[13806]
August 3, 2001
TO: PENSION COMMITTEE No. 52-01
INVESTMENT ADVICE AD HOC COMMITTEE No. 4-01
RE: HOUSE SUBCOMMITTEE APPROVES INVESTMENT ADVICE LEGISLATION
Yesterday, the House Subcommittee on Employer-Employee Relations, Committee on
Education and the Workforce, reported favorably H.R. 2269, the “Retirement Security Advice
Act of 2001.” As you know, H.R. 2269, introduced by full Committee Chairman John Boehner
(R-OH), would provide a statutory exemption from ERISA’s prohibited transaction rules for the
provision of investment advice by plan service providers. The Institute recently submitted
testimony to the Subcommittee urging enactment of H.R. 2269.1 For a description of the
legislation, please refer to the Institute’s prior memorandum summarizing its provisions.2
It is anticipated that the full Education and the Workforce Committee will mark up the
legislation in early September.
Thomas T. Kim
Assistant Counsel
1 See Institute Memorandum to Pension Committee No. 48-01 and Investment Advice Ad Hoc Committee 3-01, dated
July 19, 2001.
2 See Institute Memorandum to Pension Committee No. 40-01 and Investment Advice Ad Hoc Committee 2-01, dated
June 25, 2001.