A bill to amend the Employees Retirement Income Security Act of 1974 to require a fiduciary to invest at least 5 per centum of the assets of an employee benefit plan in residential home mortgages.

Summary

Amends the Employee Retirement Income Security Act of 1974 to require fiduciaries to invest at least five percent of the assets of an employee benefit plan in: (1) mortgages and loans which are adequately secured by liens on residential real property and which bear reasonable rates of interest; (2) securities backed by such mortgages and loans; and (3) obligations and securities issued by mortgagees approved for participation in any mortgage insurance program under specified provisions of the National Housing Act.

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Timeline

1. 29 April 1982

   Introduced

   Read twice and referred to the Committee on Labor and Human Resources.

   Source: IntroReferral

2. 29 April 1982

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 13 May 1982

   Referred

   Referred to Subcommittee on Labor.

   Source: Committee

Votes

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Versions

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Documents

1 official file

• Introduced in Senate

  summary · EN · 29 April 1982

  Open at official source

Sponsors

• Sen. DeConcini, Dennis [D-AZ] · D · Sponsor
• · sshr00 · Standing

Related records

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