,,ii  #aai? ,,congress  #b;d ,session   
,s4 #dcfj  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,april #ba1 #bjbf,mr4  
,banks 7= himself1 ,mr4 ,cassidy1 ,mr4  
,tub]ville1 & ,mr4 ,scott ( ,s\?        
,c>ol9a7 introduc$ ! foll[+ bill2 :i* 0 
read twice & ref]r$ to ! ,committee on  
,heal?1 ,education1 ,labor1 & ,p5sions  
,a ,,bill  ,to am5d ! ,employee         
,retirem5t ,income ,security ,act (     
#aigd to require t ! ,employee ,b5efit  
,security ,adm9i/ration make annual     
reports to ,congress on inve/igations   
relat+ to en=cem5t & on adv]se int]e/   
agreem5ts1 & = o!r purposes4  #a4 ,%ort 
title ,?is ,act may be cit$ z !         
,inve/igation ,/atus & ,gov]nance =     
,hone/ ,transp>5cy ,act or ! ,,insight  
,act4  #b4 ,annual report on            
inve/igations ,section #ejd ( !         
,employee ,retirem5t ,income ,security  
,act ( #aigd 7#bi ,u4,s4,c4 #aacd7 is   
am5d$ by add+ at ! end ! foll[+3  7f7   
,report on inve/igations  7#a7 ,9 g5]al 
,n lat] ?an ,decemb] #ca ( ea* ye>      

foll[+ ! date ( enactm5t ( ?is          
subsection1 ! ,secret>y %all submit to  
,congress a report on ! /atus ( cases 9 
en=cem5t /atus1 includ+ inve/igations t 
are active1 or 9 relation to :i* !      
,secret>y ass]t$ inve/igative au?ority  
or engag$ 9 t>get$ compliance monitor+1 
"u subsection 7a71 dur+ ! prec$+ fiscal 
ye>4  7#b7 ,cont5ts  7,a7 ,9 g5]al ,!   
report requir$ "u p>agraph 7#a7 %all    
include ! foll[+ in=mation 9 relation to
 ea* inve/igation "u subsection 7a73 7i7
 ,! regional or di/rict (fice1 or any   
o!r (fice1 ( ! ,employee ,b5efit        
,security ,adm9i/ration t op5$ !        
inve/igation4  7ii7 ,! date !           
inve/igation 0 op5$4  7iii7 ,! date on  
:i* ! ,secret>y fir/ reque/$ docum5ts f 
! t>get ( ! inve/igation4  7iv7 ,9      
relation to ! date on :i* ! ,secret>y   
fir/ reque/$ docum5ts f ! t>get ( !     
inve/igation 9 relation to su*          
inve/igation-- 7,i7 :e!r ! inve/igation 
0 conclud$ )9 ! #cf-mon? p]iod beg9n+ on
 ! date ( su* reque/2 &  7,,ii7 if su*  

inve/igation has n be5 conclud$ by ! end
 ( su* #cf-mon? p]iod-- 7aa7 in=mation  
on :y su* inve/igation has n be5        
conclud$2 &  7bb7 ! e/imat$ date (      
conclusion4  7,b7 ,exclud$ in=mation ,! 
report %all n include any in=mation t   
id5tifies any private p>ty to !         
inve/igation1 includ+ any plan1 plan    
sponsor1 fiduci>y1 s]vice provid]1      
employee1 or p>ticipant or b5efici>y4   
7,c7 ,conclusion ( inve/igations ,= !   
purposes ( p>agraph 7,a77iv71 an        
inve/igation %all n be consid]$ conclud$
 until ! lat] (-- 7i7 ! date on :i* !   
,secret>y ceases to ass]t inve/igative  
au?ority 9 relation to su* inve/igation2
 or  7ii7 if applicable1 t]m9ates any   
t>get$ compliance monitor+1  9 ea* case 
z memorializ$ 9 a clos+ lett] deliv]$ to
 ! t>get ( ! inve/igation or ! p>ty     
subject to compliance monitor+4 ,9 !    
ev5t t ! issues or topics "u            
inve/igation *ange dur+ ! c\rse ( an    
inve/igation1 ! ,secret>y's cont9u+     
ass]tion ( au?ority "u ?is section %all 

