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CT HB07161

Bill

Official Source

Status

Passed

6/27/2017

Primary Sponsor

Banking Committee

Click for details

Origin

House of Representatives

2017 General Assembly

AI Summary

  • Requires administrators of retirement plans offered by political subdivisions to disclose fee ratios and net returns for each investment to plan participants, effective January 1, 2019
  • Mandates disclosure of fees paid to any person providing investment advice to retirement plan participants, whether directly or through publications and writings
  • Requires disclosures at initial enrollment and at least annually thereafter
  • Applies to Section 403(b) retirement plans not administered through the State Comptroller
  • Effective date: October 1, 2017

Legislative Description

An Act Requiring Administrators Of Certain Retirement Plans To Disclose Conflicts Of Interest.

Last Action

Signed by the Governor

6/27/2017

Committee Referrals

Banking2/23/2017

Full Bill Text

No bill text available