Makes a fiduciary exemption liable (by removing an exemption) for any loss resulting from any exercise of control by participants or beneficiaries over assets in their accounts undertaken in reliance on such a misrepresentation.
Applies this Act to misrepresentations made on or after January 1, 2000.
Amends Federal law relating to bankruptcy to protection of unsecured claims by employees under such ERISA provisions for liability of fiduciaries for such misrepresentations.
Introduced in House
Introduced in House
Sponsor introductory remarks on measure. (CR H51)
Referred to the Committee on Education and the Workforce, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Education and the Workforce, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Education and the Workforce, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Subcommittee on Commercial and Administrative Law.
Referred to the Subcommittee on Employer-Employee Relations.
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