Protecting Prudent Investment of Retirement Savings Act
- Introduced Apr 24
- Committee Apr 24
- Passed House Jan 15
- Passed Senate Next
- To President Not yet
- Law Not yet
Companies lobbying on this bill
2 companiesVotes
Procedural votes1
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Summary
Protecting Prudent Investment of Retirement Savings Act
Full summary6 paragraphs
This bill modifies the requirements for fiduciaries of employer-sponsored retirement plans.
First, the bill generally requires a plan fiduciary to make investment decisions based solely 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.
The bill also prohibits a plan fiduciary from discriminating when selecting, monitoring, and retaining any fiduciary, counsel, employee, or service provider of the plan.
The bill requires a plan fiduciary to act solely and prudently in accordance with the interests of the plan's participants and beneficiaries when exercising a shareholder right (e.g., voting of proxies). However, the fiduciary duty to manage shareholder rights does not require the voting of every proxy or the exercise of every shareholder right.
Finally, the bill requires a plan fiduciary to provide specified notices with respect to a pension plan that provides a participant or beneficiary the opportunity to select from designated investment alternatives.
Library of Congress summary, Dec 30, 2025
- Reported to HouseDec 30, 2025
Actions
- SenateReceived in the Senate and Read twice and referred to the Committee on Health, Education, Labor, and Pensions.Jan 26, 2026
- HouseMotion to reconsider laid on the table Agreed to without objection.Jan 15, 2026
- HouseOn passage Passed by the Yeas and Nays: 213 - 205 (Roll no. 31).Jan 15, 2026
- HouseOn motion to recommit Failed by the Yeas and Nays: 206 - 210 (Roll no. 30).Jan 15, 2026
- HouseThe previous question on the motion to recommit was ordered pursuant to clause 2(b) of rule XIX.Jan 15, 2026
- HouseMs. Kaptur moved to recommit to the Committee on Education and Workforce. (text: CR H905)Jan 15, 2026
- HouseThe previous question was ordered on the amendment and the bill pursuant to the rule.Jan 15, 2026
- HouseDEBATE - Pursuant to the provisions of H. Res. 988, the House proceeded with 10 minutes of debate on the Huizenga amendment No. 1.Jan 15, 2026
- HouseDEBATE - The House proceeded with one hour of debate on H.R. 2988.Jan 15, 2026
- HouseRule provides for consideration of H.R. 2988, H.R. 2262, H.R. 2270, H.R. 2312 and H.R. 4366. The resolution provides for consideration of H.R. 2988 under a structured rule, and H.R. 2262, H.R. 2270, H.R. 2312, and H.R. 4366 under a closed rule. The rule provides for one hour of general debate and one motion to recommit on each bill.Jan 15, 2026
- HouseConsidered under the provisions of rule H. Res. 988. (consideration: CR H897-907; text of amendment in the nature of a substitute: CR H897-899)Jan 15, 2026
- HouseRules Committee Resolution H. Res. 988 Reported to House. Rule provides for consideration of H.R. 2988, H.R. 2262, H.R. 2270, H.R. 2312 and H.R. 4366. The resolution provides for consideration of H.R. 2988 under a structured rule, and H.R. 2262, H.R. 2270, H.R. 2312, and H.R. 4366 under a closed rule. The rule provides for one hour of general debate and one motion to recommit on each bill.Jan 12, 2026
All actions18
- HouseReported (Amended) by the Committee on Education and Workforce. H. Rept. 119-421.Dec 30, 2025
- HousePlaced on the Union Calendar, Calendar No. 367.Dec 30, 2025
- HouseCommittee Consideration and Mark-up Session HeldJun 25, 2025
- HouseOrdered to be Reported (Amended) by the Yeas and Nays: 21 - 15.Jun 25, 2025
- HouseIntroduced in HouseApr 24, 2025
- HouseReferred to the House Committee on Education and Workforce.Apr 24, 2025
Bill record
Text versions4
- Referred in SenateJan 26, 2026PDF: Referred in Senate
- Engrossed in HouseJan 15, 2026PDF: Engrossed in House
- Reported in HouseDec 30, 2025PDF: Reported in House
- Introduced in HouseApr 24, 2025PDF: Introduced in House
Committees2
- Senate Health, Education, Labor, and Pensions CommitteeReferred To Jan 26, 2026
- House Education and Workforce CommitteeReported By Dec 30, 2025Markup By, Jun 25, 2025Referred To, Apr 24, 2025
Sponsor and cosponsors0 cosponsors
- Rep. Rick Allen (R-GA-12)Sponsor, Apr 24, 2025
Amendments2
- H.Amdt. 152Jan 15, 2026Amendment requires the Government Accountability Office to publish a study on brokerage accounts.On agreeing to the Huizenga amendment (A002) Agreed to by the Yeas and Nays: 395 - 22 (Roll no. 29).
- H.Amdt. 151Jan 15, 2026Pursuant to the provisions of H. Res. 988, the amendment in the nature of a substitute recommended by the Committee on Education and Workforce is considered adopted.On agreeing to the Rules amendment (A001) Agreed to without objection.
Cost estimates and reports2
- CBO: H.R. 2988, Protecting Prudent Investment of Retirement Savings ActSep 29, 2025As ordered reported by the House Committee on Education and Workforce on June 25, 2025
- H. Rept. 119-421Committee report
Titles6
- Protecting Prudent Investment of Retirement Savings ActShort Titles from RFS (Referred to Senate) bill text
- Increase Retirement Earnings 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
- Retirement Proxy Protection ActShort Title(s) for portions of this bill 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
- 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 from EH (Engrossed in House) bill text
Subjects4
Related bills3
- S. 3083 119th, Related bill Providing Complete Information to Retirement Investors Act
- H.Res. 988 119th, Related bill, Procedurally related Providing for consideration of the bill (H.R. 2988) 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. 2262) to amend the Fair Labor Standards Act of 1938 to exclude certain activities from hours worked, and for other purposes; providing for consideration of the bill (H.R. 2270) to amend the Fair Labor Standards Act of 1938 to exclude child and dependent care services and payments from the rate used to compute overtime compensation; providing for consideration of the bill (H.R. 2312) to amend the Fair Labor Standards Act of 1938 to revise the definition of the term ''tipped employee'', and for other purposes; and providing for consideration of the bill (H.R. 4366) to clarify the treatment of 2 or more employers as joint employers under the National Labor Relations Act and the Fair Labor Standards Act of 1938.
- H.R. 1996 119th, Related bill Retirement Proxy Protection Act
Official record from Congress.gov, the House Clerk and the Senate; lobbying from Lobbying Disclosure Act filings. Updated Oct 28, 2026.