Bill · H.R. 5325· House(119-HR-5325)

Unclaimed Retirement Rescue Plan

Age: 43 years

Rhode Island

Introduced: 9/11/2025
Last activity: 9/11/2025 — Referred to the Committee on Education and Workforce, and in addition to the Committee on Ways and Means, 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.
Sponsored by: Seth Magaziner
Cosponsors: - 8 - 9

Labor and Employment

Introduced
In Committee

What this bill would do

The "Unclaimed Retirement Rescue Plan" directs the Secretary of Labor to create a regulation that allows pension plan administrators to voluntarily move unclaimed retirement funds to State unclaimed property programs. Before transferring funds of $50 or more, administrators must try to find the person's current contact information and send a notice. The bill establishes a reporting system for these transfers and integrates the data into the Retirement Savings Lost and Found Database. It also provides legal relief to fiduciaries who follow these rules.

Yes· 3 of 12

Would retired people be better off under this?+7
Directly targets the recovery of retirement funds for the benefit of those in or approaching retirement.
Would people over 65 be better off under this?+6
Particularly beneficial for retirees seeking to recover forgotten pension distributions.
Would households on low incomes be better off under this?+5
Helps individuals recover assets that may be critical for financial stability.