I
113th CONGRESS
1st Session
H. R. 2041
IN THE HOUSE OF REPRESENTATIVES
May 17, 2013
Mr. Guthrie (for himself, Mr. Loebsack, and Ms. Jenkins) introduced the following bill; which was referred to the Committee on Education and the Workforce
A BILL
To modify the definition of fiduciary under the Employee Retirement Income Security Act of 1974 to exclude appraisers of employee stock ownership plans.
Fiduciary exclusion
Section 3(21)(A) of
the Employee Retirement Income and Security Act of 1974 (29 U.S.C. 1002(21)(A))
is amended by inserting and except to the extent a person is providing
an appraisal or fairness opinion with respect to qualifying employer securities
(as defined in section 407(d)(5)) included in an employee stock ownership plan
(as defined in section 407(d)(6)),
after subparagraph
(B),
.