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US SB3615

Bill

Official Source

Status

Introduced

1/12/2026

Primary Sponsor

Amy Klobuchar

Click for details

Origin

Senate

119th Congress

AI Summary

  • Amends Internal Revenue Code Section 414A(c)(3) to exempt multiemployer plans from automatic enrollment requirements that currently apply to 401(k) and similar retirement plans
  • Adds multiemployer plans to the existing exemptions already provided for governmental plans and church plans
  • Multiemployer plans are defined under Section 414(f) as plans maintained pursuant to collective bargaining agreements between multiple employers and a labor union
  • Effective for taxable years beginning after December 31, 2024
  • Introduced January 12, 2026 by Senators Klobuchar (D-MN) and Moreno (R-OH) and referred to the Senate Finance Committee

Legislative Description

Multiemployer Plan Relief Act

Last Action

Read twice and referred to the Committee on Finance.

1/12/2026

Committee Referrals

Finance1/12/2026

Full Bill Text

No bill text available