Rules Committee · Jan 15, 2026
H.Amdt. 151: Its purpose is not yet published.
Adopted
With no one objecting, no names recorded
Rick Allen (R-GA)
Protecting Prudent Investment of Retirement Savings Act
H.R. 2988 · House bill Labor and Employment
A Republican bill with no cosponsors
Last activity — Received in the Senate and Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
In the other chamber's committee
Passed one chamber and has been handed to a committee in the other.
The committee decides whether it goes any further, and most bills that reach a committee never leave it. A committee that simply does nothing kills a bill without anyone ever voting against it, so no news from here is usually the news.
Its path through Congress
- Introduced
- Passed House 213–205
- In Senate committee
What this bill would do
The bill is known as the Protecting Prudent Investment of Retirement Savings Act. It sets rules for individuals managing retirement plans to focus strictly on financial returns rather than other goals. It also prohibits discrimination based on race, color, religion, sex, or national origin when choosing service providers for a plan. Additionally, the legislation regulates how shareholder rights and proxies are handled for retirement shares. Finally, it requires specific warnings and disclosures for participants who use brokerage windows outside of standard plan options, and orders a study on these accounts.
Yes· 3 of 17
- Scored +4
Would people over 65 be better off under this?
The bill aims to protect and increase retirement earnings, which is beneficial for seniors relying on these funds.
- Scored +4
Would retired people be better off under this?
The bill aims to protect and increase retirement earnings, which is beneficial for retirees relying on these funds.
- Scored +3
Would people in their twenties and thirties be better off under this?
The bill ensures that retirement investments are managed with a primary focus on financial returns, potentially benefiting young adults as they start saving for retirement.
The opposite
- Scored -2
Does this cut the pollution that drives climate change?
Section 1002 limits consideration of non-pecuniary factors by fiduciaries, which may hinder investments that promote environmental sustainability.
- Scored -2
Does this better protect air, water and wildlife?
Section 1002 limits consideration of non-pecuniary factors by fiduciaries, which may hinder investments that promote environmental protection.
- Scored -1
Does this put more money into wind, solar and other renewable power?
Section 1002 could potentially reduce renewable energy investments if they are deemed to prioritize non-pecuniary benefits over financial returns.
What Congress actually voted on
2 recorded votes have been taken on this bill. One of them decided something; the rest moved it along.
- The House: the vote on whether to pass the bill This is the real decision in this chamber. Passing here sends the bill to the other chamber, which must pass it too before it can go to the President. Passed 213 yes · 205 no
01/15/2026 · Roll call 31 · recorded as “On Passage”
- The House: a last attempt to send the bill back to committee The minority party's final chance to change or stall a bill just before the vote on passage. It almost always fails; when it succeeds, the bill does not get its final vote that day. Motion to recommit rejected 206 yes · 210 no
01/15/2026 · Roll call 30 · recorded as “On Motion to Recommit”
Who it would affect, and how
Potential Positive Impacts for People
-
Protection of Financial Returns: Under Section 1002 (Section 404(a)(3) of the Employee Retirement Income Security Act of 1974), retirement plan managers must base investment decisions solely on pecuniary factors and cannot sacrifice investment returns to promote non-pecuniary goals. This ensures that the primary focus remains on growing retirement savings for everyday workers.
-
Equal Opportunity in Service Provider Selection: Under Section 2002 (Section 404(a)(1)(E) of the Employee Retirement Income Security Act of 1974), plan fiduciaries must select, monitor, and retain service providers without regard to race, color, religion, sex, or national origin. This provision promotes fairness and prevents discrimination in who gets hired to manage or assist with retirement plans.
-
Clear Information on Self-Directed Investments: Under Section 402 (Section 404(c)(7) of the Employee Retirement Income Security Act of 1974), participants who use brokerage windows outside of designated plan investments must be given a clear notice and a hypothetical illustration of returns. This helps everyday workers understand potential risks, higher fees, and projected account balances before making self-directed investment choices.
Potential Negative Impacts for People
-
Restrictions on Non-Financial Goals: Under Section 1002 (Section 404(a)(3) of the Employee Retirement Income Security Act of 1974), plan managers are strictly limited from using non-pecuniary factors unless specific and narrow conditions are met. Individuals who prefer to invest their retirement funds based on personal values or broader social goals may find their options restricted.
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Burden of Additional Notices and Acknowledgments: Under Section 402 (Section 404(c)(7) of the Employee Retirement Income Security Act of 1974), plan participants utilizing brokerage windows are required to receive, review, and acknowledge a four-part notice every single time they direct an investment. This creates extra administrative hurdles and red tape for individuals trying to manage their own accounts.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Tap or hover a score for the reason it gave.
