Protecting Americans’ Investments from Woke Policies Act
- Introduced Sep 5
- Committee Sep 5
- Passed House Sep 18
- Passed Senate Next
- To President Not yet
- Law Not yet
Where it stands
Passed House, Sep 18, 2024Next: Senate vote
769d ago Sep 19, 2024: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Final votes
House 217-206
2 roll calls on this bill
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2 companiesCompanies by sector
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Votes
House roll 427
On Passage
R 214-0 D 3-206
217-206
Passed
Procedural votes1
House roll 426
On Motion to Recommit
R 0-213 D 206-0
206-213
Failed
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No member of Congress traded these companies within 90 days of a vote
Summary
Roll back ESG To Increase Retirement Earnings Act or the RETIRE Act
Full summary2 paragraphs
This bill generally requires fiduciaries of employer-sponsored retirement plans to make investment decisions based only on pecuniary factors (i.e., factors that a fiduciary prudently determines are expected to have a material effect on the risk or return of an investment based on appropriate investment horizons consistent with the plan's policies and objectives).
The bill allows nonpecuniary factors to be considered in certain situations, such as when selecting investment options for certain participant-directed retirement plans or if the fiduciary is unable to distinguish between investment alternatives on the basis of pecuniary factors alone.
Library of Congress summary, Sep 26, 2023
Summary versions
- Reported to HouseSep 26, 2023
- Introduced in HouseSep 5, 2023
Actions
- SenateReceived in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.Sep 19, 2024
- HouseMotion to reconsider laid on the table Agreed to without objection.Sep 18, 2024
- HouseOn passage Passed by the Yeas and Nays: 217 - 206 (Roll no. 427). (text of amendment in the nature of a substitute: CR H5343-5345)Sep 18, 2024
- HouseOn motion to recommit Failed by the Yeas and Nays: 206 - 213 (Roll no. 426).Sep 18, 2024
- HouseConsidered as unfinished business. (consideration: CR H5370-5372)Sep 18, 2024
- HousePOSTPONED PROCEEDINGS - At the conclusion of debate on H.R. 5339, the Chair put the question on the motion to recommit and by voice vote announced that the noes had prevailed. Mr. Kildee demanded the yeas and nays and the Chair postponed further proceedings until a time to be announced.Sep 18, 2024
- HouseThe previous question on the motion to recommit was ordered pursuant to clause 2(b) of rule XIX.Sep 18, 2024
- HouseMr. Kildee moved to recommit to the Committee on Education and the Workforce. (text: CR H5349-5350)Sep 18, 2024
- HouseThe previous question was ordered pursuant to the rule.Sep 18, 2024
- HouseDEBATE - The House resumed debate on H.R. 5339.Sep 18, 2024
- HouseWORDS TAKEN DOWN - During the course of debate, exception was taken to certain words used and a demand was made to have the words taken down. Subsequently, the objection was withdrawn.Sep 18, 2024
- HouseDEBATE - The House proceeded with one hour of debate on H.R. 5339.Sep 18, 2024
All actions21
- HouseRule provides for consideration of H.R. 3724, H.R. 4790, H.R. 5179, H.R. 5339, H.R. 5717, H.R. 7909 and H.J. Res. 136. The resolution provides for consideration of H.R. 3724 and H.R. 5717 under a structured rule and H.R. 4790, H.R. 5179, H.R. 5339, H.R. 7909, and H.J. Res. 136 under a closed rule. The resolution provides for one hour of general debate and one motion to recommit on each measure.Sep 18, 2024
- HouseConsidered under the provisions of rule H. Res. 1455. (consideration: CR H5343-5350)Sep 18, 2024
- HouseRules Committee Resolution H. Res. 1455 Reported to House. Rule provides for consideration of H.R. 3724, H.R. 4790, H.R. 5179, H.R. 5339, H.R. 5717, H.R. 7909 and H.J. Res. 136. The resolution provides for consideration of H.R. 3724 and H.R. 5717 under a structured rule and H.R. 4790, H.R. 5179, H.R. 5339, H.R. 7909, and H.J. Res. 136 under a closed rule. The resolution provides for one hour of general debate and one motion to recommit on each measure.Sep 17, 2024
- HouseReported (Amended) by the Committee on Education and the Workforce. H. Rept. 118-225.Sep 26, 2023
- HousePlaced on the Union Calendar, Calendar No. 184.Sep 26, 2023
- HouseCommittee Consideration and Mark-up Session HeldSep 14, 2023
