152 
•HR 4213 EAH1S 
‘‘(ii) inform the Pension Benefit Guar-
anty Corporation of such election in such 
form and manner as the Pension Benefit 
Guaranty Corporation may prescribe.’’. 
(b) 
ASSET
SMOOTHING
FOR
MULTIEMPLOYER 
PLANS.— 
(1) ERISA AMENDMENT.—Section 304(c)(2) of 
the Employee Retirement Income Security Act of 
1974 (29 U.S.C. 1084(c)(2)) is amended— 
(A) by redesignating subparagraph (B) as 
subparagraph (C); and 
(B) by inserting after subparagraph (A) the 
following new subparagraph: 
‘‘(B) EXTENDED ASSET SMOOTHING PERIOD 
FOR
CERTAIN
INVESTMENT
LOSSES.—The Sec-
retary of the Treasury shall not treat the asset 
valuation method of a multiemployer plan as 
unreasonable solely because such method spreads 
the difference between expected and actual re-
turns for either or both of the first 2 plan years 
ending on or after June 30, 2008, over a period 
of not more than 10 years. Any change in valu-
ation method to so spread such difference shall be 
treated as approved, but only if, in the case that 
the plan sponsor has made an election under
153 
•HR 4213 EAH1S 
subsection (b)(8), any resulting change in asset 
value is treated for purposes of amortization as 
a net experience loss or gain.’’. 
(2) IRC AMENDMENT.—Section 431(c)(2) of the 
Internal Revenue Code of 1986 is amended— 
(A) by redesignating subparagraph (B) as 
subparagraph (C); and 
(B) by inserting after subparagraph (A) the 
following new subparagraph: 
‘‘(B) EXTENDED ASSET SMOOTHING PERIOD 
FOR
CERTAIN
INVESTMENT
LOSSES.—The Sec-
retary shall not treat the asset valuation method 
of a multiemployer plan as unreasonable solely 
because such method spreads the difference be-
tween expected and actual returns for either or 
both of the first 2 plan years ending on or after 
June 30, 2008, over a period of not more than 
10 years. Any change in valuation method to so 
spread such difference shall be treated as ap-
proved, but only if, in the case that the plan 
sponsor has made an election under subsection 
(b)(8), any resulting change in asset value is 
treated for purposes of amortization as a net ex-
perience loss or gain.’’. 
(c) EFFECTIVE DATE AND SPECIAL RULES.—
154 
•HR 4213 EAH1S 
(1) EFFECTIVE DATE.—The amendments made 
by this section shall take effect as of the first day of 
the first plan year beginning after June 30, 2008, ex-
cept that any election a plan sponsor makes pursuant 
to this section or the amendments made thereby that 
affects the plan’s funding standard account for any 
plan year beginning before October 1, 2009, shall be 
disregarded for purposes of applying the provisions of 
section 305 of the Employee Retirement Income Secu-
rity Act of 1974 and section 432 of the Internal Rev-
enue Code of 1986 to that plan year. 
(2) DEEMED APPROVAL FOR CERTAIN FUNDING 
METHOD CHANGES.—In the case of a multiemployer 
plan with respect to which an election has been made 
under section 304(b)(8) of the Employee Retirement 
Income Security Act of 1974 (as amended by this sec-
tion) or section 431(b)(8) of the Internal Revenue 
Code of 1986 (as so amended)— 
(A) any change in the plan’s funding meth-
od for a plan year beginning on or after July 1, 
2008, and on or before December 31, 2010, from 
a method that does not establish a base for expe-
rience gains and losses to one that does establish 
such a base shall be treated as approved by the 
Secretary of the Treasury; and
155 
•HR 4213 EAH1S 
(B) any resulting funding method change 
base shall be treated for purposes of amortization 
as a net experience loss or gain. 
SEC. 312. OPTIONAL LONGER RECOVERY PERIODS FOR 
MULTIEMPLOYER PLANS IN ENDANGERED OR 
CRITICAL STATUS. 
