WITHIN 18 MONTHS:

Effectiveness of notice provided for eligible rollover distributions:

A 402(f) notice, often referred to as a Special Tax Notice, must be provided to the recipient of a distribution that is eligible for rollover. The notice must contain required language regarding rollover options and the tax implications that may apply. The Government Accountability Office must issue a report to Congress on the effectiveness of these notices.

NO LATER THAN TWO (2) YEARS AFTER THE DATE OF ENACTMENT:

Retirement Savings Lost and Found:

A national online database will be created to help connect former participants who are trying to reach a prior employer with Plan Sponsors who are trying to reach them regarding a remaining account balance.

Consolidation of defined contribution plan notices:

Regulations are to be amended so that the individual notices currently provided to participants by the plan can be consolidated.

WITHIN FIVE (5) YEARS:

Report on pooled employer plans:

The Department of Labor (DOL) Secretary must conduct a study on the new and growing pooled employer plan industry and issue a report within five years. Subsequent reports will be completed every five years after.