- HouseOrdered to be Reported (Amended) by the Yeas and Nays: 23 - 19.Sep 14, 2023
- HouseIntroduced in HouseSep 5, 2023
- HouseReferred to the House Committee on Education and the Workforce.Sep 5, 2023
Bill record
Text versions4
- Referred in SenateSep 19, 2024PDF: Referred in Senate
- Engrossed in HouseSep 18, 2024PDF: Engrossed in House
- Reported in HouseSep 26, 2023PDF: Reported in House
- Introduced in HouseSep 5, 2023PDF: Introduced in House
Committees2
- Senate Banking, Housing, and Urban Affairs CommitteeReferred To Sep 19, 2024
- House Education and Workforce CommitteeReported By Sep 26, 2023Markup By, Sep 14, 2023Referred To, Sep 5, 2023
Sponsor and cosponsors1 cosponsor
- Rep. Rick Allen (R-GA-12)Sponsor, Sep 5, 2023
- Erin Houchin (R-IN-9)Joined Sep 18, 2023
Amendments1
- H.Amdt. 1194Sep 18, 2024Pursuant to the provisions of H. Res. 1455, in lieu of the amendment in the nature of a substitute recommended by the Committee on Education and the Workforce now printed in the bill, an amendment in the nature of a substitute consisting of the text of Rules Committee Print 118-50 is considered adopted.On agreeing to the Rules amendment (A001) Agreed to without objection.
Cost estimates and reports2
- CBO: H.R. 5339, RETIRE ActSep 22, 2023As ordered reported by the House Committee on Education and the Workforce on September 14, 2023
- H. Rept. 118-225Committee report
Titles7
Short titles
- RETIRE ActShort Title(s) for portions of this bill from RFS (Referred to Senate) bill text
- Roll back ESG To Increase Retirement Earnings ActShort Title(s) for portions of this bill from RFS (Referred to Senate) bill text
- Protecting Americans’ Investments from Woke Policies ActShort Titles from RFS (Referred to Senate) bill text
- Providing Complete Information to Retirement Investors ActShort Title(s) for portions of this bill from RFS (Referred to Senate) bill text
- Retirement Proxy Protection ActShort Title(s) for portions of this bill from RFS (Referred to Senate) bill text
- No Discrimination in My Benefits ActShort Title(s) for portions of this bill from RFS (Referred to Senate) bill text
Official titles
- 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.Official Title as Introduced
Subjects4
Policy area
Legislative subjects
Business ethicsEmployee benefits and pensionsFinancial services and investments
Related bills3
- H.R. 4237 118th, Related bill Ensuring Sound Guidance Act
- S. 2282 118th, Related bill Ensuring Sound Guidance Act
- H.Res. 1455 118th, Related bill, Procedurally related Providing for consideration of the bill (H.R. 3724) to amend the Higher Education Act of 1965 to prohibit recognized accrediting agencies and associations from requiring, encouraging, or coercing institutions of higher education to meet any political litmus test or violate any right protected by the Constitution as a condition of accreditation; providing for consideration of the bill (H.R. 4790) to amend the Federal securities laws with respect to the materiality of disclosure requirements, to establish the Public Company Advisory Committee, and for other purposes; providing for consideration of the bill (H.R. 5179) to require the maintenance of the country of origin markings for imported goods produced in the West Bank or Gaza, and for other purposes; providing for consideration of the bill (H.R. 5339) 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; providing for consideration of the bill (H.R. 5717) to provide that sanctuary jurisdictions that provide benefits to aliens who are present in the United States without lawful status under the immigration laws are ineligible for Federal funds intended to benefit such aliens; providing for consideration of the bill (H.R. 7909) to amend the Immigration and Nationality Act to provide that aliens who have been convicted of or who have committed sex offenses or domestic violence are inadmissible and deportable; and providing for consideration of the joint resolution (H.J. Res. 136) providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Environmental Protection Agency relating to "Multi-Pollutant Emissions Standards for Model Years 2027 and Later Light-Duty and Medium-Duty Vehicles".
Official record from Congress.gov, the House Clerk and the Senate; lobbying from Lobbying Disclosure Act filings. Updated Oct 27, 2026.