(a) ERISA AMENDMENTS.— 
(1) FUNDING
IMPROVEMENT
PERIOD.—Section 
305(c)(4) of the Employee Retirement Income Secu-
rity Act of 1974 is amended— 
(A) by redesignating subparagraphs (C) 
and (D) as subparagraphs (D) and (E), respec-
tively; and 
(B) by inserting after subparagraph (B) the 
following new subparagraph: 
‘‘(C) ELECTION TO EXTEND PERIOD.—The 
plan sponsor of an endangered or seriously en-
dangered plan may elect to extend the applicable 
funding improvement period by up to 5 years, 
reduced by any extension of the period pre-
viously elected pursuant to section 205 of the 
Worker, Retiree and Employer Relief Act of 
2008. Such an election shall be made not later 
than June 30, 2011, and in such form and man-
156 
•HR 4213 EAH1S 
ner as the Secretary of the Treasury may pre-
scribe.’’. 
(2) REHABILITATION PERIOD.—Section 305(e)(4) 
of such Act is amended— 
(A) by redesignating subparagraph (B) as 
subparagraph (C); 
(B) in last sentence of subparagraph (A), by 
striking ‘‘subparagraph (B)’’ each place it ap-
pears and inserting ‘‘subparagraph (C)’’; and 
(C) by inserting after subparagraph (A) the 
following new subparagraph: 
‘‘(B) ELECTION TO EXTEND PERIOD.—The 
plan sponsor of a plan in critical status may 
elect to extend the rehabilitation period by up to 
five years, reduced by any extension of the period 
previously elected pursuant to section 205 of the 
Worker, Retiree and Employer Relief Act of 
2008. Such an election shall be made not later 
than June 30, 2011, and in such form and man-
ner as the Secretary of the Treasury may pre-
scribe.’’. 
(b) IRC AMENDMENTS.— 
(1) FUNDING
IMPROVEMENT
PERIOD.—Section 
432(c)(4) of the Internal Revenue Code of 1986 is 
amended—
157 
•HR 4213 EAH1S 
(A) by redesignating subparagraphs (C) 
and (D) as subparagraphs (D) and (E), respec-
tively; and 
(B) by inserting after subparagraph (B) the 
following new subparagraph: 
‘‘(C) ELECTION TO EXTEND PERIOD.—The 
plan sponsor of an endangered or seriously en-
dangered plan may elect to extend the applicable 
funding improvement period by up to 5 years, 
reduced by any extension of the period pre-
viously elected pursuant to section 205 of the 
Worker, Retiree and Employer Relief Act of 
2008. Such an election shall be made not later 
than June 30, 2011, and in such form and man-
ner as the Secretary may prescribe.’’. 
(2) REHABILITATION PERIOD.—Section 432(e)(4) 
of such Code is amended— 
(A) by redesignating subparagraph (B) as 
subparagraph (C); 
(B) in last sentence of subparagraph (A), by 
striking ‘‘subparagraph (B)’’ each place it ap-
pears and inserting ‘‘subparagraph (C)’’; and 
(C) by inserting after subparagraph (A) the 
following new subparagraph:
158 
•HR 4213 EAH1S 
‘‘(B) ELECTION TO EXTEND PERIOD.—The 
plan sponsor of a plan in critical status may 
elect to extend the rehabilitation period by up to 
five years, reduced by any extension of the period 
previously elected pursuant to section 205 of the 
Worker, Retiree and Employer Relief Act of 
2008. Such an election shall be made not later 
than June 30, 2011, and in such form and man-
ner as the Secretary may prescribe.’’. 
(c) EFFECTIVE DATE.—The amendments made by this 
section shall apply with respect to funding improvement pe-
riods and rehabilitation periods in connection with funding 
improvement plans and rehabilitation plans adopted or up-
dated on or after the date of the enactment of this Act. 
SEC. 313. MODIFICATION OF CERTAIN AMORTIZATION EX-
TENSIONS UNDER PRIOR LAW. 
(a) IN GENERAL.—In the case of an amortization ex-
tension that was granted to a multiemployer plan under 
the terms of section 304 of the Employee Retirement Income 
Security Act of 1974 (as in effect immediately prior to en-
actment of the Pension Protection Act of 2006) or section 
412(e) of the Internal Revenue Code (as so in effect), the 
determination of whether any financial condition on the 
amortization extension is satisfied shall be made by assum-
ing that for any plan year that contains some or all of
159 
•HR 4213 EAH1S 
the period beginning June 30, 2008, and ending October 
31, 2008, the actual rate of return on the plan assets was 
equal to the interest rate used for purposes of charging or 
crediting the funding standard account in such plan year, 
unless the plan sponsor elects otherwise in such form and 
manner as shall be prescribed by the Secretary of Treasury. 
