117 S3746 IS: Pension Risk Transfer Accountability Act of 2021 U.S. Senate 2022-03-03 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.

II117th CONGRESS2d SessionS. 3746IN THE SENATE OF THE UNITED STATESMarch 3, 2022Mr. Murphy introduced the following bill; which was read twice and referred to the Committee on Health, Education, Labor, and PensionsA BILLTo 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.

1.

Short title

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

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.