h 37 56775 1240286400 false 1245211200 1988 465 111 400008

4/21/2009--Introduced.Conflicted Investment Advice Prohibition Act of 2009 - Amends the Employee Retirement Income Security Act of 1974 (ERISA) to allow an individual account plan and a participant or beneficiary who controls the investment of such plan's assets to receive investment advice from an independent investment adviser that is registered under the Investment Advisers Act of 1940 and meets certain other qualifying requirements, including that the adviser (and any affiliate) does not provide or manage any investments in which the plan assets of any individual account plan are invested. Prescribes requirements for an investment advice program. Prohibits a fiduciary of an individual account plan that permits a participant or beneficiary to direct the investment of assets in the individual account from appointing or contracting with an investment adviser that is not an independent adviser. Requires an independent adviser, before providing investment advice, to provide a written notification: (1) of the past performance and historic rates of return of investment options available to the plan, together with comparisons to relevant benchmarks; and (2) that such investment adviser is acting as a fiduciary of such plan.

1245211200 2009-06-17 Fri Nov 13 18:08:20 -0600 2009 introduced 56775 'act':5 '2009':7 'advic':3 'invest':2 'conflict':1 'prohibit':4 74242 false short introduced 56775 'act':11 '1974':13 'plan':27 'titl':3 'advic':19 'amend':2 'incom':9 'retir':8 'secur':10 'invest':18 'provid':15 'account':26 'employe':7 'independ':17 'individu':25 'particip':21 'beneficiari':23 72060 false official action 56775 1245211200 Wed Jun 17 00:00:00 -0500 2009 199699 Forwarded by Subcommittee to Full Committee (Amended) by the Yeas and Nays: 13 - 8 . A000210 1957-08-04 2573 2439 Rayburn House Building http://www.house.gov/andrews/contact_form_za.shtml 1 Robert 'd':4 '-1':6 'nj':5 'rep':1 'rob':9 'andrew':3,8,11 'robert':2,7,10 M 400008 Andrews Robert_E._Andrews E. Rep. Robert Andrews [D, NJ-1] 1161 Rob N00000826 8584 Democrat 202-225-6501 Episcopalian NJ Rob Robert Andrews 2.27777777777778 http://www.house.gov/andrews/ M000725 1945-05-17 8188 2205 Rayburn House Office Building http://georgemiller.house.gov/contactus/2007/08/post_1.html 7 202-225-5609 George 'd':4 '-7':6 'ca':5 'rep':1 'georg':2,7,9 'miller':3,8,10 M 400278 Miller George_Miller Rep. George Miller [D, CA-7] 4644 N00007390 10022 Democrat 202-225-2095 Catholic CA George Miller 2.1875 http://georgemiller.house.gov/ RepGeorgeMiller action 56775 1245211200 Wed Jun 17 00:00:00 -0500 2009 199699 Forwarded by Subcommittee to Full Committee (Amended) by the Yeas and Nays: 13 - 8 . action 56775 1245211200 Wed Jun 17 00:00:00 -0500 2009 199698 Subcommittee Consideration and Mark-up Session Held. action 56775 1242878400 Thu May 21 00:00:00 -0500 2009 197945 Referred to the Subcommittee on Health, Employment, Labor, and Pensions. action 56775 1240286400 Tue Apr 21 00:00:00 -0500 2009 191668 Referred to the House Committee on Education and Labor. action 56775 1240286400 Tue Apr 21 00:00:00 -0500 2009 191667 Sponsor introductory remarks on measure. (CR E914-915) introduced 56775 1240286400 Tue Apr 21 00:00:00 -0500 2009 191666