Legislative Oversight

Stable identifiers

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  "bill_number": 2988,
  "sponsor_bioguide_id": null
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Canonical URL: https://www.congress.gov/bill/119th-congress/house-bill/2988

Official text excerpt

119 HR 2988 IH: Protecting Prudent Investment of Retirement Savings Act 
 U.S. House of Representatives 
 2025-04-24 
 text/xml 
 EN 
 Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. 
 
 
 
 I 119th CONGRESS 1st Session H. R. 2988 IN THE HOUSE OF REPRESENTATIVES April 24, 2025 Mr. Allen introduced the following bill; which was referred to the Committee on Education and Workforce A BILL To amend the Employee Retirement Income Security Act of 1974 to specify requirements concerning the consideration of pecuniary and non-pecuniary factors, and for other purposes. 
 1. Short title; table of contents 
 (a) Short title This Act may be cited as the Protecting Prudent Investment of Retirement Savings Act . (b) Table of contents The table of contents for this Act is as follows: 
 
 Sec. 1. Short title; table of contents. 
 Division A—Increase Retirement Earnings 
 Sec. 1001. Short title. 
 Sec. 1002. Limitation on consideration of non-pecuniary factors by fiduciaries. 
 Division B—No Discrimination in My Benefits 
 Sec. 2001. Short title. 
 Sec. 2002. Service provider selection. 
 Division C—Retirement Proxy Protection 
 Sec. 3001. Short title. 
 Sec. 3002. Exercise of shareholder rights. 
 Division D—Providing Complete Information to Retirement Investors 
 Sec. 4001. Short title. 
 Sec. 4002. Brokerage window disclosures. 
 A Increase Retirement Earnings 
 1001. Short title This division may be cited as the Increase Retirement Earnings Act . 1002. Limitation on consideration of non-pecuniary factors by fiduciaries (a) In general Section 404(a) of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1104(a) ) is amended by adding at the end the following: 
 
 (3) Interest based on pecuniary factors 
 (A) In general For purposes of paragraph (1), a fiduciary shall be considered to act solely in the interest of the participants and beneficiaries of the plan with respect to an i…

Raw official payload (JSONB)

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Contributing member votes

Citations

• Congress.gov