be treat$ z a cont9u+ inve/igation & n z
 a sep>ate inve/igation4  4  #c4 ,report
 on adv]se int]e/ agreem5ts  7a7 ,9     
g5]al ,section #ejd ( ! ,employee       
,retirem5t ,income ,security ,act (     
#aigd 7#bi ,u4,s4,c4 #aacd71 z am5d$ by 
section #b1 is fur!r am5d$ by add+ at ! 
end ! foll[+3  7g7 ,collaboration )     
pla9tiff attorneys  7#a7 ,9 g5]al ,9 !  
ev5t t ! ,secret>y provides adv]se      
assi/ance to an individual1 prior to    
provid+ ! adv]se assi/ance1 ! ,secret>y 
%all-- 7,a7 ent] into a writt5 agreem5t 
) ! individual t details ! nature &     
scope ( su* assi/ance2 &  7,b7 provide a
 copy ( su* agreem5t to any employ]1    
plan sponsor1 or fiduci>y t may be      
directly & adv]sely impact$ by su*      
assi/ance4  7#b7 ,adv]se assi/ance def9$
 ,= purposes ( ?is subsection1 ! t]m    
adv]se assi/ance means assi/ance or     
advice1 includ+ ! disclosure ( in=mation
 z describ$ 9 subsection 7a71 t is      
direct$ specifically t[>d an attorney = 
pot5tial use 9 a civil action "u section

 #ejb7;a74  7#c7 ,report  7,a7 ,9 g5]al 
,n lat] ?an #fj days aft] ! date (      
enactm5t ( ?is subsection1 & by ,decemb]
 #ca ( ea* ye> t beg9s aft] su* date1 ! 
,secret>y %all submit to ,congress a    
report conta9+ in=mation on all         
agreem5ts to provide adv]se assi/ance 9 
effect = ! prec$+ fiscal ye>1 includ+1 9
 relation to ea* su* agreem5t-- 7i7 a   
copy ( ! agreem5t1 ) any in=mation      
describ$ 9 subp>agraph 7,b77ii7 r$act$2 
7ii7 ! date ! agreem5t 0 ent]$ into2    
7iii7 a detail$ description ( ! nature &
 scope ( ! assi/ance provid$ dur+ !     
fiscal ye>1 includ+-- 7,i7 ! in=mation  
%>$1 includ+ ! s\rce1 type1 & am\nt ( ! 
in=mation1 & ! date on :i* su* in=mation
 0 %>$2  7,,ii7 a log ( v]bal           
communications1 includ+-- 7aa7 ! date ( 
ea* communication2  7bb7 ! p>ties engag$
 9 su* communication2  7cc7 ! mode (    
communication2 &  7dd7 ! nature ( any   
in=mation %>$2 &  7,,iii7 a log (       
meet+s1 includ+-- 7aa7 ! date ( ea*     
meet+2  7bb7 ! p>ties pres5t at ! meet+2

  7cc7 mode ( ! meet+2 &  7dd7 ! purpose
 ( su* meet+ & ! nature ( any in=mation 
%>$2 &  7iv7 an explanation ( h[ su*    
agreem5t is consi/5t ) ! public policy (
 promot+ ! volunt>y sponsor%ip (        
employee b5efit plans subject to ?is    
,act4  7,b7 ,id5tify+ in=mation ,!      
report describ$ "u p>agraph 7,a7-- 7i7  
%all id5tify ! p>ties to ea* agreem5t2 &
  7ii7 may n include any in=mation t may
 be us$ to id5tify any o!r p]son        
7includ+ an employ]1 plan sponsor1 plan 
fiduci>y1 s]vice provid]1 or any o!r    
pot5tial def5dant74  4  7b7 ,effective  
date  7#a7 ,9 g5]al ,subject to p>agraph
 7#b71 ! am5dm5ts made by ?is section   
%all apply to any adv]se assi/ance      
provid$ on or aft] ! date ( enactm5t (  
?is ,act4  7#b7 ,exi/+ agreem5ts ,= !   
purposes ( section #ejd7;g77#a7 ( !     
,employee ,retirem5t ,income ,security  
,act 7#bi ,u4,s4,c4 #aacd7;f77#a77 7z   
add$ by subsection 7a771 if1 n lat] ?an 
#fj days aft] ! date ( enactm5t ( ?is   
,act1 ! ,secret>y ( ,labor takes !      

actions requir$ 9 p>agraphs 7,a7 & 7,b7 
( su* section #ejd7;g77#a7 9 relation to
 an exi/+ arrangem5t to provide adv]se  
assi/ance1 ! ,secret>y %all be deem$ to 
h tak5 su* actions prior to provid+ su* 
adv]se assi/ance4  #d4 ,private p5sion  
plans z integral to ! cont9u$ well-be+ &
 security ( employees & _! dep5d5ts     
,section #b ( ! ,employee ,retirem5t    
,income ,security ,act ( #aigd 7#bi     
,u4,s4,c4 #ajja7 is am5d$ by add+ at !  
end ! foll[+3  7d7 ,congress f9ds t !   
retirem5t security ( millions (         
employees & _! dep5d5ts is directly     
impact$ by ! volunt>y sponsor%ip &      
ma9t5ance ( p5sion plans4 ,x is h]eby   
decl>$ to be a policy ( ?is ,act to     
promote1 enc\rage1 & facilitate !       
volunt>y e/abli%m5t & ma9t5ance (1 &    
contribution to1 su* plans4  4