- Demographic And Interest Groups
- Would retired people be better off under this? — The bill aims to protect and increase retirement earnings, which is beneficial for retirees relying on these funds. Would people over 65 be better off under this? — The bill aims to protect and increase retirement earnings, which is beneficial for seniors relying on these funds. Would households on low incomes be better off under this? — The bill aims to increase retirement earnings, which would be particularly beneficial for low-income households that have limited savings. Would people in middle age be better off under this? — The bill ensures that retirement investments are managed with a primary focus on financial returns, potentially benefiting middle-aged individuals as they continue to save for retirement. Would middle-income households be better off under this? — The bill aims to increase retirement earnings, which would be particularly beneficial for middle-class households as they prepare for retirement. Would people in their twenties and thirties be better off under this? — The bill ensures that retirement investments are managed with a primary focus on financial returns, potentially benefiting young adults as they start saving for retirement. Would Black Americans be better off under this? — Section 2002 promotes racial equity by preventing discrimination based on race in service provider selection for retirement plans. Would Asian Americans be better off under this? — Section 2002 promotes racial equity by preventing discrimination based on race in service provider selection for retirement plans. Would high-income households be better off under this? — The bill still offers improvements in retirement earnings for High income households, although they may not be as affected. Would Hispanic Americans be better off under this? — Section 2002 promotes racial equity by preventing discrimination based on race in service provider selection for retirement plans. Would immigrants be better off under this? — Section 2002 prevents discrimination based on national origin in service provider selection, which is beneficial for immigrants. Would Native Americans be better off under this? — Section 2002 promotes racial equity by preventing discrimination based on race in service provider selection for retirement plans. Would women be better off under this? — Section 2002 promotes gender equality by preventing discrimination based on sex in service provider selection for retirement plans.
- Environment Energy And Infrastructure
- Does this better protect air, water and wildlife? — Section 1002 limits consideration of non-pecuniary factors by fiduciaries, which may hinder investments that promote environmental protection. Does this cut the pollution that drives climate change? — Section 1002 limits consideration of non-pecuniary factors by fiduciaries, which may hinder investments that promote environmental sustainability. Does this put more money into wind, solar and other renewable power? — Section 1002 could potentially reduce renewable energy investments if they are deemed to prioritize non-pecuniary benefits over financial returns.
- Social Issues And Justice
- Does this narrow the gap between how men and women are treated? — Section 2002 promotes gender equality by preventing discrimination based on sex in service provider selection for retirement plans. Does this narrow racial gaps in how people are treated? — Section 2002 promotes racial equity by preventing discrimination based on race in service provider selection for retirement plans.
- Economy And Finance
- Does this give people more protection from unfair business practices? — The bill mandates brokerage window disclosures, which aim to provide more comprehensive information to retirement investors, enhancing consumer protection.
- Governance And Ideology
- Does this give the federal government more power? — The bill specifies requirements concerning consideration of pecuniary and non-pecuniary factors, which slightly increases federal oversight.
- 1/26/2026
- Received in the Senate and Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
- 1/15/2026
- Motion to reconsider laid on the table Agreed to without objection.
- Passed/agreed to in House: On passage Passed by the Yeas and Nays: 213 - 205 (Roll no. 31).
- On passage Passed by the Yeas and Nays: 213 - 205 (Roll no. 31).
- On motion to recommit Failed by the Yeas and Nays: 206 - 210 (Roll no. 30).
- The previous question on the motion to recommit was ordered pursuant to clause 2(b) of rule XIX.
- Ms. Kaptur moved to recommit to the Committee on Education and Workforce. (text: CR H905)
- The previous question was ordered on the amendment and the bill pursuant to the rule.
- DEBATE - Pursuant to the provisions of H. Res. 988, the House proceeded with 10 minutes of debate on the Huizenga amendment No. 1.
- DEBATE - The House proceeded with one hour of debate on H.R. 2988.
- 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.
- 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)
- 1/12/2026
- 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.
- 12/30/2025
- Reported (Amended) by the Committee on Education and Workforce. H. Rept. 119-421.
- Placed on the Union Calendar, Calendar No. 367.
- 6/25/2025
- Committee Consideration and Mark-up Session Held
- Ordered to be Reported (Amended) by the Yeas and Nays: 21 - 15.
- 4/24/2025
- Referred to the House Committee on Education and Workforce.
- Introduced in House
3 bills Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
- 119-HR-1996: Retirement Proxy Protection Act
- 119-S-3083: Providing Complete Information to Retirement Investors Act
- 119-HRES-988: Providing for consideration of the bill (H.R. 2988) 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; providing for consideration of the bill (H.R. 2262) to amend the Fair Labor Standards Act of 1938 to exclude certain activities from hours worked, and for other purposes; providing for consideration of the bill (H.R. 2270) to amend the Fair Labor Standards Act of 1938 to exclude child and dependent care services and payments from the rate used to compute overtime compensation; providing for consideration of the bill (H.R. 2312) to amend the Fair Labor Standards Act of 1938 to revise the definition of the term ''tipped employee'', and for other purposes; and providing for consideration of the bill (H.R. 4366) to clarify the treatment of 2 or more employers as joint employers under the National Labor Relations Act and the Fair Labor Standards Act of 1938.