31, 2018. 4. Studies (a) In general The Secretary of the Treasury and the Secretary of Labor shall jointly conduct a separate study of the feasibility and desirability of each of the following: (1) Extending to automatic IRA arrangements spousal consent requirements similar to, or based on, those that apply under the Federal Employees’ Thrift Savings Plan, including consideration of whether modifications of such requirements are necessary to apply them to automatic IRA arrangements. (2) Establishing procedures under which amounts saved by employees in retirement bonds would be automatically transferred into alternative diversified investments provided by the private sector when employees’ automatic IRA balances reach a certain dollar level as well as procedures facilitating employees’ ability to transfer into such private sector investments. (b) Study of consolidation of individual retirement plans The Secretary of the Treasury and the Secretary of Labor shall jointly conduct a separate study of the feasibility and desirability of— (1) using data submitted on investments in individual retirement accounts and annuities to enable individuals with multiple such accounts and annuities that include very small amounts to receive periodic notices informing them about the location of these accounts and how such accounts and annuities might be consolidated, and (2) using investment arrangements associated with automatic IRAs to assist in addressing the problem of abandoned accounts. (c) Report Not later than 18 months after the date of the enactment of this Act, the Secretaries shall report the results of each study conducted under this section, together with any recommendations for legislative changes, to the Committees on Finance and Health, Education, Labor, and Pensions of the Senate and the Committees on Ways and Means and Education and the Workforce of the House of Representatives. 5. Eliminating barriers to use of multiple employer plans By December 31, 2018, the Secretaries of the Treasury and Labor shall— (1)