Number: RS22514
Title: Investment Advice and the Pension Protection Act of 2006
Authors: Jon O. Shimabukuro, American Law Division 
Abstract: This report examines Section 601 of the Pension Protection Act of 2006, which amends the Employee Retirement Income Security Act to allow for the provision of investment advice without fear of fiduciary liability. Prior to the enactment of Section 601, ERISA's prohibited transaction restrictions operated to discourage pension plan fiduciaries from providing investment advice to plan participants and beneficiaries. As amended, ERISA would now seem to allow for the provision of investment advice so long as such advice is provided pursuant to an eligible investment advice arrangement in compliance with the statute.
Pages: 6
Date: March 11, 2008