Balance the Scales Act
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Summary
The Balance the Scales Act amends the Employee Retirement Income Security Act of 1974 to require the Department of Labor to enter into written agreements before providing assistance to attorneys in civil actions against pension plan sponsors, and to notify affected employers and fiduciaries of such assistance. The bill mandates annual congressional reports detailing all such agreements, including copies, dates, descriptions of information shared, logs of communications and meetings, and explanations of consistency with pension plan promotion policy. The bill also adds a congressional finding that voluntary pension plan sponsorship is integral to employee retirement security.
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How your representatives voted
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