# 119-hr-5325: Unclaimed Retirement Rescue Plan

119-hr-5325, Unclaimed Retirement Rescue Plan, is a 119th Congress bill sponsored by Rep. Magaziner, Seth [D-RI-2] (D-RI); status introduced; PRIA reads it as touching household money (as of 2026-09-02).

- Canonical: https://policyrisk.com/legislation/119-hr-5325
- As of: 2026-09-02
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-hr-5325
- Congress: 119
- Title: Unclaimed Retirement Rescue Plan
- Status: introduced
- Introduced: 2025-09-11
- Sponsor: Rep. Magaziner, Seth [D-RI-2] (D-RI)
- Cosponsors: 17
- Policy area: Labor and Employment
- Touches household money: yes
- Last recorded action: 2026-09-02

## Summary

**Creates a federal pathway to move unclaimed retirement distributions to State unclaimed property programs through a national clearinghouse.** This bill would set required searches, secure notice, data sharing, and reporting rules and would preserve ERISA and tax-qualified status for transfers that follow those rules. - Workers and retirees: Plan participants with unclaimed distributions of $50 or more could see their funds routed to state unclaimed property programs after required address searches and a notice. Terminated-plan amounts face a 90-day claim period and other plans generally face a 12-month period with a $5,000 per-obligation cap unless the Secretary raises it. - Plan administrators and fiduciaries: Administrators would get a clear process and an ERISA safe harbor for transfers that meet the statute and implementing rules, but they would need to perform searches, send secure notices, and file detailed transfer reports to the Secretary every 90 days. - States and reunification tools: States would receive transfers through a national Unclaimed Retirement Clearing House and a Retirement Savings Lost and Found Database that shows which distributions were claimed. The Secretary of Labor must report to Congress on the regulation's effectiveness within 24 months of issuing the rule.

## Cosponsors (17)

- Rep. Estes, Ron [R-KS-4] (R-KS), 2025-09-11T00:00:00.000Z
- Rep. Mann, Tracey [R-KS-1] (R-KS), 2025-10-08T00:00:00.000Z
- Rep. Schneider, Bradley Scott [D-IL-10] (D-IL), 2025-10-24T00:00:00.000Z
- Rep. Casten, Sean [D-IL-6] (D-IL), 2025-10-24T00:00:00.000Z
- Rep. Schmidt, Derek [R-KS-2] (R-KS), 2025-10-24T00:00:00.000Z
- Rep. Hageman, Harriet M. [R-WY-At Large] (R-WY), 2025-10-24T00:00:00.000Z
- Rep. Schrier, Kim [D-WA-8] (D-WA), 2025-11-04T00:00:00.000Z
- Rep. Rogers, Mike D. [R-AL-3] (R-AL), 2025-11-12T00:00:00.000Z
- Rep. Raskin, Jamie [D-MD-8] (D-MD), 2025-11-17T00:00:00.000Z
- Rep. Flood, Mike [R-NE-1] (R-NE), 2025-11-17T00:00:00.000Z
- Rep. Balint, Becca [D-VT-At Large] (D-VT), 2025-12-01T00:00:00.000Z
- Rep. Fitzpatrick, Brian K. [R-PA-1] (R-PA), 2025-12-09T00:00:00.000Z
- Rep. Thompson, Glenn [R-PA-15] (R-PA), 2025-12-17T00:00:00.000Z
- Rep. Subramanyam, Suhas [D-VA-10] (D-VA), 2026-01-14T00:00:00.000Z
- Rep. Liccardo, Sam T. [D-CA-16] (D-CA), 2026-02-02T00:00:00.000Z
- Rep. Deluzio, Christopher R. [D-PA-17] (D-PA), 2026-03-25T00:00:00.000Z
- Rep. Meuser, Daniel [R-PA-9] (R-PA), 2026-08-31T00:00:00.000Z

## Provisions PRIA read

- Better tracking for lost retirement money: benefit, medium. If enacted, plans would have to report transfers to the Labor Department within 90 days of enactment and every 90 days. Reports would list your name, Social Security number, birth date, last address, any QDRO, the amount, the State, and the plan, and would not be public under FOIA. The Secretary wo…
- Lost retirement payouts could go to states: mixed, high. If enacted, plans could send unclaimed retirement payouts to your State’s unclaimed property office using a national clearinghouse. For $50 or more, they would first try to find you and send a secure notice by email, portal, or mail with steps to stop the transfer. A payout would count as “unclaime…

## Related bills

- 119-hr-8800: National Defense Authorization Act for Fiscal Year 2027
- 119-hr-7567: Farm, Food, and National Security Act of 2026
- 119-hr-842: Nancy Gardner Sewell Medicare Multi-Cancer Early Detection Screening Coverage Act
- 119-hr-2102: Major Richard Star Act
- 119-hr-1262: Mikaela Naylon Give Kids a Chance Act
- 119-hr-3514: Improving Seniors’ Timely Access to Care Act of 2025

## Sources
- [119-hr-5325 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/5325)

## Related
- [119-hr-8800: National Defense Authorization Act for Fiscal Year 2027](https://policyrisk.com/legislation/119-hr-8800)
- [119-hr-7567: Farm, Food, and National Security Act of 2026](https://policyrisk.com/legislation/119-hr-7567)
- [119-hr-842: Nancy Gardner Sewell Medicare Multi-Cancer Early Detection Screening Coverage A…](https://policyrisk.com/legislation/119-hr-842)
- [119-hr-2102: Major Richard Star Act](https://policyrisk.com/legislation/119-hr-2102)
- [119-hr-1262: Mikaela Naylon Give Kids a Chance Act](https://policyrisk.com/legislation/119-hr-1262)
- [119-hr-3514: Improving Seniors’ Timely Access to Care Act of 2025](https://policyrisk.com/legislation/119-hr-3514)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-hr-5325 (as of 2026-09-02).