General Assembly Proposed Bill No. 5391
January Session, 2013 LCO No. 1171
Referred to Committee on BANKS
Introduced by:
REP. LESSER, 100th Dist.
General Assembly
Proposed Bill No. 5391
January Session, 2013
LCO No. 1171
Referred to Committee on BANKS
Introduced by:
REP. LESSER, 100th Dist.
AN ACT CAPPING FEES FOR INDIVIDUAL RETIREMENT ACCOUNTS.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
That the general statutes be amended to cap expense ratio costs, including, but not limited to, administrative, investment management and marketing fees, at fifty per cent for all individual retirement accounts, including, but not limited to, a retirement plan described in Sections 401(k), 403(b) and 457 of the Internal Revenue Code of 1986, or any subsequent corresponding internal revenue code of the United States.
Statement of Purpose:
To help working families in Connecticut save more for retirement by reducing the excessive fees charged on individual retirement accounts.