PlainBillCongress, translated.Legislation. Context. Public interest.Committee on Labor and Human Resources. Committee consideration and Mark Up Session held.
Congressional Research Service
Version 00 · Introduced in Senate · Dec 20, 1995
Pension Audit Improvement Act of 1995 - Amends the Employee Retirement Income Security Act of 1974 (ERISA) to revise requirements with respect to the auditing of employee benefit plans. Repeals certain provisions for limited scope audits. Adds certain reporting and enforcement requirements for employee benefit plans. Requires certain notifications by plan administrators and accountants regarding: (1) irregularities that may have occurred with respect to plans; and (2) termination of an accountant's engagement for auditing services. Sets forth civil penalties for failures to provide the Secretary of Labor with such notifications. Sets forth additional requirements for qualified public accountants. Revises provisions relating to certain fiduciary penalties under ERISA (and similar provisions under the Internal Revenue Code). Modifies a prohibition of assignment or alienation. Makes discretionary: (1) the imposition and the amount of civil penalties for breach of fiduciary responsibility; and (2) certain provisions relating to an applicable recovery amount.
People & committees
Sen. Simon, Paul [D-IL] · D–IL
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Committee on Labor and Human Resources. Committee consideration and Mark Up Session held.
Read twice and referred to the Committee on Labor and Human Resources.
Sponsor introductory remarks on measure. (CR S19008-19009)
Introduced in Senate
Primary sources
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Source last updated: Aug 21, 2025. Consult Congress.gov for the current record.
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