3.0.0 1698 2023-01-15T08:03:21Z 2023-01-15T08:03:21Z Senate S S 2003-10-01 108 sshr00 Health, Education, Labor, and Pensions Committee Senate Standing Referred to 2003-10-01T21:54:01Z 2003-10-01 sshr00 Health, Education, Labor, and Pensions Committee Senate Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (text of measure as introduced: CR S12290-12292) IntroReferral 2003-10-01 Sponsor introductory remarks on measure. (CR S12289-12290) IntroReferral B00100 9 Library of Congress 2003-10-01 Introduced in Senate IntroReferral 10000 9 Library of Congress E000285 Sen. Enzi, Michael B. [R-WY] MICHAEL ENZI R WY B. N G000445 Sen. Gregg, Judd [R-NH] Judd Gregg R NH 2003-10-01 True B000611 Sen. Bond, Christopher S. [R-MO] CHRISTOPHER BOND R MO S. 2003-10-01 True S000059 Sen. Santorum, Rick [R-PA] RICK SANTORUM R PA 2003-10-01 True Labor and Employment Affiliated corporations Brokers Commerce Employee rights Excise tax Fees Finance and Financial Sector Financial institutions Government Operations and Politics Government paperwork Insurance companies Investment advisers Investments Law Pension funds Securities Stocks Tax penalties Taxation Trusts and trustees Labor and Employment 00 2003-10-01 Introduced in Senate 2004-04-16T18:34:52Z Qualifies the following as such fiduciary advisers if they satisfy applicable laws: (1) registered investment advisers; (2) banks; (3) insurance companies; (4) registered broker-dealers; (5) affiliates of such entities; or (6) employees, agents, or registered representatives of such entities.

Requires such a fiduciary adviser to disclose: (1) fees or other compensation it receives relating to the provision of investment advice or a resulting sale or acquisition of securities or other property, including from third parties; (2) any interest it has (and its affiliates have) in any security or other property recommended, purchased, or sold; (3) any limitation placed on its ability to provide advice; (4) the advisory services offered; (5) that it is acting as a fiduciary of the plan in connection with the provision of such advice; and (6) any information required to be disclosed under applicable securities laws.

Exempts from the duty to monitor the specific investment advice given by the fiduciary adviser a plan sponsor or other fiduciary that arranges for a fiduciary adviser to provide investment advice to participants and beneficiaries, if certain conditions are met. Allows plan assets to be used to pay for the expenses of providing investment advice to participants and beneficiaries.]]>

Retirement Security Advice Act of 2003 Display Title Retirement Security Advice Act of 2003 Official Title as Introduced A bill to amend title I of the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code of 1986 to promote the provision of retirement investment advice to workers managing their retirement income assets. Introduced in Senate IS Short Titles as Introduced Retirement Security Advice Act of 2003 Introduced in Senate 2003-10-01T04:00:00Z 2003-10-01 Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (text of measure as introduced: CR S12290-12292) text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.