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119th Congress > House > Vote 389

Date: January 15, 2026

Result: 395-22 (Agreed to)

Clerk session vote number: 29

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

Bill number: HR2988

Question: On Agreeing to the Amendment

Description: Huizenga of Michigan Part A Amendment

Bill summary:

Protecting Prudent Investment of Retirement Savings Act

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.

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.; 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.; Increase Retirement Earnings Act; No Discrimination in My Benefits Act; Retirement Proxy Protection Act; Providing Complete Information to Retirement Investors Act; Increase Retirement Earnings Act; No Discrimination in My Benefits Act; Providing Complete Information to Retirement Investors Act; Retirement Proxy Protection Act; No Discrimination in My Benefits Act; Providing Complete Information to Retirement Investors Act; Retirement Proxy Protection Act; Increase Retirement Earnings Act; Increase Retirement Earnings Act; No Discrimination in My Benefits Act; Providing Complete Information to Retirement Investors Act; Retirement Proxy Protection 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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