Sec. 204. SENSE OF CONGRESS REGARDING CERTAIN ERISA PLAN INVESTMENTS
178 words·~1 min read·
/statute-compilations/comps-9362/sec-204A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
## SEC. 204 SENSE OF CONGRESS REGARDING CERTAIN ERISA PLAN INVESTMENTS It is the sense of Congress that a fiduciary of an employee benefit plan, as defined in section 3(3) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1002(3)), may divest plan assets from, or avoid investing plan assets in, any person the fiduciary determines engages in investment activities in Iran described in section 202(c) of this Act, without breaching the responsibilities, obligations, or duties imposed upon the fiduciary by subparagraph
(A)or
(B)of section 404(a)(1) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1104(a)(1)), if— ####
(1)the fiduciary makes such determination using credible information that is available to the public; and ####
(2)the fiduciary prudently determines that the result of such divestment or avoidance of investment would not be expected to provide the employee benefit plan with— #####
(A)a lower rate of return than alternative investments with commensurate degrees of risk; or #####
(B)a higher degree of risk than alternative investments with commensurate rates of return.
Connectionstraces to 2
Traces to 2 documents
Citation graph
cites case law
Cites 2Cited by 0 across 0 sources