Protecting American Families' Retirement Advice Act
Latest action · Jan 6, 2017 Referred to the Committee on Education and the Workforce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedJan 6, 2017
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Protecting American Families' Retirement Advice Act
This bill delays for two years the effective date of the Department of Labor rule published on April 8, 2016, relating to the definition of the term "fiduciary" and the conflict of interest rule with respect to retirement investment advice.
(The rule defines who is a fiduciary with respect to pension and retirement plans. Under current law, a person who provides investment advice has a fiduciary obligation that requires the person to provide advice in the sole interest of plan participants and beneficiaries. The rule changes the definition of "investment advice" to treat people who provide investment advice to pension and retirement plans for a fee or other compensation as fiduciaries in a wider array of advice relationships.)
Cosponsors 40
Members who signed on, in the order they did. Signatures ran from Jan 9, 2017 to Jun 12, 2017.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-AR | Eric A. "Rick" Crawford | Jan 9, 2017 | |
| R-PA | Glenn Thompson | Jan 9, 2017 | |
| R-OK | Jim Bridenstine | Jan 9, 2017 | |
| R-NC | Mark Meadows | Jan 9, 2017 | |
| R-UT | Mia B. Love | Jan 9, 2017 | |
| R-MO | Billy Long | Jan 10, 2017 | |
| R-TX | Lamar Smith | Jan 10, 2017 | |
| R-TX | Louie Gohmert | Jan 10, 2017 | |
| R-PA | Mike Kelly | Jan 10, 2017 | |
| R-OH | Robert E. Latta | Jan 10, 2017 | |
| R-OK | Tom Cole | Jan 10, 2017 | |
| R-TX | Bill Flores | Jan 12, 2017 | |
| R-FL | Bill Posey | Jan 12, 2017 | |
| R-OH | Bob Gibbs | Jan 12, 2017 | |
| R-ME | Bruce Poliquin | Jan 12, 2017 | |
| R-IL | Darin LaHood | Jan 12, 2017 | |
| R-NC | David Rouzer | Jan 12, 2017 | |
| R-CA | Doug LaMalfa | Jan 12, 2017 | |
| R-WV | Evan H. Jenkins | Jan 12, 2017 | |
| R-WI | Glenn Grothman | Jan 12, 2017 | |
| R-IL | Randy Hultgren | Jan 12, 2017 | |
| R-VA | H. Morgan Griffith | Jan 13, 2017 | |
| R-IN | Jackie Walorski | Jan 13, 2017 | |
| R-SC | Jeff Duncan | Jan 13, 2017 | |
| R-SC | Trey Gowdy | Jan 13, 2017 | |
| R-TN | Diane Black | Jan 23, 2017 | |
| R-GA | Rick W. Allen | Jan 30, 2017 | |
| R-AZ | Paul A. Gosar | Feb 2, 2017 | |
| R-FL | Ron DeSantis | Feb 2, 2017 | |
| R-FL | Ted S. Yoho | Feb 13, 2017 | |
| R-TX | Mac Thornberry | Feb 15, 2017 | |
| R-NY | Peter T. King | Mar 1, 2017 | |
| R-PA | Tom Marino | Mar 1, 2017 | |
| R-VA | Bob Goodlatte | Mar 9, 2017 | |
| R-MI | Mike Bishop | Mar 16, 2017 | |
| R-GA | A. Drew Ferguson IV | Mar 17, 2017 | |
| R-TX | Kenny Marchant | Mar 20, 2017 | |
| R-LA | Ralph Lee Abraham | Apr 27, 2017 | |
| R-NJ | Rodney P. Frelinghuysen | May 19, 2017 | |
| R-NC | Ted Budd | Jun 12, 2017 |
Committees 2
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Education and Workforce Committee | Referred Jan 6, 2017 |
| House | Ways and Means Committee | Referred Jan 6, 2017 |
Actions 2
Everything that happened, newest first.
- Jan 6, 2017Introduced in House
- Jan 6, 2017Referred to the Committee on Education and the Workforce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
In the Congressional Record 2
Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.
| Where | In the Record | Members | Date |
|---|---|---|---|
| House | Debate and remarks H1136 | Joe Wilson R-SC | Feb 14, 2017 |
| Extensions | Debate and remarks E161 | Joe Wilson R-SC | Feb 7, 2017 |
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Constitutional authority
The sponsor’s statement, as printed in the Congressional Record, vol. 163, no. 4, January 6, 2017, page H195.
Printed hearings 1
Hearings whose printed record names this bill, newest first: hearings on it, and wider hearings where it came up.
| Number | Hearing | Committee | Held |
|---|---|---|---|
| Serial No. 115-15 | REGULATORY BARRIERS FACING WORKERS AND FAMILIES SAVING FOR RETIREMENT102 pages | Education and Workforce Committee | May 18, 2017 |
CRS reports 1
Congressional Research Service work that CRS links to this bill or the law it became, newest first.
Cite it 1
Products on other subjects that cite it, usually among other measures.
| Product | Title | Kind | Published |
|---|---|---|---|
| R44884 | Department of Labor’s 2016 Fiduciary Rule: Background and Issues | Report | Jul 3, 2017 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To provide for a 2-year delay in the effective date of a rule of the Department of Labor relating to the "Definition of the Term 'Fiduciary'; Conflict of Interest Rule-Retirement Investment Advice".
- Short Titles as Introduced
- Protecting American Families' Retirement Advice Act
Subjects
Assigned by the Library of Congress. Policy area: Labor and Employment.
Text 1
Each version as it was printed, newest first.
- Jan 6, 2017Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
