,i  #aac? ,,congress  #b;d ,session  ,h4
 ,r4 #daic  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,m>* #aa1 #bjad ,mr4  
,issa 7= himself1 ,mr4 ,cumm+s1 ,mr4    
,woodall1 ,mr4 ,lyn*1 ,mr4 ,connolly1 & 
,mr4 ,f>5?old7 introduc$ ! foll[+ bill2 
:i* 0 ref]r$ to ! ,committee on         
,ov]sight & ,gov]nm5t ,re=m  ,a ,,bill  
,to am5d title #e1 ,unit$ ,/ates ,code1 
to *ange ! default inve/m5t fund "u !   
,?rift ,sav+s ,plan1 & = o!r purposes4  
#a4 ,%ort title ,?is ,act may be cit$ z 
! ,sm>t ,sav+s ,act4  #b4 ,?rift ,sav+s 
,plan default inve/m5t fund  7a7 ,9     
g5]al ,section #hdch7;c77#b7 ( title #e1
 ,unit$ ,/ates ,code1 is am5d$ to read z
 foll[s3  7#b7  7,a7 ,consi/5t ) !      
requirem5ts ( subp>agraph 7,b71 if an   
election has n be5 made ) respect to any
 sums available = inve/m5t 9 ! ,?rift   
,sav+s ,fund1 ! ,executive ,director    
%all inve/ su* sums 9 an age-appropriate
 t>get date asset allocation inve/m5t   
fund1 z det]m9$ by ! ,executive         
,director4 ,su* inve/m5t fund %all      

consi/ ( any ( ! funds describ$ 9       
subsection 7b74  7,b7 ,if an election   
has n be5 made by an eligible memb] "u  
section #hddj;e ) respect to any sums   
available = inve/m5t 9 su* memb]'s      
,?rift ,sav+s ,fund acc\nt1 ! ,executive
 ,director %all inve/ su* sums 9 !      
,gov]nm5t ,securities ,inve/m5t ,fund4  
4  7b7 ,ackn[l$gm5t ( risk ,section     
#hdci7;d7 ( title #e1 ,unit$ ,/ates     
,code1 is am5d$--  7#a7 by ins]t+ 7#a7  
be=e ,ea* employee2 &  7#b7 by add+ at !
 end ! foll[+ new p>agraph3  7#b7 ,prior
 to enrollm5t 9 ! ,?rift ,sav+s ,plan1  
an individual cov]$ by section          
#hdch7;c77#b77;,a7 %all sign ! risk     
ackn[l$gm5t describ$ "u p>agraph 7#a74  
4  7c7 ,te*nical & con=m+ am5dm5t       
,section #hdgb7;g77#b7 ( title #e1      
,unit$ ,/ates ,code1 is am5d$ by /rik+  
requir$ by section #hdch ( ?is title to 
be inve/$ 9 securities ( ! ,gov]nm5t &  
ins]t+ "u section #hdch7;c77#b77;,b74   
7d7 ,guidance ,n lat] ?an #i mon?s aft] 
! date ( enactm5t ( ?is ,act1 !         

,executive ,director 7z t t]m is def9$  
"u section #hdja7ac7 ( title #e1 ,unit$ 
,/ates ,code7 %all develop & issue      
guidance implem5t+ ! requirem5ts ( ?is  
,act4  7e7 ,effective date & application
 ,! am5dm5ts made by subsections 7a7 &  
7b7 %all--  7#a7 take effect on ! date t
 ! ,executive ,director issues guidance 
"u subsection 7d72 &  7#b7 apply to     
individuals enroll$ 9 ! ,?rift ,sav+s   
,plan on or aft] su* date4