{"bill":{"id":"119-hr-2988","congress":119,"type":"HR","number":2988,"title":"Protecting Prudent Investment of Retirement Savings Act","originChamber":"House","introducedDate":"2025-04-24","sponsors":[{"bioguideId":"A000372","fullName":"Rep. Allen, Rick W. [R-GA-12]","party":"R","state":"GA","district":12}],"cosponsorsCount":0,"latestAction":{"actionDate":"2026-01-26","text":"Received in the Senate and Read twice and referred to the Committee on Health, Education, Labor, and Pensions."},"policyArea":"Labor and Employment","subjects":["Business ethics","Employee benefits and pensions","Financial services and investments"],"actions":[{"date":"2026-01-26","text":"Received in the Senate and Read twice and referred to the Committee on Health, Education, Labor, and Pensions.","type":"IntroReferral","chamber":"Senate","hasVote":false},{"date":"2026-01-15","text":"Motion to reconsider laid on the table Agreed to without objection.","type":"Floor","chamber":"House floor actions","hasVote":false},{"date":"2026-01-15","text":"On passage Passed by the Yeas and Nays: 213 - 205 (Roll no. 31).","type":"Floor","chamber":"House floor actions","hasVote":true},{"date":"2026-01-15","text":"Passed/agreed to in House: On passage Passed by the Yeas and Nays: 213 - 205 (Roll no. 31).","type":"Floor","chamber":"Library of Congress","hasVote":true},{"date":"2026-01-15","text":"On motion to recommit Failed by the Yeas and Nays: 206 - 210 (Roll no. 30).","type":"Floor","chamber":"House floor actions","hasVote":true},{"date":"2026-01-15","text":"The previous question on the motion to recommit was ordered pursuant to clause 2(b) of rule XIX.","type":"Floor","chamber":"House floor actions","hasVote":false},{"date":"2026-01-15","text":"Ms. Kaptur moved to recommit to the Committee on Education and Workforce. (text: CR H905)","type":"Floor","chamber":"House floor actions","hasVote":false},{"date":"2026-01-15","text":"The previous question was ordered on the amendment and the bill pursuant to the rule.","type":"Floor","chamber":"House floor actions","hasVote":false},{"date":"2026-01-15","text":"DEBATE - Pursuant to the provisions of H. Res. 988, the House proceeded with 10 minutes of debate on the Huizenga amendment No. 1.","type":"Floor","chamber":"House floor actions","hasVote":false},{"date":"2026-01-15","text":"DEBATE - The House proceeded with one hour of debate on H.R. 2988.","type":"Floor","chamber":"House floor actions","hasVote":false},{"date":"2026-01-15","text":"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.","type":"Floor","chamber":"House floor actions","hasVote":false},{"date":"2026-01-15","text":"Considered under the provisions of rule H. Res. 988. (consideration: CR H897-907; text of amendment in the nature of a substitute: CR H897-899)","type":"Floor","chamber":"House floor actions","hasVote":false},{"date":"2026-01-12","text":"Rules 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.","type":"Floor","chamber":"House floor actions","hasVote":false},{"date":"2025-12-30","text":"Placed on the Union Calendar, Calendar No. 367.","type":"Calendars","chamber":"House floor actions","hasVote":false},{"date":"2025-12-30","text":"Reported (Amended) by the Committee on Education and Workforce. H. Rept. 119-421.","type":"Committee","chamber":"House floor actions","hasVote":false},{"date":"2025-12-30","text":"Reported (Amended) by the Committee on Education and Workforce. H. Rept. 119-421.","type":"Committee","chamber":"Library of Congress","hasVote":false},{"date":"2025-06-25","text":"Ordered to be Reported (Amended) by the Yeas and Nays: 21 - 15.","type":"Committee","chamber":"House committee actions","hasVote":false},{"date":"2025-06-25","text":"Committee Consideration and Mark-up Session Held","type":"Committee","chamber":"House committee actions","hasVote":false},{"date":"2025-04-24","text":"Referred to the House Committee on Education and Workforce.","type":"IntroReferral","chamber":"House floor actions","hasVote":false},{"date":"2025-04-24","text":"Introduced in House","type":"IntroReferral","chamber":"Library of Congress","hasVote":false},{"date":"2025-04-24","text":"Introduced in House","type":"IntroReferral","chamber":"Library of Congress","hasVote":false}],"summary":"<p><strong>Protecting Prudent Investment of Retirement Savings Act</strong></p><p>This bill modifies the requirements for fiduciaries of employer-sponsored retirement plans.</p><p>First, the bill generally requires a plan fiduciary to make investment decisions based solely&nbsp;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).</p><p>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.</p><p>The bill also prohibits a plan fiduciary from discriminating when selecting, monitoring, and retaining any fiduciary, counsel, employee, or service provider of the plan.</p><p>The bill requires a plan fiduciary to act solely and prudently in accordance with the interests of the plan's&nbsp;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.</p><p>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.</p>","updateDate":"2026-02-03T09:09:12Z"},"markets":[],"stateBills":[],"meta":{"sources":["congress.gov"],"latencyMs":606,"ts":"2026-04-19T08:24:53.588Z"},"nextActions":{"inspect":[],"related":[{"description":"Search related legislation","method":"GET","url":"/api/public/query-gov?q=Protecting%20Prudent%20Investment%20of%20Retirement%20Savings%20Act"}]}}