The Pension Protection Act of 2006

 

DETERMINATION OF FEASIBILITY OF APPLICATION OF COMPUTER MODEL INVESTMENT ADVICE PROGRAMS FOR INDIVIDUAL RETIREMENT AND SIMILAR PLANS-

Pension Protection Act of 2006
(A) SOLICITATION OF INFORMATION- As soon as practicable after the date of the enactment of this Act, the Secretary of Labor, in consultation with the Secretary of the Treasury, shall--
(i) solicit information as to the feasibility of the application of computer model investment advice programs for plans described in subparagraphs (B) through (F) (and so much of subparagraph (G) as relates to such subparagraphs) of section 4975(e)(1) of the Internal Revenue Code of 1986, including soliciting information from--
(I) at least the top 50 trustees of such plans, determined on the basis of assets held by such trustees, and
(II) other persons offering computer model investment advice programs based on nonproprietary products, and
(ii) shall on the basis of such information make the determination under subparagraph (B).
The information solicited by the Secretary of Labor under clause (i) from persons described in subclauses (I) and (II) of clause (i) shall include information on computer modeling capabilities of such persons with respect to the current year and preceding year, including such capabilities for investment accounts maintained by such persons.
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