(b) REVOCATION OF AMORTIZATION EXTENSIONS.— 
The plan sponsor of a multiemployer plan may, in such 
form and manner and after such notice as may be pre-
scribed by the Secretary, revoke any amortization extension 
described in subsection (a), effective for plan years following 
the date of the revocation. 
SEC. 314. ALTERNATIVE DEFAULT SCHEDULE FOR PLANS IN 
ENDANGERED OR CRITICAL STATUS. 
(a) ERISA AMENDMENTS.— 
(1) ENDANGERED STATUS.—Section 305(c)(7) of 
the Employee Retirement Income Security Act of 
1974 (29 U.S.C. 1085(c)(7)) is amended by adding at 
the end the following new subparagraph: 
‘‘(D) ALTERNATIVE DEFAULT SCHEDULE.— 
‘‘(i) IN
GENERAL.—A plan sponsor 
may, for purposes of this paragraph, des-
ignate an alternative schedule of contribu-
tion rates and related benefit changes meet-
ing the requirements of clause (ii) as the de-
160 
•HR 4213 EAH1S 
fault schedule, in lieu of the default schedule 
referred to in subparagraph (A). 
‘‘(ii) REQUIREMENTS.—An alternative 
schedule designated pursuant to clause (i) 
meets the requirements of this clause if such 
schedule has been adopted in collective bar-
gaining agreements covering at least 75 per-
cent of the active participants as of the date 
of the designation.’’. 
(2) CRITICAL STATUS.—Section 305(e)(3) of such 
Act (29 U.S.C. 1085(e)(3)) is amended by adding at 
the end the following new subparagraph: 
‘‘(D) ALTERNATIVE DEFAULT SCHEDULE.— 
‘‘(i) IN
GENERAL.—A plan sponsor 
may, for purposes of subparagraph (C), des-
ignate an alternative schedule of contribu-
tion rates and related benefit changes meet-
ing the requirements of clause (ii) as the de-
fault schedule, in lieu of the default schedule 
referred to in subparagraph (C)(i). 
‘‘(ii) REQUIREMENTS.—An alternative 
schedule designated pursuant to clause (i) 
meets the requirements of this clause if such 
schedule has been adopted in collective bar-
gaining agreements covering at least 75 per-
161 
•HR 4213 EAH1S 
cent of the active participants as of the date 
of the designation.’’. 
(b) INTERNAL REVENUE CODE AMENDMENTS.— 
(1) ENDANGERED STATUS.—Section 432(c)(7) of 
the Internal Revenue Code of 1986 is amended by 
adding at the end the following new subparagraph: 
‘‘(C) ALTERNATIVE DEFAULT SCHEDULE.— 
‘‘(i) IN
GENERAL.—A plan sponsor 
may, for purposes of this paragraph, des-
ignate an alternative schedule of contribu-
tion rates and related benefit changes meet-
ing the requirements of clause (ii) as the de-
fault schedule, in lieu of the default schedule 
referred to in subparagraph (A). 
‘‘(ii) REQUIREMENTS.—An alternative 
schedule designated pursuant to clause (i) 
meets the requirements of this clause if such 
schedule has been adopted in collective bar-
gaining agreements covering at least 75 per-
cent of the active participants as of the date 
of the designation.’’. 
(2) CRITICAL STATUS.—Section 432(e)(3) of such 
Code is amended by adding at the end the following 
new subparagraph: 
‘‘(D) ALTERNATIVE DEFAULT SCHEDULE.—
162 
•HR 4213 EAH1S 
‘‘(i) IN
GENERAL.—A plan sponsor 
may, for purposes of subparagraph (C), des-
ignate an alternative schedule of contribu-
tion rates and related benefit changes meet-
ing the requirements of clause (ii) as the de-
fault schedule, in lieu of the default schedule 
referred to in subparagraph (C)(i). 
