This bill would ban mandatory arbitration clauses and class action waivers in employee retirement and benefit plans covered by federal law. Under current law, employers can require workers and retirees to resolve disputes through private arbitration instead of court, and can prevent them from joining class action lawsuits. This legislation would make such provisions unenforceable and prohibit employers from requiring employees to agree to them as a condition of employment or receiving benefits. The bill would allow postdispute arbitration agreements only if workers voluntarily agree to them in writing after a 45-day waiting period and receive clear notice of their right to refuse without retaliation. The changes would take effect immediately upon enactment and apply to all disputes arising after that date, though employers would have until one year after enactment to update their plan documents to comply with the new requirements.