• Summary of Retirement Plan Investment Advice -- Proposed Legislation
  • May 15, 2003 | Author: Kathleen Ziga
  • Law Firm: Dechert LLP - Philadelphia Office
  • Since the opening of the 107th Congress at the beginning of 2001, several pension reform bills have been introduced in Congress. Although none, as yet, have been enacted, three of themĀ¾one in the House of Representatives (the "House") and two in the SenateĀ¾have cleared a number of hurdles in the legislative process and, even if none are enacted this year, are likely to be re-introduced and debated in the new Congress opening in January. These bills would amend the Employee Retirement Income Security Act of 1974 ("ERISA") and the Internal Revenue Code of 1986 (the "Code") in a variety of ways. The following is a summary of the approaches taken in these bills with respect to the provision of investment advice to retirement plan participants.