Source: https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1104&num=0&edition=prelim
Timestamp: 2020-08-10 08:23:01
Document Index: 143829239

Matched Legal Cases: ['art 4', '§ 1104', '§404', '§309', '§12002', '§1421', '§657', '§411', '§621', '§106', '§204', '§621', '§411', '§12002', '§621', '§624', '§625']

[USC02] 29 USC 1104: Fiduciary duties
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29 USC 1104: Fiduciary duties Text contains those laws in effect on August 9, 2020
With respect to the selection of an insurer for a guaranteed retirement income contract, the requirements of subsection (a)(1)(B) will be deemed to be satisfied if a fiduciary-
(B) with respect to each insurer identified under subparagraph (A)-
(C) on the basis of such consideration, concludes that-
A fiduciary will be deemed to satisfy the requirements of paragraphs (1)(B)(i) and (1)(C)(i) if-
(A) the fiduciary obtains written representations from the insurer that-
(ii) the insurer, at the time of selection and for each of the immediately preceding 7 plan years-
For purposes of this subsection, the time of selection is-
( Pub. L. 93–406, title I, §404, Sept. 2, 1974, 88 Stat. 877 ; Pub. L. 96–364, title III, §309, Sept. 26, 1980, 94 Stat. 1296 ; Pub. L. 101–508, title XII, §12002(b)(1), (2)(A), Nov. 5, 1990, 104 Stat. 1388–565 , 1388-566; Pub. L. 104–188, title I, §1421(d)(2), Aug. 20, 1996, 110 Stat. 1799 ; Pub. L. 107–16, title VI, §657(c)(1), June 7, 2001, 115 Stat. 136 ; Pub. L. 107–147, title IV, §411(t), Mar. 9, 2002, 116 Stat. 51 ; Pub. L. 109–280, title VI, §§621(a), 624(a), Aug. 17, 2006, 120 Stat. 978 , 980; Pub. L. 110–458, title I, §106(d), Dec. 23, 2008, 122 Stat. 5107 ; Pub. L. 116–94, div. O, title II, §204, Dec. 20, 2019, 133 Stat. 3165 .)
2019-Subsec. (e). Pub. L. 116–94 added subsec. (e).
2008-Subsec. (c)(5). Pub. L. 110–458 substituted "participant or beneficiary" for "participant" wherever appearing.
2006-Subsec. (c)(1). Pub. L. 109–280, §621(a)(1), designated existing provisions as subpar. (A), redesignated former subpars. (A) and (B) as cls. (i) and (ii), respectively, of subpar. (A), in cl. (ii), inserted ", except that this clause shall not apply in connection with such participant or beneficiary for any blackout period during which the ability of such participant or beneficiary to direct the investment of the assets in his or her account is suspended by a plan sponsor or fiduciary" before period at end, and added subpars. (B) and (C).
2002-Subsec. (c)(3)(A). Pub. L. 107–147, §411(t)(1), struck out "the earlier of" after "the earlier of" in introductory provisions.
2001-Subsec. (c)(3). Pub. L. 107–16 added par. (3).
1996-Subsec. (c). Pub. L. 104–188 designated existing provisions as par. (1), redesignated former pars. (1) and (2) as subpars. (A) and (B), respectively, and added par. (2).
1990-Subsec. (a)(1)(D). Pub. L. 101–508, §12002(b)(2)(A), substituted "and subchapter III" for "or subchapter III".
1980-Subsec. (a)(1)(D). Pub. L. 96–364 inserted reference to subchapter III of this chapter.
Pub. L. 109–280, title VI, §621(b), Aug. 17, 2006, 120 Stat. 979 , provided that:
"(1) In general.-The amendments made by this section [amending this section] shall apply to plan years beginning after December 31, 2007.
"(2) Special rule for collectively bargained agreements.-In the case of a plan maintained pursuant to 1 or more collective bargaining agreements between employee representatives and 1 or more employers ratified on or before the date of the enactment of this Act [Aug. 17, 2006], paragraph (1) shall be applied to benefits pursuant to, and individuals covered by, any such agreement by substituting for 'December 31, 2007' the earlier of-
Pub. L. 109–280, title VI, §624(b), Aug. 17, 2006, 120 Stat. 980 , provided that:
"(1) In general.-The amendments made by this section [amending this section] shall apply to plan years beginning after December 31, 2006.
"(2) Regulations.-Final regulations under section 404(c)(5)(A) of the Employee Retirement Income Security Act of 1974 [29 U.S.C. 1104(c)(5)(A)] (as added by this section) shall be issued no later than 6 months after the date of the enactment of this Act [Aug. 17, 2006]."
Pub. L. 109–280, title VI, §625, Aug. 17, 2006, 120 Stat. 980 , provided that:
"(a) In General.-Not later than 1 year after the date of the enactment of this Act [Aug. 17, 2006], the Secretary of Labor shall issue final regulations clarifying that the selection of an annuity contract as an optional form of distribution from an individual account plan to a participant or beneficiary-
"(b) Effective Date.-This section shall take effect on the date of enactment of this Act [Aug. 17, 2006]."