House Committee Approves Pension Bill National Underwriter (Life and Health Financial (03/21/02) p.B2; Brostoff, Steven
The approval by a House panel of H.R. 3762--a pension reform measure that would impose new fiduciary standards on plan sponsors while at the same time giving workers greater access to investment advice--contains language from the Retirement Security Advice Act, H.R 2269. That investment advice language, says Kathryn Ricard, vice president for retirements and pension with ACLI, will help ensure that plan participants have access to a wide range of financial professionals as they make decisions regarding retirement savings. The legislation, which has already passed the House, would enable insurance companies, agents, and other financial services firms to provide investment advice to plan participants.