‘‘(4) PART-TIME EMPLOYEES.—For purposes of de-
termining whether an employee who is eligible to partici-
pate in a qualified cash or deferred arrangement or a sal-
ary reduction agreement under a plan solely by reason of 
section 202(c)(1)(B) has a nonforfeitable right to em-
ployer contributions— 
‘‘(A) except as provided in subparagraph (B), 
each 12-month period for which the employee has at 
least 500 hours of service shall be treated as a year 
of service; and 
‘‘(B) 12-month periods occurring before the 24- 
month period described in section 202(c)(1)(B) shall 
not be treated as years of service. 
For purposes of this paragraph, 12-month periods shall 
be determined in the same manner as under the last sen-
tence of section 202(a)(3)(A), except that 12-month peri-
ods beginning before January 1, 2019, shall not be taken 
into account.’’. 
(c) PENALTY.—Section 502 of the Employee Retire-
ment Income Security Act of 1974 (29 U.S.C. 1132) is 
amended by adding at the end the following new sub-
section: 
‘‘(n) REQUIREMENTS RELATING TO PART-TIME EM-
PLOYEES.—In the case of a plan that fails to permit par-
ticipation as required by section 202(c), the Secretary may 
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assess a civil penalty against the plan sponsor in an 
amount equal to $10,000 per year per employee to whom 
such failure relates. The Secretary may, in the Secretary’s 
sole discretion, waive or reduce the penalty under this sub-
section if the Secretary determines that the plan sponsor 
acted reasonably and in good faith.’’. 
SEC. 5. EFFECTIVE DATES. 
(a) INCREASING SPOUSAL PROTECTION UNDER DE-
FINED CONTRIBUTION PLANS.—Except as provided in 
subsections (c) and (d), the amendments made by section 
2 shall apply to distributions and rollover contributions 
made in plan years beginning after the date that is 6 
months after the date of the enactment of this Act. 
(b) ENSURING COVERAGE FOR LONG-TERM PART- 
TIME WORKERS.—Except as provided in subsections (c) 
and (d), the amendments made by section 3 shall apply 
to plan years beginning after December 31, 2019. 
(c) COLLECTIVE BARGAINING AGREEMENTS.—In the 
case of a plan maintained pursuant to one or more collec-
tive bargaining agreements between employee representa-
tives and one or more employers ratified before the date 
of the enactment of this Act, the amendments made by 
sections 2 and 3 shall not apply to distributions or rollover 
contributions on behalf of employees covered by any such 
agreement for plan years beginning before the earlier of— 
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(1) the later of— 
(A) the date on which the last of such col-
lective bargaining agreements terminates (de-
termined without regard to any extension there-
of on or after such date of the enactment); or 
(B) the day after the date specified in sub-
section (a) or (b), whichever is applicable; or 
(2) the date that is 3 years after the applicable 
day described in paragraph (1)(B). 
(d) PROVISIONS
RELATING
TO
PLAN
AMEND-
MENTS.— 
(1) IN GENERAL.—If this paragraph applies to 
any plan or contract amendment, such plan or con-
tract shall be treated as being operated in accord-
ance with the terms of the plan during the period 
described in paragraph (2)(C). 
(2) AMENDMENTS TO WHICH PARAGRAPH (1) 
APPLIES.— 
(A) IN
GENERAL.—Paragraph (1) shall 
apply to any amendment to any plan or annuity 
contract which is made— 
(i) pursuant to the amendments made 
by section 2 or 3 or pursuant to any regu-
lation issued under either such section; and 
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(ii) on or before the last day of the 
first plan year beginning on or after the 
date that is 3 years after the applicable 
day described in subsection (c)(1)(B). 
In the case of a governmental plan (as defined 
in section 414(d) of the Internal Revenue Code 
of 1986), this subparagraph shall be applied by 
substituting ‘‘5 years’’ for ‘‘3 years’’ in clause 
(ii). 
(B) CONDITIONS.—Subparagraph (A) shall 
not apply to any amendment unless— 
(i) the plan or contract is operated as 
if such plan or contract amendment were 
in effect for the period described in sub-
paragraph (C); and 
(ii) such plan or contract amendment 
applies retroactively for such period. 
(C) PERIOD DESCRIBED.—The period de-
scribed in this subparagraph is the period— 
(i) beginning on the effective date 
specified by the plan; and 
(ii) ending on the date described in 
subparagraph (A)(ii) (or, if earlier, the 
date the plan or contract amendment is 
adopted). 
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SEC. 6. ACCESS TO INDEPENDENT CONSUMER INFORMA-
TION AND UNDERSTANDING. 
(a) DEFINITIONS.—As used in this section— 
(1) the term ‘‘consumer’’ means any person 
who purchases or acquires any goods, products, serv-
ices, or credit related to the retirement or later life 
economic security of the consumer; and 
(2) the term ‘‘financial product or service pro-
vider’’ means any person who engages in the busi-
ness of providing any retirement financial product or 
service to any consumer. 
(b) REQUIRED LINK TO CONSUMER AWARENESS IN-
FORMATION.—In any offer for the sale, exchange, or other 
transfer of a retirement financial product or service to a 
consumer carried out by a financial product or service pro-
vider, such provider shall provide, in a manner consistent 
with subsection (c), an easily accessible link to the website 
of the Bureau of Consumer Financial Protection (CFPB) 
at which the consumer may access information, literature, 
guides, programs, tools, strategies, or any other resource 
produced by the CFPB or other Federal agency relating 
to retirement planning or later life economic security. 
(c) DETERMINATION.—In order to ensure that the re-
quirement under subsection (b) is effectively carried out, 
the Financial Literacy and Education Commission 
(FLEC) shall determine and publish on its website the 
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