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118th Congress > House > Vote 1144

Date: September 18, 2024

Result: 206-213 (Failed)

Clerk session vote number: 426

Sponsor: ALLEN, Rick W. (R-GA)

Bill number: HR5339

Question: On Motion to Recommit

Description: RETIRE Act

Bill summary:

Roll back ESG To Increase Retirement Earnings Act or the RETIRE Act

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.

Bill 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.; Roll back ESG To Increase Retirement Earnings Act; RETIRE Act; No Discrimination in My Benefits Act; Retirement Proxy Protection Act; Providing Complete Information to Retirement Investors Act; Retirement Proxy Protection Act; No Discrimination in My Benefits Act; RETIRE Act; Roll back ESG To Increase Retirement Earnings Act; Providing Complete Information to Retirement Investors Act

Links for more info on the vote: congress.gov

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Member Vote Map

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Vote Ideological Breakdown

This chart describes how members voted on the rollcall. Members are placed according to their NOMINATE ideological scores. A cutting line divides the vote into those expected to vote "Yea" and those expected to vote "Nay". The shaded heatmap reflects the expected probability of voting "Yea". You can select points or regions to subset the members listed above and below.

Votes

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Selected: of from including with NOMINATE scores within .