‘‘(ii) REQUIREMENTS.—An alternative 
schedule designated pursuant to clause (i) 
meets the requirements of this clause if such 
schedule has been adopted in collective bar-
gaining agreements covering at least 75 per-
cent of the active participants as of the date 
of the designation.’’. 
(c) EFFECTIVE DATE.—The amendments made by this 
section shall apply to designations of default schedules by 
plan sponsors on or after the date of the enactment of this 
Act. 
(d) CROSS-REFERENCE.—For sunset of the amend-
ments made by this section, see section 221(c) of the Pension 
Protection Act of 2006. 
SEC. 315. TRANSITION RULE FOR CERTIFICATIONS OF PLAN 
STATUS. 
(a) IN GENERAL.—A plan actuary shall not be treated 
as failing to meet the requirements of section 305(b)(3)(A)
163 
•HR 4213 EAH1S 
of the Employee Retirement Income Security Act of 1974 
and section 432(b)(3)(A) of the Internal Revenue Code of 
1986 in connection with a certification required under such 
sections the deadline for which is after the date of the enact-
ment of this Act if the plan actuary makes such certification 
at any time earlier than 75 days after the date of the enact-
ment of this Act. 
(b) REVISION OF PRIOR CERTIFICATION.— 
(1) IN GENERAL.—If— 
(A) a plan sponsor makes an election under 
section 304(b)(8) of the Employee Retirement In-
come Security Act of 1974 and section 431(b)(8) 
of the Internal Revenue Code of 1986, or under 
section 304(c)(2)(B) of such Act and section 
432(c)(2)(B) such Code, with respect to a plan 
for a plan year beginning on or after October 1, 
2009; and 
(B) the plan actuary’s certification of the 
plan status for such plan year (hereinafter in 
this subsection referred to as ‘‘original certifi-
cation’’) did not take into account any election 
so made, 
then the plan sponsor may direct the plan actuary to 
make a new certification with respect to the plan for 
the plan year which takes into account such election
164 
•HR 4213 EAH1S 
(hereinafter in this subsection referred to as ‘‘new cer-
tification’’) if the plan’s status under section 305 of 
such Act and section 432 of such Code would change 
as a result of such election. Any such new certifi-
cation shall be treated as the most recent certification 
referred to in section 304(b)(3)(B)(iii) of such Act 
and section 431(b)(8)(B)(iii) of such Code. 
(2) DUE DATE FOR NEW CERTIFICATION.—Any 
such new certification shall be made pursuant to sec-
tion 305(b)(3) of such Act and section 432(b)(3) of 
such Code; except that any such new certification 
shall be made not later than 75 days after the date 
of the enactment of this Act. 
(3) NOTICE.— 
(A) IN GENERAL.—Except as provided in 
subparagraph (B), any such new certification 
shall be treated as the original certification for 
purposes of section 305(b)(3)(D) of such Act and 
section 432(b)(3)(D) of such Code. 
(B) NOTICE ALREADY PROVIDED.—In any 
case in which notice has been provided under 
such sections with respect to the original certifi-
cation, not later than 30 days after the new cer-
tification is made, the plan sponsor shall provide
165 
•HR 4213 EAH1S 
notice of any change in status under rules simi-
lar to the rules such sections. 
(4) EFFECT OF CHANGE IN STATUS.—If a plan 
ceases to be in critical status pursuant to the new cer-
tification, then the plan shall, not later than 30 days 
after the due date described in paragraph (2), cease 
any restriction of benefit payments, and imposition of 
contribution surcharges, under section 305 of such Act 
and section 432 of such Code by reason of the original 
certification. 
Subtitle B—Fee Disclosure 
SEC. 321. SHORT TITLE OF SUBTITLE. 
This subtitle may be cited as the ‘‘Defined Contribu-
tion Fee Disclosure Act of 2010’’. 
SEC. 322. AMENDMENTS TO THE EMPLOYEE RETIREMENT 
INCOME SECURITY ACT OF 1974. 
