H.R. 5853 · 111th Congress
Fiscal Responsibility and Retirement Security Act
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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BoustanySponsor23 cosponsors · 23 R
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Akin
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Blackburn
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Broun
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Griffith
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Miller
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Roe
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Alexander
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Chaffetz
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Gingrey
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Burton
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Marchant
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Miller0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Fiscal Responsibility and Retirement Security Act - Amends the Public Health Service Act, as amended by the Patient Protection and Affordable Care Act, to require congressional approval of the designation by the Secretary of Health and Human Services (HHS) of a benefit plan as the CLASS Independence Benefit Plan under the CLASS program (a national,…
What it does: CRS summary · Introduced in House · Jul 26, 2010
Fiscal Responsibility and Retirement Security Act - Amends the Public Health Service Act, as amended by the Patient Protection and Affordable Care Act, to require congressional approval of the designation by the Secretary of Health and Human Services (HHS) of a benefit plan as the CLASS Independence Benefit Plan under the CLASS program (a national, voluntary insurance program for purchasing community living assistance services and supports). Sets forth procedures for such congressional approval by joint resolution.
Prohibits an employer from enrolling an employee in the CLASS program without providing specified notice to the employee, which includes: (1) the significant risk of failure of such a program; (2) information on deficits that the program is expected to run; (3) a statement that there is no separate pool of money set aside to pay the CLASS program benefits; and (4) an explanation of the immediate termination of the program if it is reported to be actuarially unsound.
Prohibits premiums from being collected before the Secretary has promulgated the required regulations in final form.
Terminates such program if the report by the Board of Trustees of the CLASS Independence Fund indicates that the Fund is projected to be actuarially unsound over the 75-year period beginning with the fiscal year in which such report is submitted. Establishes a refund process.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Fiscal Responsibility and Retirement Security Act
Latest action (Jul 26, 2010): Referred to House Rules
Policy area: Health · Origin: House · Introduced: Jul 26, 2010
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.