Truth in Automobile Insurance Rates Act of 2005 - Amends the Employee Retirement Income Security Act of 1974 (ERISA) to require that certain information relating to automobile insurance coverage be submitted to the Federal Trade Commission (FTC) by persons: (1) who are plan administrators of employee pension benefit plans or provide administrative services to such plans; and (2) who also provide automobile insurance coverage or provide persons offering such coverage identifying information relating to plan participants or beneficiaries.
[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3515 Introduced in House (IH)]
109th CONGRESS
1st Session
H. R. 3515
To amend title I of the Employee Retirement Income Security Act of 1974
to require persons who are plan administrators of employee pension
benefit plans or provide administrative services to such plans, and who
also provide automobile insurance coverage or provide persons offering
such coverage identifying information relating to plan participants or
beneficiaries, to submit to the Federal Trade Commission certain
information relating to such automobile insurance coverage.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
July 28, 2005
Mr. Andrews introduced the following bill; which was referred to the
Committee on Education and the Workforce
_______________________________________________________________________
A BILL
To amend title I of the Employee Retirement Income Security Act of 1974
to require persons who are plan administrators of employee pension
benefit plans or provide administrative services to such plans, and who
also provide automobile insurance coverage or provide persons offering
such coverage identifying information relating to plan participants or
beneficiaries, to submit to the Federal Trade Commission certain
information relating to such automobile insurance coverage.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Truth in Automobile Insurance Rates
Act of 2005''.
SEC. 2. INFORMATION REQUIRED TO BE SUBMITTED TO THE FEDERAL TRADE
COMMISSION RELATING TO AUTOMOBILE INSURANCE COVERAGE.
(a) In General.--Section 101 of the Employee Retirement Income
Security Act of 1974 (29 U.S.C. 1021) is amended--
(1) by redesignating subsection (j) as subsection (k); and
(2) by inserting after subsection (i) the following new
subsection:
``(j) Submission to the Federal Trade Commission of Certain
Information Relating to Automobile Insurance Coverage.--
``(1) In general.--Any person who is, during any calendar
year, the plan administrator of an employee pension benefit
plan or provides administrative services to such a plan and
who--
``(A) also offers automobile insurance coverage
during such year in a State in which a participant or
beneficiary under the plan resides, or
``(B) provides during such calendar year to any
person offering automobile insurance coverage in such
state any identifying information relating to any
participant or beneficiary under the plan,
shall provide annually to the Federal Trade Commission the
information described in paragraph (2). Such person shall
certify annually to the Secretary compliance with the
requirements of this subsection.
``(2) Required information.--
``(A) In general.--The information described in
this paragraph consists of the following:
``(i) The total amount collected in the
year reported on, by each person specified in
subparagraph (B), in insurance premiums on
automobile insurance from automobile insurance
policyholders in the State.
``(ii) The total amount that each person
specified in subparagraph (B) paid out in the
year reported on in automobile insurance claims
in response to the claims filed by automobile
insurance policyholders in such State.
``(iii) The total amount added in the year
reported on, by each person specified in
subparagraph (B), to such person's reserve
balance for automobile insurance claims filed
by automobile insurance policyholders in such
State.
``(B) Specified persons.--The persons specified in
this subparagraph are the person described in paragraph
(1), each person provided identifying information (as
described in paragraph (1)(B)) by the person described
in paragraph (1), and each person related to any of the
foregoing.
``(3) Related person.--For purposes of this subsection--
``(A) a person is `related' to any other person if
such persons are under common control, and
``(B) the determination of whether two or more
persons are under `common control' shall be made under
regulations of the Secretary which are consistent and
coextensive with regulations prescribed for similar
purposes by the Secretary of the Treasury under
subsections (b) and (c) of section 414 of the Internal
Revenue Code of 1986.''.
SEC. 3. EFFECTIVE DATE.
The amendments made by this Act shall apply with respect to plan
years beginning on or after January 1, 2007.
<all>
Introduced in House
Introduced in House
Referred to the House Committee on Education and the Workforce.
Referred to the Subcommittee on Employer-Employee Relations.
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