Expressing the sense of the Congress that comprehensive fiduciary standards should be included in any legislation providing for individual accounts as part of, or supplemental to, Social Security.

Summary

Expresses the sense of the Congress that any legislation establishing individual accounts as part of, or supplemental to, Social Security which is favorably considered by the Congress should: (1) specify fiduciary responsibilities for the account managers and other fiduciaries in connection with such accounts; and (2) provide for liability and penalties for failure to meet such responsibilities. Expresses the sense of the Congress that any legislation specifying such fiscal responsibilities, and providing for such liability and penalties, should be at least as comprehensive in relation to such individual accounts as are requirements of certain Federal civil service law in relation to accounts maintained for Members of Congress and Federal employees under the Thrift Savings Plan.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 10 February 2005

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• Introduced in House (PDF)

  Introduced in House · EN · 10 February 2005

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• Introduced in House

  summary · EN · 10 February 2005

  Open at official source

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