ERISA Litigation Reform Act
Retirement Plans: New Rules for Lawsuits Against Employers
This bill is currently being reviewed by the House committees after members voted to approve it with changes. It is actively moving through the process and will next head to the full House for a vote. There is no companion bill listed at this time.
Passage Likelihood
Legislative Progress
Key Points
- This bill changes the rules for workers who want to sue the people in charge of their retirement plans. It makes it harder to start a lawsuit by requiring workers to show more proof of wrongdoing at the very beginning of the case.
- If a worker files a lawsuit, the bill would pause the process of collecting evidence from the company. This pause lasts while the judge decides if the case is strong enough to continue. This is meant to prevent companies from spending money on legal searches for cases that might be thrown out.
- While the case is paused, the company must keep all emails, documents, and records safe. If they intentionally get rid of evidence during this time, they can be punished by the court.
- The goal of the bill is to reduce the number of lawsuits against employers that manage 401(k) plans. Supporters believe this will save companies money, but others worry it makes it too hard for workers to protect their hard-earned savings.
Milestones
Ordered to be Reported (Amended) by the Yeas and Nays: 19 - 13.
The committee approved this bill and is sending it to the full chamber for a vote. This is a significant step — most bills never get this far.
Committee Consideration and Mark-up Session Held
Referred to the Committee on Education and Workforce, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Introduced in House
The bill was officially filed and given a number. It now enters the legislative queue.
Source Information
Document Type
Congressional Bill
Official Title
ERISA Litigation Reform Act
Data Sources
Sponsor
Cosponsors
(1)Analysis generated by AI. Always verify with official sources.