3.0.0 1677 2023-01-11T13:50:11Z 2023-01-11T13:50:11Z Senate S 2021-05-18 117 sshr00 Health, Education, Labor, and Pensions Committee Senate Standing Referred to 2021-05-18T20:15:26Z EMPOWERS Act 117 3308 HR 2021-05-18 Referred to the House Committee on Education and Labor. Identical bill CRS 2021-05-18 sshr00 Health, Education, Labor, and Pensions Committee Senate Read twice and referred to the Committee on Health, Education, Labor, and Pensions. IntroReferral 2021-05-18 Introduced in Senate IntroReferral 10000 9 Library of Congress B001230 Sen. Baldwin, Tammy [D-WI] Tammy Baldwin D WI N S000033 Sen. Sanders, Bernard [I-VT] Bernard Sanders I VT 2021-05-18 True W000817 Sen. Warren, Elizabeth [D-MA] Elizabeth Warren D MA A. 2021-05-18 True M001176 Sen. Merkley, Jeff [D-OR] Jeff Merkley D OR 2021-05-18 True M000133 Sen. Markey, Edward J. [D-MA] Edward Markey D MA J. 2021-05-18 True B001288 Sen. Booker, Cory A. [D-NJ] Cory Booker D NJ 2021-05-18 True B001277 Sen. Blumenthal, Richard [D-CT] Richard Blumenthal D CT 2021-05-18 True Labor and Employment Administrative law and regulatory procedures Corporate finance and management Department of Labor Employee benefits and pensions Financial services and investments Labor-management relations Securities Labor and Employment 00 2021-05-18 Introduced in Senate 2022-08-09T16:19:40Z Encouraging More Proxy voting by Organized Workers, Employees, and Retirement Savers Act or the EMPOWERS Act

This bill modifies the requirements for single-employer retirement plans with respect to the fiduciaries and proxy voting procedures for such plans.

Specifically, it requires the assets of such plans to be held in trust by a joint board of trustees that represents the interests of the employer and the interests of the plan participants and their beneficiaries on an equal basis.

Additionally, the trustees of each plan must undergo training and establish proxy voting guidelines for the plan. In exercising a plan's proxy voting rights, a fiduciary may consider (1) the investment objectives of the plan participants and their beneficiaries, and (2) certain effects of negative externalities generated by portfolio companies.

]]> Encouraging More Proxy voting by Organized Workers, Employees, and Retirement Savers Act Display Title Encouraging More Proxy voting by Organized Workers, Employees, and Retirement Savers Act Official Title as Introduced A bill to establish a process by which participants of employee welfare plans select guidelines to be used by the plan fiduciary for voting proxies on securities held in investment portfolios under the plan, and for other purposes. Introduced in Senate IS Short Title(s) as Introduced Encouraging More Proxy voting by Organized Workers, Employees, and Retirement Savers Act Introduced in Senate IS Short Title(s) as Introduced EMPOWERS Act Introduced in Senate IS Introduced in Senate 2021-05-18T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-117s1677is/xml/BILLS-117s1677is.xml 2021-05-18 Read twice and referred to the Committee on Health, Education, Labor, and Pensions. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.