Hearing on Economically Targeted Investments: Hearing Before the Subcommittee on Employer-Employee Relations of the Committee on Economic and Educational Opportunities, House of Representatives, One Hundred Fourth Congress, First Session, Hearing Held in Washington, DC, June 15, 1995, Volume 4 |
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Results 1-5 of 16
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... OWENS , New York THOMAS C. SAWYER , Ohio DONALD M. PAYNE , New Jersey PATSY T. MINK , Hawaii ROBERT E. ANDREWS , New Jersey JACK REED , Rhode Island TIM ROEMER , Indiana ELIOT L. ENGEL , New York XAVIER BECERRA , California ROBERT C ...
... OWENS , New York THOMAS C. SAWYER , Ohio DONALD M. PAYNE , New Jersey PATSY T. MINK , Hawaii ROBERT E. ANDREWS , New Jersey JACK REED , Rhode Island TIM ROEMER , Indiana ELIOT L. ENGEL , New York XAVIER BECERRA , California ROBERT C ...
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... Owens , Hon . Major R. , a Representative in Congress from the State of New York , additional material submitted for the record by Additional material submitted for the record by Additional material submitted for the record by 200 117 7 ...
... Owens , Hon . Major R. , a Representative in Congress from the State of New York , additional material submitted for the record by Additional material submitted for the record by Additional material submitted for the record by 200 117 7 ...
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... Owens , Sawyer , and Payne . Staff present : David Frank , Professional Staff Member ; Russ Mueller , Professional Staff Member / Actuary ; Ed Gilroy , Profes- sional Staff Member ; Bethany Kreilkamp , Staff Assistant ; Richard Huberman ...
... Owens , Sawyer , and Payne . Staff present : David Frank , Professional Staff Member ; Russ Mueller , Professional Staff Member / Actuary ; Ed Gilroy , Profes- sional Staff Member ; Bethany Kreilkamp , Staff Assistant ; Richard Huberman ...
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... OWENS . Mr. Chairman , a clarification . Chairman FAWELL . Yes . Mr. OWENS . Are you saying Mr. Saxton will not answer ques- tions ? Chairman FAWELL . Well , he will be here for a while , yes . Mr. OWENS . Can we question him before he ...
... OWENS . Mr. Chairman , a clarification . Chairman FAWELL . Yes . Mr. OWENS . Are you saying Mr. Saxton will not answer ques- tions ? Chairman FAWELL . Well , he will be here for a while , yes . Mr. OWENS . Can we question him before he ...
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... OWENS . Mr. Chairman . Chairman FAWELL . Yes . Mr. OWENS . Could we also get some water , please ? Chairman FAWELL . We certainly shall . Now , we have a certain order here that we had planned on , and so at this point I would ask that ...
... OWENS . Mr. Chairman . Chairman FAWELL . Yes . Mr. OWENS . Could we also get some water , please ? Chairman FAWELL . We certainly shall . Now , we have a certain order here that we had planned on , and so at this point I would ask that ...
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Common terms and phrases
16 Berkeley Berg Berkeley Journal CalPERS capital markets Chairman FAWELL CIEBA Clinton Administration collateral benefits collateral economic benefits Committee CONGRESS THE LIBRARY consider Copyright by Berkeley corporate create Department of Labor Department's DOL's Drucker economically targeted investments employee benefit employee benefit plan Employment and Labor ERISA ERISA Advisory Council ERISA's fiduciary ETI clearinghouse exclusive benefit rule exclusive purpose exemption fiduciary standards housing interest Interpretive Bulletin 94-1 invest in ETIS investment decisions investment return investors issue Journal of Employment Labor Department Labor Law LIBRARY OF CONGRESS loans market rate million mortgage OWENS participants and beneficiaries Pension and Welfare pension funds pension investments pension plans pension trustees plan assets plan fiduciaries plan investments plan participants plan sponsor plan's portfolio private pension prohibited transaction projects prudent man rule published at 16 rate of return requirements retirement income risk Saxton social investing Willie Sutton Zelinsky
Popular passages
Page 223 - A fiduciary shall discharge his or her duties with respect to a plan solely in the interest of the participants and beneficiaries and, for exclusive purpose of: providing benefits to participants and their beneficiaries; and defraying reasonable expenses of administering the plan with the care, skill, prudence, and diligence under the circumstances then prevailing that a prudent person acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of a like character...
Page 233 - Office oversees the financial safety and soundness of the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) to ensure that they are adequately capitalized and operating safely.
Page 22 - Nothing contained in this title shall be interpreted to require any employer, employment agency, labor organization, or joint labor-management committee subject to this title to grant preferential treatment to any individual or to any group because of the race, color, religion, sex, or national origin...
Page 13 - ... with the care, skill, prudence, and diligence under the circumstances then prevailing that a prudent man acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of a like character and with like aims ; (C) by diversifying the investments of the plan so as to minimize the risk of large losses, unless under the circumstances it is clearly prudent not to do so...
Page 225 - In addition, the conferees recognize that some individual transactions between a plan and party-in-interest may provide substantial independent safeguards for the plan participants and beneficiaries and may provide substantial benefit to the community as a whole, so that the transaction should be allowed under a variance. For example, it is understood that the pension plan of a major corporation with its principal office in Dayton, Ohio, has become committed to invest in a joint venture that will...
Page 41 - ... tax abuse" aspects, because the transaction became binding before the conferees' decisions were announced, and because of the importance of the project to the entire community of Dayton. Ohio, that the Secretary of the Treasury and Secretary of Labor will grant a variance to the transaction for its whole term. Under the substitute, variances may be conditional or unconditional and may exempt a transaction from all or part of the prohibited transaction rules. In addition, variances may be for...
Page 13 - A fiduciary shall discharge his duties with respect to a plan solely in the interest of the participants and beneficiaries and for the exclusive purpose of • providing benefits to participants and their beneficiaries...
Page 54 - The primary purpose of benefiting employees or their beneficiaries must be maintained with respect to investments of the trust funds as well as with respect to other activities of the trust. This requirement, however, does not prevent others from also deriving some benefit from a transaction with the trust. For example, a sale of securities at a profit benefits the seller...
Page 19 - Thank you very much, Mr. Chairman. I appreciate very much the opportunity to appear before you in these hearings on the birth control pill.
Page 223 - ... the assets of a plan shall never inure to the benefit of any employer and shall be held for the exclusive purposes of providing benefits to participants in the plan and their beneficiaries and defraying reasonable expenses of administering the plan.