Labels:book | reckoner | sky OCR: 11 ERISA'S LEGISLATIVE HISTORY FULLY SUPPORTS OF THE SECOND CIRCUIT'S INTERPRELATION s40l(b){2){B The legislative history of $40l{b}{2} clearly reflects Congres- sional intent to apply ERISA's fiduciary rules to insurance com- panies where the investment of pian assets in insurance com- panies will result in variable investment return The legislative history also indicates that Congress WAS aware that its decision upset accepted insurance company practices, and that Congress included measures within the statute designed ameli liorate the adverse impact af ERISA uo the way insurance companies had previously done business. The Conference Report Demonstrates Congress sin. tention to Carve Out Narrow Exception for Guaranteed Benefits The provides legislative history $401(b){2)(B), though relat ...
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