,i  #aah? ,,congress  #b;d ,session  ,h4
 ,r4 #gghj  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,m>* #ba1 #bjbd,mr4   
,murphy 7= himself1 ,mr4 ,kelly (       
,p5nsylvania1 ,ms4 ,t5ney1 & ,ms4 ,van  
,duyne7 introduc$ ! foll[+ bill2 :i* 0  
ref]r$ to ! ,committee on ,ways & ,means
  ,a ,,bill  ,to am5d ! ,int]nal ,rev5ue
 ,code ( #aihf to prohibit c]ta9        
retirem5t plans f mak+ inve/m5t         
decisions on ! basis ( factors o!r ?an  
f9ancial risk & return factors4  #a4    
,%ort title ,?is ,act may be cit$ z !   
,safegu>d+ ,inve/m5t ,options =         
,retirem5t ,act4  #b4 ,prohibition on   
c]ta9 retirem5t plans f mak+ inve/m5t   
decisions on ! basis ( factors o!r ?an  
f9ancial risk & return factors  7a7 ,9  
g5]al ,section #dja7;a7 ( ! ,int]nal    
,rev5ue ,code ( #aihf is am5d$ by ins]t+
 aft] p>agraph 7#ci7 ! foll[+ new       
p>agraph3  7#dj7 ,prohibition on        
consid]ation ( factors o!r ?an f9ancial 
risk & return factors ,= purposes ( ?is 
subsection1 ! t]m exclusive b5efit %all 

include a requirem5t t ! corpus & income
 ( ! tru/ are inve/$ exclusively on !   
basis ( f9ancial risk & return factors4 
4  7b7 ,application to annuity contracts
 ,section #djc7;b77#a7 ( su* ,code is   
am5d$ by /rik+ & at ! end ( subp>agraph 
7,d71 by add+ & at ! end ( subp>agraph  
7,e71 & by ins]t+ aft] subp>agraph 7,e7 
! foll[+ new subp>agraph3  7,f7 ! corpus
 & income inve/$ pursuant to su*        
contract are inve/$ exclusively on !    
basis ( f9ancial risk & return factors1 
4  7c7 ,application to gov]nm5tal plans 
,section #deg7;e7 ( su* ,code is am5d$  
by add+ at ! end ! foll[+ new p>agraph3 
7#ai7 ,prohibition on gov]nm5tal plans  
consid]+ factors o!r ?an f9ancial risk &
 return factors ,9 ! case ( an employ]  
describ$ 9 subsection 7e77#a77;,a71 a   
plan %all n be treat$ z meet+ !         
requirem5ts ( ?is section unless !      
corpus & income ( ! plan are inve/$     
exclusively on ! basis ( f9ancial risk &
 return factors4  4  7d7 ,adm9i/ration  
by ,treasury ,sections #dja7;a77#dj71   

#djc7;b77#a77;,f71 & #deg7;e77#ai7 ( !  
,int]nal ,rev5ue ,code ( #aihf 7z am5d$ 
by ?is section7 %all be adm9i/]$        
exclusively by ! ,secret>y ( ! ,treasury
 or ! ,secret>y's delegate4  7e7        
,effective date ,! am5dm5ts made by ?is 
section %all apply to plan ye>s beg9n+  
aft] ! date ( ! enactm5t ( ?is ,act4