3.0.0 3185 2023-01-11T21:18:10Z 2023-01-11T21:18:10Z House H HR 2007-07-26 110 hsed00 Education and the Workforce Committee House Standing hsed02 Health, Employment, Labor, and Pensions Subcommittee Referred to 2007-09-19T14:04:16Z Markup by 2008-04-16T17:02:10Z Hearings by 2007-10-04T20:09:30Z Referred to 2007-07-26T14:00:40Z 2008-04-16 hsed00 Education and the Workforce Committee 1 House committee actions Committee Consideration and Mark-up Session Held. Committee 2008-04-16 hsed00 Education and the Workforce Committee 1 House committee actions Ordered to be Reported (Amended) by the Yeas and Nays: 25 - 19. Committee 2007-10-04 hsed00 Education and the Workforce Committee 1 House committee actions Committee Hearings Held. Committee 2007-09-19 hsed02 Health, Employment, Labor, and Pensions Subcommittee 1 House committee actions Referred to the Subcommittee on Health, Employment, Labor, and Pensions. Committee 2007-07-26 Referred to the House Committee on Education and Labor. IntroReferral H11100 2 House floor actions hsed00 Education and the Workforce Committee 2007-07-26 Introduced in House IntroReferral Intro-H 9 Library of Congress 2007-07-26 Introduced in House IntroReferral 1000 9 Library of Congress M000725 Rep. Miller, George [D-CA-7] GEORGE MILLER D CA 7 N S001165 Rep. Sires, Albio [D-NJ-13] Albio Sires D NJ 13 2007-12-19 False M001149 Rep. Michaud, Michael H. [D-ME-2] Michael Michaud D ME H. 2 2008-01-29 False 2008-05-29T04:00:00Z H.R. 3185, 401(k) Fair Disclosure for Retirement Security Act of 2008 http://www.cbo.gov/publication/19820 <p>Cost estimate for the bill as ordered reported by the House Committee on Education and Labor on April 16, 2008</p> 2008-05-29T04:00:00Z H.R. 3185, 401(k) Fair Disclosure for Retirement Security Act of 2008 https://www.cbo.gov/publication/19820 Cost estimate for the bill as ordered reported by the House Committee on Education and Labor on April 16, 2008 Labor and Employment Administrative procedure Commerce Contracts Department of Labor Federal advisory bodies Fees Finance and Financial Sector Government Operations and Politics Government paperwork Government publicity Investments Law Mutual funds Pension funds Small business Labor and Employment 00 2007-07-26 Introduced in House 2007-11-02T15:23:29Z 401(k) Fair Disclosure for Retirement Security Act of 2007 - Amends the Employee Retirement Income Security Act of 1974 (ERISA) to prohibit an administrator of an individual account plan that includes a qualified cash or deferred arrangement to enter into any contract for services to the plan without a written statement that identifies who will be performing such services, describes each such service, and specifies the expected total annual cost of such services. Requires the Secretary of Labor to prescribe a model statement that may be used for purposes of satisfying such requirements. Limits the requirements for such a statement to contracts for services if the total cost for such services equals or exceeds $1,000.

Requires an administrator of an individual account plan that permits participants or beneficiaries to exercise control over their account assets to: (1) provide to each such participant or beneficiary a notice of the investment options available for election, including a fee menu and an annual benefit statement; and (2) include at least one investment option that is a nationally recognized market-based index fund that meets certain requirements.

Requires the Secretary to make available to small employers: (1) educational and compliance materials to assist in selecting and monitoring service providers for individual account plans, investment options, and fees; and (2) services to assist in finding and understanding affordable investment options for such plans.

Establishes in the Department of Labor (DOL) an Advisory Council on Improving Employer-Employee Retirement Practices. Requires the Council to issue an annual report on the state of U.S. retirement income security.

Sets forth provisions regarding enforcement of this Act.

]]> 401(k) Fair Disclosure for Retirement Security Act of 2007 Official Title as Introduced To amend the Employee Retirement Income Security Act of 1974 to provide special reporting and disclosure rules for individual account plans and to establish in the Department of Labor an Advisory Council on Improving Employer-Employee Retirement Practices. Introduced in House IH Display Title 401(k) Fair Disclosure for Retirement Security Act of 2007 Short Titles as Introduced 401(k) Fair Disclosure for Retirement Security Act of 2007 Introduced in House 2007-07-26T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110hr3185ih/xml/BILLS-110hr3185ih.xml 2008-04-16 Committee Consideration and Mark-up Session Held. 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.