S 2969 · 106th Congress · Labor and Employment
Retirement Security Advice Act of 2000
Bill Progress
✓
Introduced2
Committee3
Senate Vote4
House5
EnactedLatest: Read twice and referred to the Committee on Finance.(2000-07-27)
Plain Language Summary
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Retirement Security Advice Act of 2000 - Amends the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code to allow prohibited transaction exemptions under specified conditions to: (1) a fiduciary adviser's provision (or contracting or otherwise arranging for provision) of certain investment advice to an employee benefit plan or to a participant or beneficiary of such plan; (2) sale, acquisition, or holding of securities or other property (including any extension of credit associated with these) pursuant to such advice; and (3) direct or indirect receipt of fees or other compensation by the fiduciary adviser or an affiliate in connection with providing such advice.…
Summarized by Claude AI · Non-partisan · For informational purposes only