U.S. Congress - S.401 Defined Contribution Fee Disclosure Act of 2009
S.401 - Defined Contribution Fee Disclosure Act of 2009
A bill to amend the Employee Retirement Income Security Act of 1974 to provide special reporting and disclosure rules for individual accounts plans and for other purposes. view all titles (2)
All Bill Titles
- Official: A bill to amend the Employee Retirement Income Security Act of 1974 to provide special reporting and disclosure rules for individual accounts plans and for other purposes. as introduced.
- Short: Defined Contribution Fee Disclosure Act of 2009 as introduced.
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Official Summary
2/9/2009--Introduced.Defined Contribution Fee Disclosure Act of 2009 - Amends the Employee Retirement Income Security Act of 1974 (ERISA) to prohibit an administrator of an individual account plan that includes a qualified cash or deferred arrangement from contracting for services to the pOfficial Summary
2/9/2009--Introduced.Defined Contribution Fee Disclosure Act of 2009 - Amends the Employee Retirement Income Security Act of 1974 (ERISA) to prohibit an administrator of an individual account plan that includes a qualified cash or deferred arrangement from contracting for services to the plan unless the administrator has received in advance a written statement that describes the services to be provided, identifies any other entity performing such services, provides the expected total annual service charges allocated among specified components, and discloses financial relationships with, or free or discounted services provided by, other parties. Limits applicability of such requirements to contracts for services with a total cost that equals or exceeds $5,000 per plan year or .01% of the value of plan assets at the end of the preceding plan year. Requires an individual account plan administrator that permits a participant or beneficiary to exercise control over account assets to provide to the participant or beneficiary a notice containing specified information on investment options 15 days prior to the participant's initial investment and the effective date of any material change in such options.Requires the Secretary of Labor to prescribe a model statement and a model notice.Requires the Secretary to make available to small employers:(1) educational and compliance materials concerning service providers; and
(2) services to assist in finding and understanding affordable investment options. Requires the Secretary to:
(1) survey and publish annually any data on plan investment options;
(2) notify the applicable regulatory authority about any service provider engaged in a pattern or practice that precludes compliance;
(3) annually audit a representative sampling of individual account plans; and
(4) recommend ways to simplify employee pension plan reporting and disclosure requirements.
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Recent Blog Coverage
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Manfred Spitzer: Lernen. Reflexion über das Kapitel Schule
(Spitzer 2009, S. 401) Als negative Einflussfaktoren auf die Schüler führt Spitzer unter anderem gesteigerten Fernsehkonsum und die intensive Nutzung von Computern bzw. dem Internet an. Aber auch Faktoren wie Mobilität, Immigration, ...
Presidential Pardon – Theory and concept
It is clear that the powers vested in the President of India under Art. 72; in the Governor under Article 161 of the Constitution and in the State Government under S. 401 of the Cr.P.C. are essentially executive powers of mercy which ...
Unfall-Blog Aktuelles aus dem Haftpflichtrecht und ...
September 2003, publ. in JAR 2004 S. 598 f.; PHILIPPE CARRUZZO, Le contrat individuel de travail, 2009, S. 401; STREIFF/VON KAENEL, a.a.O., N. 3 zu Art. 330a OR; SUSANNE JANSSEN, Die Zeugnispflicht des Arbeitgebers, 1996, S. 126 f.; ...
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