American Pension Investments Modernization Act of 2014

[AI summary unavailable — showing source text] American Pension Investments Modernization Act of 2014 - Amends the Employee Retirement Income Security Act of 1974 (ERISA) to require the fiduciary of an employee benefit plan to establish policies for appointment of an investment manager or managers to manage any plan assets or business enterprise or enterprises for brokerage and investment banking services. Requires the fiduciary, under these policies, to consider: the concentration level of the plan's exposure to firm-specific risks, including operational, compliance, and fraud risks; the inclusion, to the greatest extent feasible, of minority business enterprises for brokerage and investment banking services (including enterprises owned or controlled by specified percentages of African-Americans, Hispanic-Americans, Asian Pacific Americans, Subcontinent Asian Americans, Native Americans, women, or veterans); and the utilization of diverse asset managers, taking into consideration the investment opportunities they offer in sectors, strategies, geographies, and demographics not meaningfully available to the plans. Defines "diverse asset manager" as a minority business enterprise that manages an investment portfolio of …