(a) REQUIREMENTS RELATING
TO SERVICE PRO-
VIDERS AND PLAN ADMINISTRATORS OF INDIVIDUAL AC-
COUNT PLANS.— 
(1) IN GENERAL.—Part 1 of subtitle B of title I 
of the Employee Retirement Income Security Act of 
1974 is amended— 
(A) by redesignating section 111 (29 U.S.C. 
1031) as section 113; and
166 
•HR 4213 EAH1S 
(B) by inserting after section 110 (29 
U.S.C. 1030) the following new sections: 
‘‘SEC. 111. REQUIREMENT TO PROVIDE NOTICE OF PLAN 
FEE INFORMATION TO PLAN ADMINISTRA-
TORS. 
‘‘(a) INITIAL STATEMENT OF SERVICES PROVIDED AND 
REVENUES RECEIVED.— 
‘‘(1) IN GENERAL.—In any case in which a serv-
ice provider enters into a contract or arrangement to 
provide services to an individual account plan, the 
service provider shall, before entering into such con-
tract or arrangement, provide to the plan adminis-
trator a single written statement which includes, with 
respect to the first plan year covered under such con-
tract or arrangement, the following information: 
‘‘(A) A detailed description of the services 
which will be provided to the plan by the service 
provider, the amount of total expected annual 
revenue with respect to such services, the manner 
in which such revenue will be collected, and the 
extent to which such revenue varies between spe-
cific investment options. 
‘‘(B)(i) In the case of a service provider who 
is providing recordkeeping services with respect 
to any investment option, such information as is
167 
•HR 4213 EAH1S 
necessary for the plan administrator to satisfy 
the requirements of subparagraphs (B)(ii)(IV) 
and (C) of section 105(a)(2) and paragraphs (1) 
and (3) of section 112(a) with respect to such op-
tion, including specifying the method used by the 
service provider in disclosing or estimating ex-
penses under subparagraphs (C)(iv) and (E) of 
section 105(a)(2). 
‘‘(ii) To the extent provided in regulations 
issued by the Secretary, clause (i) shall not 
apply in the case of a service provider described 
in such clause if the service provider receives a 
written notification from the plan administrator 
that the information described in such clause in 
connection with the investment option is pro-
vided by another service provider pursuant to a 
contract or arrangement to provide services to 
the plan. 
‘‘(C) A statement indicating— 
‘‘(i) the identity of any investment op-
tions offered under the plan with respect to 
which the service provider provides substan-
tial investment, trustee, custodial, or ad-
ministrative services, and
168 
•HR 4213 EAH1S 
‘‘(ii) in the case of any investment op-
tion, whether the service provider expects to 
receive any component of total expected an-
nual 
revenue 
described 
in 
paragraph 
(2)(A)(ii)(II) with respect to such option 
and the amount of any such component. 
‘‘(D) The portion of total expected annual 
revenue which is properly allocable to each of the 
following: 
‘‘(i) Administration and recordkeeping. 
‘‘(ii) Investment management. 
‘‘(iii) Other services or amounts not 
described in clause (i) or (ii). 
‘‘(2) DEFINITION OF TOTAL EXPECTED ANNUAL 
REVENUE.—For purposes of this section— 
‘‘(A) IN GENERAL.—The term ‘total expected 
annual revenue’ means, with respect to any plan 
year— 
‘‘(i) any amount expected to be re-
ceived during such plan year from the plan 
(including amounts paid from participant 
accounts), any participant or beneficiary, 
or any plan sponsor in connection with the 
contract or arrangement referred to in 
paragraph (1), and
169 
•HR 4213 EAH1S 
‘‘(ii) any amount not taken into ac-
count under clause (i) which is expected to 
be received during such plan year by the 
service provider in connection with— 
‘‘(I) plan administration, record-
keeping, consulting, management, or 
investment or other service activities 
undertaken by the service provider 
with respect to the plan, or 
‘‘(II) plan administration, record-
keeping, consulting, management, or 
investment or other service activities 
undertaken by any other person with 
respect to the plan. 
