I
107TH CONGRESS
1ST SESSION
H. R. 403
To amend title I of the Employee Retirement Income Security Act of 1974
to require persons who are plan administrators of employee pension
benefit plans or provide administrative services to such plans, and who
also provide automobile insurance coverage or provide persons offering
such coverage identifying information relating to plan participants or
beneficiaries, to submit to the Federal Trade Commission certain infor-
mation relating to such automobile insurance coverage.
IN THE HOUSE OF REPRESENTATIVES
FEBRUARY 6, 2001
Mr. ANDREWS introduced the following bill; which was referred to the
Committee on Education and the Workforce
A BILL
To amend title I of the Employee Retirement Income Secu-
rity Act of 1974 to require persons who are plan admin-
istrators of employee pension benefit plans or provide
administrative services to such plans, and who also pro-
vide automobile insurance coverage or provide persons
offering such coverage identifying information relating
to plan participants or beneficiaries, to submit to the
Federal Trade Commission certain information relating
to such automobile insurance coverage.
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ‘‘Truth in Automobile
Insurance Rates Act of 2001’’.
SEC. 2. INFORMATION REQUIRED TO BE SUBMITTED TO
THE FEDERAL TRADE COMMISSION RELAT-
ING TO AUTOMOBILE INSURANCE COVERAGE.
(a) IN GENERAL.—Section 101 of the Employee Re-
tirement Income Security Act of 1974 (29 U.S.C. 1021)
is amended by inserting after subsection (e) the following
new subsection:
‘‘(f) SUBMISSION TO THE FEDERAL TRADE COMMIS-
SION OF CERTAIN INFORMATION RELATING TO AUTO-
MOBILE INSURANCE COVERAGE.—
‘‘(1) IN GENERAL.—Any person who is, during
any calendar year, the plan administrator of an em-
ployee pension benefit plan or provides administra-
tive services to such a plan and who—
‘‘(A) also offers automobile insurance cov-
erage during such year in a State in which a
participant or beneficiary under the plan re-
sides, or
‘‘(B) provides during such calendar year to
any person offering automobile insurance cov-
erage in such State any identifying information
relating to any participant or beneficiary under
the plan,
shall provide annually to the Federal Trade Commis-
sion the information described in paragraph (2).
Such person shall certify annually to the Secretary
compliance with the requirements of this subsection.
‘‘(2) REQUIRED INFORMATION.—
‘‘(A) IN GENERAL.—The information de-
scribed in this paragraph consists of the fol-
lowing:
‘‘(i) The total amount collected in the
year reported on, by each person specified
in subparagraph (B), in insurance pre-
miums on automobile insurance from auto-
mobile insurance policyholders in the
State.
‘‘(ii) The total amount that each per-
son specified in subparagraph (B) paid out
in the year reported on in automobile in-
surance claims in response to the claims
filed by automobile insurance policyholders
in such State.
‘‘(iii) The total amount added in the
year reported on, by each person specified
in subparagraph (B), to such person’s re-
serve balance for automobile insurance
claims filed by automobile insurance policy-
holders in such State.
‘‘(B) SPECIFIED
PERSONS.—The persons
specified in this subparagraph are the person
described in paragraph (1), each person pro-
vided identifying information (as described in
paragraph (1)(B)) by the person described in
paragraph (1), and each person related to any
of the foregoing.
‘‘(3) RELATED PERSON.—For purposes of this
subsection—
‘‘(A) a person is ‘related’ to any other per-
son if such persons are under common control,
and
‘‘(B) the determination of whether two or
more persons are under ‘common control’ shall
be made under regulations of the Secretary
which are consistent and coextensive with regu-
lations prescribed for similar purposes by the
Secretary of the Treasury under subsections (b)
and (c) of section 414 of the Internal Revenue
Code of 1986.’’.
SEC. 3. EFFECTIVE DATE.
The amendments made by this Act shall apply with
respect to plan years beginning on or after January 1,
2003.
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