[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[S. 3746 Introduced in Senate (IS)]

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117th CONGRESS
  2d Session
                                S. 3746

 To require the Secretary of Labor to review certain provisions of the 
 Code of Federal Regulations related to fiduciary standards under the 
    Employee Retirement Income Security Act of 1974, and for other 
                               purposes.


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                   IN THE SENATE OF THE UNITED STATES

                             March 3, 2022

  Mr. Murphy introduced the following bill; which was read twice and 
  referred to the Committee on Health, Education, Labor, and Pensions

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                                 A BILL


 
 To require the Secretary of Labor to review certain provisions of the 
 Code of Federal Regulations related to fiduciary standards under the 
    Employee Retirement Income Security Act of 1974, and for other 
                               purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Pension Risk Transfer Accountability 
Act of 2021''.

SEC. 2. REVIEW OF PENSION RISK TRANSFER INTERPRETIVE BULLETIN.

    Not later than 1 year after the date of enactment of this Act, the 
Secretary of Labor shall--
            (1) review section 2509.95-1 of title 29, Code of Federal 
        Regulations (relating to the fiduciary standards under the 
        Employee Retirement Income Security Act of 1974 when selecting 
        an annuity provider for a defined benefit pension plan) to 
        determine whether amendments to such section are warranted; and
            (2) report to Congress on the findings of such review, 
        including an assessment of any risk to participants.
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