‘‘(B) EXPRESSED AS DOLLAR AMOUNT OR 
PERCENTAGE
OF
ASSETS.—Total expected an-
nual revenue and any amount indicated under 
paragraph (1)(C)(ii) may be expressed as a dol-
lar amount or as a percentage of assets (or a 
combination thereof), as appropriate. To the ex-
tent that total expected annual revenue is ex-
pressed as a percentage of assets, such percentage 
shall be properly allocated among clauses (i), 
(ii), and (iii) of paragraph (1)(D).
170 
•HR 4213 EAH1S 
‘‘(C) PROVISION
OF
FEE
SCHEDULE
FOR 
CERTAIN
PARTICIPANT
INITIATED
TRANS-
ACTIONS.—In the case of amounts expected to be 
received from participants or beneficiaries under 
the plan (or from an account of a participant or 
beneficiary) as a fee or charge in connection 
with a transaction initiated by the participant 
(other than loads, commissions, brokerage fees, 
and other investment related transactions)— 
‘‘(i) such amounts shall not be taken 
into account in determining total expected 
annual revenue, and 
‘‘(ii) the service provider shall provide 
to the plan administrator, as part of the 
statement referred to in paragraph (1), a fee 
schedule which describes each such fee or 
charge, the amount thereof, and the manner 
in which such amount is collected. 
‘‘(D) ESTIMATIONS.—In determining under 
this subsection any amount which is expected to 
be received by the service provider, the service 
provider shall provide a reasonable estimate of 
such amount and shall indicate in the statement 
referred to in paragraph (1) whether such 
amount disclosed is an estimate. Any such esti-
171 
•HR 4213 EAH1S 
mate shall be based on reasonable assumptions 
specified in such statement. 
‘‘(3) ALLOCATION RULES.—The Secretary shall 
provide rules for defining total expected annual rev-
enue and for the appropriate and consistent alloca-
tion of total expected annual revenue among clauses 
(i), (ii), and (iii) of paragraph (1)(D), except that the 
entire amount of such revenue shall be allocated 
among such clauses and no amount may be taken into 
account under more than one clause. 
‘‘(4) DISCLOSURE OF DIFFERENT PRICING OF IN-
VESTMENT OPTIONS.—In the case of investment op-
tions with more than one share class or price level, 
the Secretary shall prescribe regulations for the disclo-
sure of the different share classes or price levels avail-
able as part of the statement in paragraph (1). Such 
regulations shall provide guidance with respect to the 
disclosure of the basis for qualifying for such share 
classes or price levels, which may include amounts in-
vested, number of participants, or other factors. 
‘‘(5) DISCLOSURE OF INVESTMENT TRANSACTION 
COSTS.—To the extent provided in regulations issued 
by the Secretary, a service provider shall separately 
disclose the transaction costs (including sales commis-
sions) for each investment option for the preceding
172 
•HR 4213 EAH1S 
year or the plan’s allocable share of such costs for the 
preceding year. 
‘‘(b) ANNUAL STATEMENTS.—With respect to each 
plan year after the plan year covered by the statement de-
scribed in subsection (a), the service provider shall provide 
the plan administrator a single written statement which in-
cludes the information described in subsection (a) with re-
spect to such subsequent plan year. 
‘‘(c) MATERIAL CHANGE STATEMENTS.—In the case of 
any event or other change during a plan year which causes 
the information included in any statement described in sub-
section (a) or (b) with respect to such plan year to become 
materially incorrect, the service provider shall provide the 
plan administrator a written statement providing the cor-
rected information not later than 30 days after the service 
provider knows, or exercising reasonable diligence would 
have known, of such event or other change. 
‘‘(d) TIME AND MANNER OF PROVIDING STATEMENT 
AND OTHER MATERIALS.—The statement referred to in sub-
sections (a)(1) and (b) shall be made at such time and in 
such manner as the Secretary may provide. Other materials 
required to be provided under this section shall be provided 
in such manner as the Secretary may provide. All informa-
tion included in such statements and other materials shall
173 
•HR 4213 EAH1S 
be presented in a manner which is easily understood by 
the typical plan administrator. 
‘‘(e) EXCEPTION FOR SMALL SERVICE PROVIDERS.— 
The requirements of this section shall not apply with respect 
to any contract or arrangement for services provided with 
respect to an individual account plan for any plan year 
if— 
‘‘(1) the total annual revenue expected by the 
service provider to be received with respect to the plan 
for such plan year is less than $5,000, and 
‘‘(2) the service provider provides a written 
statement to the plan administrator that the total an-
nual revenue expected by the service provider to be re-
ceived with respect to the plan is less than $5,000. 
