H.R. 3045: Retirement Income Protection Act of 2011

112th Congress · introduced 2011-09-23 · Finance and Financial Sector · Latest: Referred to the Subcommittee on Health, Employment, Labor, and Pensions.

federal

Follow this bill, step by step

Where it came from: introduced 2011-09-23 · official record
Who proposed it: Rep. Canseco, Francisco "Quico" [R-TX-23] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Referred to the Subcommittee on Health, Employment, Labor, and Pensions. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Retirement Income Protection Act of 2011

Plain summary

Retirement Income Protection Act of 2011 - Amends the Employee Retirement Income Security Act of 1974 (ERISA) to declare that no person shall be considered a fiduciary to an employee benefit plan (special entity) by reason of that person's performing any service, act, or duty as a swap dealer, major swap participant, security-based swap dealer, or major security-based swap participant with respect to such entity. Amends the Commodity Exchange Act (CEA) and the Securities Exchange Act of 1934 to redefine "special entity" to exclude from its meaning as well as from certain business conduct standards: (1) employee benefit plans, and (2) any collective investment vehicle in which one or more special entities invest. Declares that no swap dealer shall be treated as an advisor to a Special Entity (and thus subject to specified duties and restrictions related to fraudulent, deceptive, or manipulative behavior) if: (1) the Special Entity represents in writing that it will not rely on recommendations of the swap dealer, but will rely on advice from an independent representative; and (2) the swap dealer discloses to the Special Entity that it is not undertaking to act in the Special Entity 's best interests. Declares further that no swap dealer shall be considered to act as an advisor to a Special Entity solely by reason of providing information to an independent representative of a Special Entity. Prescribes criteria for considering a representative of a Special Entity to be independent of a swap dealer.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Retirement Income Protection Act of 2011

Source: Congressional Research Service summary (Introduced in House)

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The strongest published arguments

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Canseco, Francisco "Quico" [R-TX-23] · 1 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (1)

Securities: Financial investments that can be bought and sold, such as stocks and bonds.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in House)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-112hr3045.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/112/hr>

Record fed-us-cong112-hr3045 · catalog fed-us-congress-bills-cong112 · updated 2026-11-15 by psicol fed-bills-cong112