Bill
Bill > HR8660
US HR8660
To direct the Secretary of Labor to modify regulations to allow the use of performance benchmarks in the case of designated investment alternatives, and for other purposes.
summary
Introduced
10/23/2020
10/23/2020
In Committee
10/23/2020
10/23/2020
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
A BILL To direct the Secretary of Labor to modify regulations to allow the use of performance benchmarks in the case of designated investment alternatives, and for other purposes. 1
AI Summary
This bill directs the Secretary of Labor to modify regulations under the Employee Retirement Income Security Act (ERISA) to allow the use of performance benchmarks that are a blend of different broad-based securities market indices for designated investment alternatives that contain a mix of asset classes. The bill specifies that the blend must be reasonably representative of the asset class holdings, updated at least annually, provided to participants in an understandable manner, and each individual index must separately satisfy the regulatory requirements. The bill also requires the Secretary of Labor to deliver a report on the effectiveness of the benchmarking requirements by the end of 2021.
Committee Categories
Education
Sponsors (1)
Last Action
Referred to the House Committee on Education and Labor. (on 10/23/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/116th-congress/house-bill/8660/all-info |
| BillText | https://www.congress.gov/116/bills/hr8660/BILLS-116hr8660ih.pdf |
| Bill | https://www.congress.gov/116/bills/hr8660/BILLS-116hr8660ih.pdf.pdf |
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