3.0.0 4146 2023-01-11T13:17:16Z 2023-01-11T13:17:16Z House H HR 2009-11-19 111 hsed00 Education and the Workforce Committee House Standing hsed02 Health, Employment, Labor, and Pensions Subcommittee Referred to 2010-01-04T22:10:57Z Referred to 2009-11-19T15:03:40Z 401(k) Fair Disclosure for Retirement Security Act of 2009 111 1984 HR 2009-06-17 Forwarded by Subcommittee to Full Committee (Amended) by the Yeas and Nays: 13 - 8 . Related bill CRS Defined Contribution Plan Fee Transparency Act of 2009 111 2779 HR 2009-06-09 Referred to the House Committee on Ways and Means. Related bill CRS 401(k) Fair Disclosure and Pension Security Act of 2009 111 2989 HR 2010-05-28 Placed on the Union Calendar, Calendar No. 284. Related bill CRS Defined Contribution Fee Disclosure Act of 2009 111 401 S 2009-02-09 Read twice and referred to the Committee on Health, Education, Labor, and Pensions. Related bill CRS 2010-01-04 hsed02 Health, Employment, Labor, and Pensions Subcommittee 1 House committee actions Referred to the Subcommittee on Health, Employment, Labor, and Pensions. Committee 2009-11-19 Referred to the House Committee on Education and Labor. IntroReferral H11100 2 House floor actions hsed00 Education and the Workforce Committee 2009-11-19 Introduced in House IntroReferral Intro-H 9 Library of Congress 2009-11-19 Introduced in House IntroReferral 1000 9 Library of Congress K000363 Rep. Kline, John [R-MN-2] John Kline R MN 2 N Labor and Employment Administrative law and regulatory procedures Consumer affairs Department of Labor Employee benefits and pensions Financial services and investments User charges and fees Labor and Employment 00 2009-11-19 Introduced in House 2010-04-28T15:37:20Z Sensible Transparency for Retirement Plans Act of 2009 - Amends the Employee Retirement Income Security Act of 1974 (ERISA) to require a service provider which contracts or makes arrangements with a party in interest for office space, or legal, accounting, or other reasonable services necessary for the establishment or operation of a defined benefit plan and defined contribution pension plan to disclose to the plan administrator: (1) the services to be provided; and (2) the total compensation to be received for them.

Requires the plan administrator of an individual account plan that permits a participant or beneficiary to exercise control over account assets to provide to the participant or beneficiary a notice containing the direct fees and expenses charged against the account and information on investment options 10 business days before the participant's initial investment and the effective date of any material change in such information.

Adds new requirements for quarterly benefit statements, including specified periodic account information for participants and beneficiaries. Allows plans with 100 or fewer participants and beneficiaries to issue an annual pension benefit statement instead of quarterly statements.

Requires the Secretary to make available to: (1) employers educational and compliance materials concerning compliance with requirements for disclosure of investment options to plan participants or beneficiaries; and (2) participants and beneficiaries educational materials to assist them in understanding such disclosures.

Prescribes civil penalties for plan administrators or other persons who fail or refuse to provide required pension benefit statements to plan participants or beneficiaries.

]]> Sensible Transparency for Retirement Plans Act of 2009 Display Title Sensible Transparency for Retirement Plans Act of 2009 Official Title as Introduced To amend title I of the Employee Retirement Income Security Act of 1974 to provide for disclosure regarding compensation for services to pension plans. Introduced in House IH Short Titles as Introduced Sensible Transparency for Retirement Plans Act of 2009 Introduced in House 2009-11-19T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111hr4146ih/xml/BILLS-111hr4146ih.xml 2010-01-04 Referred to the Subcommittee on Health, Employment, Labor, and Pensions. 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.