Section 1 Short title
This Act may be cited as the “Pooled Employer Plan Fix Act ”.
Pooled Employer Plan Fix Act
A BILL
To amend the Employee Retirement Income Security Act of 1974 to require that named fiduciaries collect contributions to pooled employer plans, and for other purposes.
Sec. 2 Pooled employer plan fiduciary requirement
Section 3(43)(B)(ii) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1002(43)(B)(ii)) is amended to read as follows:
“(ii) designate a named fiduciary (other than an employer in the plan) to be responsible for collecting contributions to the plan and require such fiduciary to implement written contribution collection procedures that are reasonable, diligent, and systematic;”