Jim Banks (R-IN)

INSIGHT Act

S. 4360 · Senate bill Labor and Employment

A Republican bill with 3 Republican cosponsors · See all 3 cosponsors

Last activity — Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

In committee

Introduced and handed to a committee in the chamber it started in.

The committee holds it, and most bills are never heard from again. A hearing or a committee vote would be news; silence is the usual outcome, and it kills the bill without anyone voting against it.

Its path through Congress

  1. Introduced
  2. In Committee

What this bill would do

This bill, known as the "Investigation Status and Governance for Honest Transparency Act" or the "INSIGHT Act," seeks to amend the Employee Retirement Income Security Act of 1974. It requires the Employee Benefit Security Administration to submit annual reports to Congress regarding the status of active enforcement investigations. The bill also establishes new requirements for "adverse assistance" provided to individuals, specifically regarding advice directed toward attorneys for civil actions. Under these rules, the Secretary must enter into written agreements and provide copies to impacted employers or fiduciaries before providing such assistance. Finally, the Act declares a policy to promote and facilitate the voluntary establishment and maintenance of employee benefit plans.

Yes

  • Scored +5

    Does this make what the government does easier for the public to see?

    The bill mandates detailed annual reporting to Congress on the status of investigations and assistance agreements.

  • Scored +3

    Would business owners be better off under this?

    The bill requires the Secretary to notify employers or fiduciaries of assistance provided to individuals that may impact them.

  • Scored +2

    Does this strengthen Social Security?

    The bill declares a policy to promote and facilitate the voluntary establishment and maintenance of employee benefit plans.

The opposite

  • Scored -2

    Would union members be better off under this?

    The bill creates more rigorous reporting and notification requirements for assistance provided to attorneys in civil actions.