent, and 
systematic; 
‘‘(iii) provide that each participating 
employer retains fiduciary responsibility 
for— 
‘‘(I) the selection and monitoring 
in accordance with section 404(a) of 
the person designated as the pooled 
plan provider and any other person 
who, in addition to the pooled plan 
provider, is designated as a named fi-
duciary of the plan; and 
‘‘(II) to the extent not otherwise 
delegated to another fiduciary by the 
pooled plan provider and subject to 
the provisions of section 404(c), the 
investment and management of that 
portion of the plan’s assets attrib-
utable to the employees of that par-
ticipating employer; 
‘‘(iv) provide that a participating em-
ployer, or a participant or beneficiary, is 
not subject to unreasonable restrictions, 
fees, or penalties with regard to ceasing 
participation, receipt of distributions, or 
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otherwise transferring assets of the plan in 
accordance with section 208; 
‘‘(v) require— 
‘‘(I) the pooled plan provider to 
provide to participating employers any 
disclosures or other information which 
the Secretary may require, including 
any disclosures or other information 
to facilitate the selection or any moni-
toring of the pooled plan provider by 
participating employers; and 
‘‘(II) each participating employer 
to take such actions as the Secretary 
or the pooled plan provider determines 
necessary to administer the plan or 
for the plan to meet the requirements 
of this Act or any requirement appli-
cable under the Internal Revenue 
Code of 1986 to a plan described in 
section 401(a) of such Code or to a 
plan that consists of individual retire-
ment accounts described in section 
408 of such Code (including by reason 
of subsection (c) thereof), whichever is 
applicable, including providing any 
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disclosures or other information which 
the Secretary may require or which 
the pooled plan provider otherwise de-
termines is necessary to administer 
the plan or to allow the plan to meet 
such requirements; and 
‘‘(vi) provide that any disclosure or 
other information required to be provided 
under clause (v) may be provided in elec-
tronic form and will be designed to ensure 
only reasonable costs are imposed on 
pooled plan providers and participating 
employers. 
‘‘(C) EXCEPTIONS.—The term ‘pooled em-
ployer plan’ does not include— 
‘‘(i) a multiemployer plan; or 
‘‘(ii) a plan established before Janu-
ary 1, 2016, unless the plan administrator 
elects that the plan will be treated as a 
pooled employer plan and the plan meets 
the requirements of this title applicable to 
a pooled employer plan established on or 
after such date. 
‘‘(44) POOLED PLAN PROVIDER.— 
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‘‘(A) IN GENERAL.—The term ‘pooled plan 
provider’ means a person who— 
‘‘(i) is designated by the terms of a 
pooled employer plan as the plan adminis-
trator and as the person responsible for 
the performance of all administrative du-
ties (including conducting proper testing 
with respect to the plan and employees of 
each participating employer) which are 
reasonably necessary to ensure that— 
‘‘(I) the plan meets the require-
ments of this Act and any require-
ment applicable under the Internal 
Revenue Code of 1986 to a plan de-
scribed in section 401(a) of such Code 
or to a plan that consists of individual 
retirement accounts described in sec-
tion 408 of such Code (including by 
reason of subsection (c) thereof), 
whichever is applicable; and 
‘‘(II) each participating employer 
takes such actions as the Secretary or 
pooled plan provider determines nec-
essary for the plan to meet the re-
quirements described in subclause (I), 
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including providing the disclosures 
and information described in para-
graph (43)(B)(v)(II); 
‘‘(ii) registers as a pooled plan pro-
vider with the Secretary, and provides to 
the Secretary such other information as 
the Secretary may require, before begin-
ning operations as a pooled plan provider; 
‘‘(iii) acknowledges in writing that 
such person is a named fiduciary, and the 
plan administrator, with respect to the 
pooled employer plan; and 
‘‘(iv) is responsible for ensuring that 
all persons who handle assets of, or who 
are fiduciaries of, the pooled employer plan 
are bonded in accordance with section 412. 
‘‘(B) AUDITS, EXAMINATIONS AND INVES-
TIGATIONS.—The Secretary may perform au-
dits, examinations, and investigations of pooled 
plan providers as may be necessary to enforce 
and carry out the purposes of this paragraph 
and paragraph (43). 
‘‘(C) GUIDANCE.—The Secretary shall 
issue such guidance as the Secretary determines 
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appropriate to carry out this paragraph and 
paragraph (43), including guidance— 
‘‘(i) to identify the administrative du-
ties and other actions required to be per-
formed by a pooled plan provider under ei-
ther such paragraph; and 
‘‘(ii) which requires in appropriate 
cases that if a participating employer fails 
to take the actions required under sub-
paragraph (A)(i)(II)— 
‘‘(I) the assets of the plan attrib-
utable to employees of the partici-
pating employer are transferred to a 
plan maintained only by the partici-
pating employer (or its successor), to 
an eligible retirement plan as defined 
in section 402(c)(8)(B) of the Internal 
Revenue Code of 1986 for each indi-
vidual whose account is transferred, 
or to any other arrangement that the 
Secretary determines is appropriate in 
such guidance; and 
‘‘(II) the participating employer 
described in subclause (I) (and not 
the plan with respect to which the 
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failure occurred or any other partici-
pating employer in such plan) shall, 
except to the extent provided in such 
guidance, be liable for any liabilities 
with respect to such plan attributable 
to employees of the participating em-
ployer. 