Service providers who expect to receive de minimis annual 
revenue from the plan need not provide the written state-
ment described in paragraph (2). The Secretary may by 
regulation or other guidance adjust the dollar amount speci-
fied in this subsection. 
‘‘(f) DEFINITION OF SERVICE PROVIDER.—For pur-
poses of this section— 
‘‘(1) IN GENERAL.—The term ‘service provider’ 
includes any person providing administration, rec-
ordkeeping, consulting, investment management serv-
174 
•HR 4213 EAH1S 
ices, or investment advice to an individual account 
plan under a contract or arrangement. 
‘‘(2) CONTROLLED
GROUPS
TREATED
AS
ONE 
SERVICE
PROVIDER.—All persons which would be 
treated as a single employer under subsection (b) or 
(c) of section 414 of the Internal Revenue Code of 
1986 if section 1563(a)(1) of such Code were ap-
plied— 
‘‘(A) except as provided by subparagraph 
(B), by substituting ‘more than 50 percent’ for 
‘at least 80 percent’ each place it appears there-
in, or 
‘‘(B) for purposes of subsection (a)(1)(C)(i), 
by substituting ‘at least 20 percent’ for ‘at least 
80 percent’ each place it appears therein, 
shall be treated as one person for purposes of this sec-
tion. 
‘‘SEC. 112. REQUIREMENT TO PROVIDE NOTICE TO PARTICI-
PANTS OF PLAN FEE INFORMATION. 
‘‘(a) DISCLOSURES
TO PARTICIPANTS
AND BENE-
FICIARIES.— 
‘‘(1) ADVANCE
NOTICE
OF
AVAILABLE
INVEST-
MENT OPTIONS.— 
‘‘(A) IN GENERAL.—The plan administrator 
of an applicable individual account plan shall
175 
•HR 4213 EAH1S 
provide to the participant or beneficiary notice 
of the investment options available under the 
plan before— 
‘‘(i) the earliest date provided for 
under the plan for the participant’s initial 
investment of any contribution made on be-
half of such participant, and 
‘‘(ii) the effective date of any change in 
the list of investment options available 
under the plan, unless such advance notice 
is impracticable, and in such case, as soon 
as is practicable. 
‘‘(B) INFORMATION INCLUDED IN NOTICE.— 
The notice required under subparagraph (A) 
shall— 
‘‘(i) set forth, with respect to each 
available investment option— 
‘‘(I) the name of the option, 
‘‘(II) a general description of the 
option’s 
investment 
objectives 
and 
principal investment strategies, prin-
cipal risk and return characteristics, 
and the name of the option’s invest-
ment manager,
183 
•HR 4213 EAH1S 
‘‘(2) provide guidelines, and a safe harbor, for 
the selection of an appropriate benchmark, index, or 
other point of comparison for an investment option 
under subsection (a)(1)(C)(iii)(II).’’. 
(2) CLERICAL AMENDMENT.—The table of con-
tents in section 1 of such Act is amended by striking 
the item relating to section 111 and inserting the fol-
lowing new items: 
‘‘Sec. 111. Requirement to provide notice of plan fee information to plan admin-
istrators. 
‘‘Sec. 112. Requirement to provide notice to participants of plan fee information. 
‘‘Sec. 113. Repeal and effective date.’’. 
(b) QUARTERLY BENEFIT STATEMENTS.—Section 105 
of such Act (29 U.S.C. 1025) is amended— 
(1) in subsection (a)(2)— 
(A) by redesignating subparagraph (C) as 
subparagraph (G); 
(B) in subparagraph (B)(ii)— 
(i) in subclause (II), by striking ‘‘di-
versified, and’’ and inserting ‘‘diversified,’’; 
(ii) in subclause (III) by striking the 
period and inserting ‘‘,
and’’; and 
(iii) by adding after subclause (III) the 
following new subclause: 
‘‘(IV) with respect to the portion 
of a participant’s account for which 
the participant has the right to direct