Section 1 Short title
This Act may be cited as the “No Discrimination in My Benefits Act”.
No Discrimination in My Benefits Act
A BILL
To amend the Employee Retirement Income Security Act of 1974 to establish that fiduciaries must act with prudence and loyalty when selecting service providers for pension plans.
Sec. 2 Service provider selection
Section 404(a)(1) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1104(a)(1)) is amended—
in subparagraph (C), by striking “and”;
in subparagraph (D), by striking the period at the end and inserting “; and”; and
by adding at the end the following new subparagraph:
“(E) by selecting, monitoring, and retaining any fiduciary, counsel, employee, or service provider of the plan—
“(i) in accordance with subparagraphs (A) and (B); and
“(ii) without regard to race, color, religion, sex, or national origin.”