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Requires retirement-plan fiduciaries to prioritize financial (pecuniary) factors when selecting investments, service providers, or voting proxies, and limits the use of non‑pecuniary (e.g., ESG or social) goals except in narrowly documented cases. It adds new rules for proxy voting (records, monitoring, safe harbors) and new participant disclosures and acknowledgements before using brokerage windows, including a standardized projected‑balance graph. Proxy rules take effect for votes on/after Jan 1, 2026; brokerage‑window disclosures take effect Jan 1, 2027.
Introduced April 24, 2025 by Rick W. Allen · Last progress 1 month ago
Received in the Senate and Read twice and referred to the Committee on Health, Education, Labor, and Pensions.