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HR 3922 114th Congress House Labor and Employment Administrative law and regulatory procedures Department of Labor Department of the Treasury Employee benefits and pensions Executive agency funding and structure Financial services and investments

Retirement Choice Protection Act of 2015

Introduced: November 4, 2015 Introduced by: Kelly, Mike Republican · Pennsylvania See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Nov 4, 2015
Referred to the Committee on Education and the Workforce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Nov 4, 2015
Introduced in House
 Plain-English summary Congressional Research Service

Retirement Choice Protection Act of 2015

This bill amends Reorganization Plan No. 4 of 1978 to transfer from the Department of Labor to the Department of the Treasury regulatory authority for Individual Retirement Accounts (IRAs), retirement annuities, Simplified Employee Pensions, and Simple IRAs.

The bill amends the Internal Revenue Code and the Employee Retirement Income Security Act of 1974 (ERISA) to establish a best interest standard for fiduciaries who provide advice to investors in IRAs and plans not subject to ERISA. The best interest standard allows a financial advisor to make investment recommendations and receive compensation with respect to certain financial products, including proprietary products, if such advisor makes certain required disclosures.

What's happening now November 4, 2015

Referred to the Committee on Education and the Workforce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

 Committees of jurisdiction 2