,,ii  #aafth ,,congress  #b;d ,session  
,s4 #ejfd  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,december #ah1 
#bjbj ,mr4 ,grassley 7for himself1 ,ms4 
,hassan1 and ,mr4 ,lankford7 introduced 
the following bill2 which was read twice
 and referred to the ,committee on      
,finance  ,a ,,bill  ,to amend the      
,internal ,revenue ,code of #aihf to    
increase retirement savings1 to improve 
retirement plan administration1 and for 
other purposes4  #a4 ,short title ,this 
,act may be cited as the ,improving     
,access to ,retirement ,savings ,act4   
#b4 ,multiple employer #djc7;b7 plans   
7a7 ,in general ,section #djc7;b7 of the
 ,internal ,revenue ,code of #aihf is   
amended by adding at the end the        
following new paragraph3  7#ae7         
,multiple employer plans  7,a7 ,in      
general ,except in the case of a church 
plan1 this subsection shall not be      
treated as failing to apply to an       
annuity contract solely by reason of    
such contract being purchased under a   

plan maintained by more than #a         
employer4  7,b7 ,treatment of employers 
failing to meet requirements of plan    
7i7 ,in general ,in the case of a plan  
maintained by more than #a employer1    
this subsection shall not be treated as 
failing to apply to an annuity contract 
held under such plan merely because of  
#a or more employers failing to meet the
 requirements of this subsection1 if    
such plan satisfies rules similar to the
 rules of section #dac7;e77#b7 with     
respect to any such employer failure4   
7ii7 ,additional requirements in case of
 non-governmental plans ,a plan shall   
not be treated as meeting the           
requirements of this subsection unless  
the plan meets the requirements of      
subparagraph 7,a7 or 7,b7 of section    
#dac7;e77#a71 except in the case of a   
multiple employer plan maintained solely
 by a ,state1 a political subdivision of
 a ,state1 or an agency or              
instrumentality thereof4  4  7b7 ,annual
 registration for #djc7;b7 multiple     

employer plan ,section #fjeg of the     
,internal ,revenue ,code of #aihf is    
amended by redesignating subsection 7g7 
as subsection 7h7 and by inserting after
 subsection 7f7 the following new       
subsection3  7g7 #djc7;b7 multiple      
employer plans treated as #a plan ,in   
the case of annuity contracts to which  
this section applies and to which       
section #djc7;b7 applies by reason of   
the plan under which such contracts are 
purchased meeting the requirements of   
paragraph 7#ae7 thereof1 such plan shall
 be treated as a single plan for        
purposes of this section4  4  7c7       
,annual information returns for #djc7;b7
 multiple employer plan ,section #fjeh  
of the ,internal ,revenue ,code of #aihf
 is amended by redesignating subsection 
7f7 as subsection 7g7 and by inserting  
after subsection 7e7 the following new  
subsection3  7f7 #djc7;b7 multiple      
employer plans treated as #a plan ,in   
the case of annuity contracts to which  
this section applies and to which       

section #djc7;b7 applies by reason of   
the plan under which such contracts are 
purchased meeting the requirements of   
paragraph 7#ae7 thereof1 such plan shall
 be treated as a single plan for        
purposes of this section4  4  7d7       
,amendments to ,employee ,retirement    
,income ,security ,act of #aigd  7#a7   
,treated as pooled employer plan  7,a7  
,in general ,section #c7dc77;,a7 of the 
,employee ,retirement ,income ,security 
,act of #aigd 7#bi ,u4,s4,c4            
#ajjb7dc77;,a77 is amended--  7i7 in    
clause 7ii71 by striking section        
#eja7;a7 of such ,code or and inserting 
#eja7;a7 of such ,code1 a plan that     
consists of contracts described in      
section #djc7;b7 of such ,code1 or2 and 
7ii7 in the flush text at the end1 by   
striking the plan4 and inserting the    
plan1 but such term shall include any   
program 7other than a governmental plan7
 maintained for the benefit of the      
employees of more than #a employer that 
consists of contracts described in      

section #djc7;b7 of such ,code and that 
meets the requirements of subparagraph  
7,a7 or 7,b7 of section #dac7;e77#a7 of 
such ,code44  7,b7 ,conforming          
amendments ,paragraphs                  
7#dc77;,b77v77,,ii7 and                 
7#dd77;,a77i77,i7 of section #c of such 
,act 7#bi ,u4,s4,c4 #ajjb7 are each     
amended by striking section #dja7;a7 of 
such ,code or and inserting #dja7;a7 of 
such ,code1 a plan that consists of     
contracts described in section #djc7;b7 
of such ,code1 or4  7#b7 ,fiduciaries   
,section #c7dc77;,b77ii7 of such ,act   
7#bi ,u4,s4,c4 #ajjb7dc77;,b77ii77 is   
amended--  7,a7 by striking trustees    
meeting the requirements of section     
#djh7;a77#b7 of the ,internal ,revenue  
,code of #aihf and inserting trustees   
7or other fiduciaries in the case of a  
plan that consists of contracts         
described in section #djc7;b7 of the    
,internal ,revenue ,code of #aihf7      
meeting the requirements of section     
#djh7;a77#b7 of such ,code2 and  7,b7 by

