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H.R. 2988119th CongressPassed one chamberLatest action Jan 26, 2026Decoded by AI · checked against the record
Official title: Protecting Prudent Investment of Retirement Savings Act
Introduced:
Read the official bill on Congress.govThe plain-language version leads. The official text is always the reference.
The bill requires retirement plan fiduciaries to base investment decisions mainly on financial factors, not ESG or similar goals.
40-second read · 4 questions answered below
This bill requires that 401(k) and similar retirement plan investment decisions be based mainly on financial factors like risk and return, not environmental, social, or governance goals, unless a fiduciary documents that financial factors alone weren't sufficient. It also bars selecting investment managers or advisors based on race, sex, religion, or similar traits, sets rules for how plans vote on shareholder matters, and requires new risk warnings for people using self-directed "brokerage window" investment options.
This affects people with employer-sponsored 401(k)-style retirement plans, the companies managing those plans, and financial advisors or firms making investment decisions for them.
The changes would set stricter legal standards for retirement plan fiduciaries, limiting how non-financial factors and shareholder votes can be used, while requiring more disclosure for self-directed investment accounts.
AI-drafted summary. Verify it against the official text before you act on it. Read the official bill on Congress.gov
Right now: it passed the House, and the official record shows nothing new since. If the Senate changes it, it goes back to the House before reaching the President.
Latest action: — Received in the Senate and Read twice and referred to the Committee on Health, Education, Labor, and Pensions.