Providing Complete Information to Retirement Investors Act
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
Requires ERISA plans offering brokerage windows to provide and obtain acknowledgment of specific risk and projection disclosures before participants use those arrangements.
Who Benefits and How
Retirement plan participants could receive clearer warnings and projected-balance illustrations before moving assets into brokerage-window investments that are not monitored designated alternatives.
Who Bears the Burden and How
Plan fiduciaries and administrators would have to deliver new notices, collect acknowledgments, and update plan disclosure practices.
Key Provisions
- Requires participants to receive and acknowledge a standardized notice before using non-designated brokerage-window investments.
- Requires projected-balance illustrations and adds a statutory definition of designated investment alternative.
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers.
At a Glance
What This Bill Does
Requires ERISA plans offering brokerage windows to provide and obtain acknowledgment of specific risk and projection disclosures before participants use those arrangements.
Key Policy Areas
Finance, Labor
Primary Purpose
Requires ERISA plans offering brokerage windows to provide and obtain acknowledgment of specific risk and projection disclosures before participants use those arrangements.
Policy Domains
Main Provisions
Identified Gains
Contextual inference, no direct clause citation- Retirement plan participants using brokerage-window arrangements
Contextual inference, no direct clause citation
Identified Costs
Contextual inference, no direct clause citation- Plan fiduciaries and administrators that must provide and document the new disclosures
Contextual inference, no direct clause citation
Sponsors
Jim Banks
R-IN | Primary Sponsor
Legislative Progress
In CommitteeMr. Banks (for himself and Mr. Cassidy) introduced the following …
Read twice and referred to the Committee on Health, Education, …
Introduced in Senate
Stakeholder Effects
cui bono?How this legislation distributes effects. Mention counts reflect frequency, not effect magnitude.
Plan fiduciaries and administrators required to provide and document the disclosures, Retirement plan participants receiving clearer brokerage-window risk disclosures
Positive-direction: Retirement plan participants receiving clearer brokerage-window risk disclosures
Negative-direction: Plan fiduciaries and administrators required to provide and document the disclosures
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