S.1227 - A bill to amend title I of the Employee Retirement Income Security Act of 1974 to clarify treatment of investment managers under such title.105th Congress (1997-1998)
|Sponsor:||Sen. Jeffords, James M. [R-VT] (Introduced 09/26/1997)|
|Latest Action:||11/10/1997 Became Public Law No: 105-72. (TXT | PDF) (All Actions)|
This bill has the status Became Law
Here are the steps for Status of Legislation:
- Passed Senate
- Passed House
- To President
- Became Law
Summary: S.1227 — 105th Congress (1997-1998)All Bill Information (Except Text)
Introduced in Senate (09/26/1997)
Amends the Employee Retirement Income Security Act of 1974 (ERISA) to provide that investment managers under ERISA shall include fiduciaries registered solely under State law only if Federal registration is prohibited under the Investment Advisors Act of 1940.
Treats a fiduciary as meeting certain ERISA filing requirements if the information is available to the Secretary of Labor from a centralized electronic or other record-keeping database.