,,ii  #aac? ,,congress  #b;d ,session   
,s4 #baag  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,m>* #ab1 #bjad ,ms4   
,w>r5 7= h]self & ,mr4 ,portman7        
introduc$ ! foll[+ bill2 :i* 0 read     
twice & ref]r$ to ! ,committee on       
,homel& ,security & ,gov]nm5tal ,affairs
  ,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 ,except z provid$ 9 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 portfolio ( ! funds describ$ 
9 subsection 7b71 z det]m9$ by !        
,executive ,director4  7,b7 ,if an      

election has n be5 made by a memb] 7z   
def9$ 9 section #baa ( title #cg7       
contribut+ to ! ,?rift ,sav+s ,fund "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$--  7#a7 by ins]t+ 7#a7  
be=e ,ea* employee2 &  7#b7 by add+ at !
 end ! foll[+3  7#b7 ,be=e ! date on :i*
 an individual cov]$ "u section         
#hdch7;c77#b77;,a7 beg9s contribut+ to !
 ,?rift ,sav+s ,fund1 ! individual %all 
sign a 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+ !    
am5dm5ts made by ?is section4  7e7      
,effective date & application  ,!       
am5dm5ts made by ?is section %all--     
7#a7 take effect on ! date on :i* !     
,executive ,director issues guidance "u 
subsection 7d72 &  7#b7 apply to        
individuals contribut+ to ! ,?rift      
,sav+s ,fund on or aft] su* date4