A bill to amend the Employee Retirement Income Security Act of 1974 with regard to mortgage investments.

[AI summary unavailable — showing source text] Amends the Employee Retirement Income Security Act of 1974 to provide that certain fiduciary duties under such Act shall be deemed satisfied by investments in residential housing mortgages that provide adequate security and a reasonable rate of interest. Exempts from specified prohibitions under such Act the placing, investing, or purchase of a mortgage secured by residential housing property if such investment or sale: (1) is adequately secured; (2) is made in accordance with specific provisions rearding such loans set forth in the employee benefit plan; and (3) bears a reasonable rate of interest.…