To amend the Employee Retirement Income Security Act of 1974 to clarify the fiduciary duty of plan administrators to select and maintain investments based solely on pecuniary factors, and for other purposes.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
The bill provides fiduciary duty regarding the consideration of certain factors in investment decisions for employee benefit plans Subsection (a) of section 404 of the Employee Retirement Income Security Act of 1974 (29 U.S.C. It relies on definition changes, appropriations, and compliance mandates. The main policy areas are Homeowners, Finance, and Housing.
Who Benefits and How
Lobbyists, political organizations, and disclosure users affected by the bill could gain revenue opportunities, Homeowners, tenants, or housing market participants affected by the bill could gain revenue opportunities, and Financial services firms and customers affected by the bill could gain revenue opportunities.
Who Bears the Burden and How
Federal, state, or local agencies responsible for implementing the clause would take on compliance duties.
Key Provisions
- Provides fiduciary duty regarding the consideration of certain factors in investment decisions for employee benefit plans Subsection (a) of section 404 of the Employee Retirement Income Security Act of 1974 (29 U.S.C.
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
The bill provides fiduciary duty regarding the consideration of certain factors in investment decisions for employee benefit plans Subsection (a) of section 404 of the Employee Retirement Income Security Act of 1974 (29 U.S.C.
Key Policy Areas
Homeowners, Finance, Housing
Primary Purpose
The bill provides fiduciary duty regarding the consideration of certain factors in investment decisions for employee benefit plans Subsection (a) of section 404 of the Employee Retirement Income Security Act of 1974 (29 U.S.C.
Policy Domains
Whole bill
Identified Gains
- Lobbyists, political organizations, and disclosure users affected by the bill
- Homeowners, tenants, or housing market participants affected by the bill
- Financial services firms and customers affected by the bill
Identified Costs
- Federal, state, or local agencies responsible for implementing the clause
Sponsors
Legislative Progress
IntroducedMr. Braun (for himself, Mrs. Blackburn, Mr. Cruz, Mr. Budd, …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology