A bill to amend title I of the Employee Retirement Income Security Act of 1974 to clarify treatment of investment managers under such title.
Public Law 105-72 · S. 1227 · 105th Congress · began in the Senate
Signed by Bill Clinton (D) on Nov 10, 1997 · Labor and Employment
Sponsor: Sen. Jim Jeffords (R-VT)
Cosponsors (7): Sen. Alfonse D’Amato, Sen. Paul Sarbanes,
Passage votes
- HouseVoice vote
- SenateUnanimous consent
Data notes
The final version of the law, as each chamber passed it. A chamber that passed it by voice vote or unanimous consent has no count. “Method not stated” means the record does not say how the chamber voted. Where the record has a member-by-member vote, the “Who voted for it” section shows who voted yea.
Summary
The Congressional Research Service’s plain-language summary of what the law does.
Amends the Employee Retirement Income Security Act of 1974 (ERISA) to provide that investment managers under ERISA shall include fiduciaries registered solely under State law only if Federal registration is prohibited under the Investment Advisors Act of 1940.
Treats a fiduciary as meeting certain ERISA filing requirements if the information is available to the Secretary of Labor from a centralized electronic or other record-keeping database.
Committees
The record shows no committee referral for this bill.
Data notes
A committee links to its page only where it exists in the current Congress; older and renamed committees are named without a link.
Timeline
From introduction to signing, newest first: the committees, the floor and the president. 8 actions.
- Nov 10, 1997Became lawBecame law · Became Public Law No: 105-72.
- Became lawBecame law · Signed by President.
- Oct 31, 1997PresidentPresident · Presented to President.
- Oct 28, 1997FloorFloor · Motion to reconsider laid on the table Agreed to without objection.
- FloorFloor · On motion to suspend the rules and pass the bill Agreed to by voice vote.
- FloorFloor · Mr. Fawell moved to suspend the rules and pass the bill.
- Sep 26, 1997FloorFloor · Introduced in the Senate, read twice, considered, read the third time, and passed without amendment by Unanimous Consent.
- IntroducedIntroduced · Introduced in the Senate
Data notes
Shows the introduction, each committee and subcommittee step the source dates (referral, hearings, markup, report, discharge), and the floor, conference, presidential and became-law steps. Calendar placements, messages between the chambers, amendments and committee report numbers are not shown for laws before the 108th Congress. Two entries the source lists twice are shown once.
Official record
The bill’s full text and every action, including introduction and committee steps, are on Congress.gov. Data through Oct 7, 2026.