 striking holding and inserting holding 
7or causing to be held under the terms  
of a plan consisting of such contracts74
  7e7 ,regulations relating to plan     
termination ,the ,secretary of the      
,treasury 7or the ,secretary's designee7
 shall prescribe such regulations as may
 be necessary to clarify the treatment  
of a plan termination by an employer in 
the case of plans to which section      
#djc7;b77#ae7 of the ,internal ,revenue 
,code of #aihf applies4  7f7            
,modification of model plan language    
7#a7 ,plan notifications ,the ,secretary
 of the ,treasury 7or the ,secretary's  
designee7 shall modify the model plan   
language published under section        
#dac7;e77#e7 of the ,internal ,revenue  
,code of #aihf to include language which
 notifies participating employers which 
are exempt from tax under section       
#eja7;a7 of such ,code that the plan is 
subject to the ,employee ,retirement    
,income ,security ,act of #aigd and that
 such employer is a plan sponsor with   

respect to its employees participating  
in the multiple employer plan and1 as   
such1 has certain fiduciary duties with 
respect to the plan and to its          
employees4  7#b7 ,model plans for       
multiple employer #djc7;b7              
non-governmental plans ,for plans to    
which section #djc7;b77#ae77;,a7 of the 
,internal ,revenue ,code of #aihf       
applies 7other than a plan maintained   
for its employees by a ,state1 a        
political subdivision of a ,state1 or an
 agency or instrumentality thereof7 the 
,secretary shall publish model plan     
language similar to model plan language 
published under section #dac7;e77#e7 of 
such ,code4  7g7 ,no inference with     
respect to church plans ,regarding any  
application of section #djc7;b7 of the  
,internal ,revenue ,code of #aihf to an 
annuity contract purchased under a      
church plan 7as defined in section      
#dad7;e7 of such ,code7 maintained by   
more than #a employer1 or to any        
application of rules similar to section 

#dac7;e7 of such ,code to such a plan1  
no inference shall be drawn solely      
because section #djc7;b77#ae77;,a7 of   
such ,code 7as added by this ,act7 does 
not apply to such plans4  7h7 ,effective
 date  7#a7 ,in general ,the amendments 
made by this section shall apply to plan
 years beginning after ,december #ca1   
#bjbj4  7#b7 ,rule of construction      
,nothing in the amendments made by      
subsection 7a7 shall be construed as    
limiting the authority of the ,secretary
 of the ,treasury or the ,secretary's   
delegate 7determined without regard to  
such amendment7 to provide for the      
proper treatment of a failure to meet   
any requirement applicable under the    
,internal ,revenue ,code of #aihf with  
respect to one employer 7and its        
employees7 in the case of a plan to     
which section #djc7;b77#ae7 applies4    
#c4 ,safe harbor for corrections of     
employee elective deferral failures  7a7
 ,in general ,section #dad of the       
,internal ,revenue ,code of #aihf is    

amended by adding at the end the        
following new subsection3  7aa7         
,correcting automatic contribution      
errors  7#a7 ,in general ,any plan or   
arrangement shall not fail to be treated
 as a plan described in section         
#dja7;a71 #djc7;b71 #djh1 or #deg7;b71  
as applicable1 solely by reason of a    
corrected error4  7#b7 ,corrected error 
,for purposes of this subsection1 the   
term corrected error means a reasonable 
administrative error in implementing an 
automatic enrollment or automatic       
escalation feature in accordance with   
the terms of an eligible automatic      
contribution arrangement 7as defined    
under subsection 7w77#c771 provided that
 such implementation error-- 7,a7 is    
corrected by the date which is #i months
 after the end of the plan year during  
which the failure occurred1  7,b7 is    
corrected in a manner which is favorable
 to the participant1 and  7,c7 is of a  
type which is so corrected for all      
similarly situated participants in a    

nondiscriminatory manner4  ,such        
correction may occur before or after the
 participant has terminated employment  
and may occur without regard to whether 
the error is identified by the          
,secretary4  7#c7 ,regulations and      
guidance for favorable correction       
methods ,the ,secretary shall1 by       
regulations or other guidance of general
 applicability1 specify the correction  
methods which are in a manner favorable 
to the participant for purposes of      
paragraph 7#b77;,b74  4  7b7 ,effective 
date ,the amendment made by this section
 shall apply to the correction of any   
error with respect to which the date    
described in section #dad7;aa77#b77;,a7 
of the ,internal ,revenue ,code of #aihf
 7as added by this section7 is after the
 date of enactment of this ,act4  #d4   
,application of credit for small        
employer pension plan startup costs to  
employers which join an existing plan   
7a7 ,in general ,section                
#de;,e7d77#c77;,a7 of the ,internal     

,revenue ,code of #aihf is amended by   
striking effective and inserting        
effective with respect to the eligible  
employer4  7b7 ,effective date ,the     
amendment made by this section shall    
apply to eligible employer plans which  
become effective with respect to the    
eligible employer after the date of the 
enactment of this ,act4