The Secretary shall take into account under 
clause (ii) whether the failure of an employer or 
pooled plan provider to provide any disclosures 
or other information, or to take any other ac-
tion, necessary to administer a plan or to allow 
a plan to meet requirements described in sub-
paragraph (A)(i)(II) has continued over a pe-
riod of time that clearly demonstrates a lack of 
commitment to compliance. The Secretary may 
waive the requirements of clause (ii)(I) in ap-
propriate circumstances if the Secretary deter-
mines it is in the best interests of the employ-
ees of the participating employer described in 
such clause to retain the assets in the plan with 
respect to which the employer’s failure oc-
curred. 
‘‘(D) AGGREGATION RULES.—For purposes 
of this paragraph— 
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‘‘(i) IN
GENERAL.—In determining 
whether a person meets the requirements 
of this paragraph to be a pooled plan pro-
vider with respect to any plan, all persons 
who are members of the same controlled 
group and who perform services for the 
plan shall be treated as one person. 
‘‘(ii) MEMBERS OF COMMON GROUP.— 
Persons shall be treated as members of the 
same controlled group if such persons are 
treated as a single employer under sub-
section (c) or (d) of section 210.’’. 
(2) EMPLOYEE TREATED AS EXERCISING CON-
TROL
OVER
ASSETS.—Section 404(c) of the Em-
ployee Retirement Income Security Act of 1974 (29 
U.S.C. 1104(c)) is amended by adding at the end 
the following new paragraph: 
‘‘(6) In the case of a pooled employer plan that 
consists of individual retirement accounts described 
in section 408 of the Internal Revenue Code of 1986 
(including by reason of subsection (c) thereof) and 
that includes an automatic contribution arrangement 
meeting the requirements of section 514(e) (deter-
mined without regard to paragraph (2)(C) thereof), 
a participant or beneficiary shall, for purposes of 
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paragraph (1), be treated as exercising control over 
the assets in the account upon the earliest of— 
‘‘(A) an affirmative election among invest-
ment options with respect to the initial invest-
ment of any contribution, 
‘‘(B) a rollover to any other individual re-
tirement account, or 
‘‘(C) one year after the individual retire-
ment account is established.’’. 
(3) BONDING REQUIREMENTS FOR POOLED EM-
PLOYER PLANS.—The last sentence of section 412(a) 
of the Employee Retirement Income Security Act of 
1974 (29 U.S.C. 1112(a)) is amended by inserting 
‘‘or in the case of a pooled employer plan’’ after 
‘‘section 407(d)(1))’’. 
(4) CONFORMING
AND
TECHNICAL
AMEND-
MENTS.—Section 3 of the Employee Retirement In-
come Security Act of 1974 (29 U.S.C. 1002) is 
amended— 
(A) in paragraph (16)(B)— 
(i) by striking ‘‘or’’ at the end of 
clause (ii), and 
(ii) by striking the period at the end 
and inserting ‘‘, or (iv) in the case of a 
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pooled employer plan, the pooled plan pro-
vider.’’; and 
(B) by striking the second paragraph (41). 
(d) EFFECTIVE DATE.— 
(1) IN GENERAL.—The amendments made by 
this section shall apply to years beginning after De-
cember 31, 2016. 
(2) RULE OF CONSTRUCTION.—Nothing in the 
amendment made by subsection (c) shall be con-
strued as limiting the authority of the Secretary of 
the Treasury or the Secretary’s delegate (determined 
without regard to such amendment) to provide for 
the proper treatment of a failure to meet any re-
quirement applicable under the Internal Revenue 
Code of 1986 with respect to one employer (and its 
employees) in a multiple employer plan. 
SEC. 3. POOLED EMPLOYER AND MULTIPLE EMPLOYER 
PLAN REPORTING. 
(a) ADDITIONAL INFORMATION.—Section 103 of the 
Employee Retirement Income Security Act of 1974 (29 
U.S.C. 1023) is amended— 
(1) in subsection (a)(1)(B), by striking ‘‘appli-
cable subsections (d), (e), and (f)’’ and inserting 
‘‘applicable subsections (d), (e), (f), and (g)’’; and 
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(2) by amending subsection (g) to read as fol-
lows: 
‘‘(g) ADDITIONAL INFORMATION WITH RESPECT TO 
POOLED
EMPLOYER
AND
MULTIPLE
EMPLOYER 
PLANS.—An annual report under this section for a plan 
year shall include— 
‘‘(1) with respect to any plan to which section 
210(a) applies (including a pooled employer plan), a 
list of participating employers and a good faith esti-
mate of the percentage of total contributions made 
by such participating employers during the plan 
year; and 
‘‘(2) with respect to a pooled employer plan, the 
identifying information for the person designated 
under the terms of the plan as the pooled plan pro-
vider.’’. 
(b) SIMPLIFIED ANNUAL REPORTS.—Section 104(a) 
of the Employee Retirement Income Security Act of 1974 
(29 U.S.C. 1024(a)) is amended by striking paragraph 
(2)(A) and inserting the following: 
‘‘(2)(A) With respect to annual reports required 
to be filed with the Secretary under this part, the 
Secretary may by regulation prescribe simplified an-
nual reports for any pension plan that— 
‘‘(i) covers fewer than 100 participants; or 
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‘‘(ii) is a plan described in section 210(a) 
that covers fewer than 1,000 participants, but 
only if no single participating employer has 
more than 100 participants covered by the 
plan.’’. 
(c) EFFECTIVE DATE.—The amendments made by 
this section shall apply to annual reports for plan years 
beginning after December 31, 2016. 
Æ 
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