3.0.0 4484 2023-08-31T14:00:27Z 2023-08-31T14:00:27Z Senate S 2022-06-23 117 sshr00 Health, Education, Labor, and Pensions Committee Senate Standing Referred to 2022-06-23T20:39:56Z 2022-06-23 sshr00 Health, Education, Labor, and Pensions Committee Senate Read twice and referred to the Committee on Health, Education, Labor, and Pensions. IntroReferral 2022-06-23 Introduced in Senate IntroReferral 10000 9 Library of Congress D000618 Sen. Daines, Steve [R-MT] Steve Daines R MT N B001310 Sen. Braun, Mike [R-IN] Mike Braun R IN 2022-07-25 False Labor and Employment Labor and Employment 00 2022-06-23 Introduced in Senate 2023-08-31T13:53:16Z Securing Employee Retirement Returns Act

This bill revises the fiduciary duties for a retirement or employee benefit plan that is regulated under the Employee Retirement Income Security Act of 1974.

The bill generally requires a fiduciary to select and maintain investments for a plan based solely on pecuniary factors. Under the bill, a pecuniary factor is a factor that is expected to have a material effect on the risk or return of an investment based on appropriate investment horizons that are consistent with the plan's investment objectives and funding policy.

The bill allows a fiduciary to use nonpecuniary factors in certain circumstances, such as when a fiduciary (1) is unable to distinguish between investment alternatives on the basis of pecuniary factors alone, or (2) is selecting or maintaining investment alternatives for a defined contribution plan that permits a participant or beneficiary to choose from a broad range of investment alternatives.

]]> Securing Employee Retirement Returns Act Display Title Securing Employee Retirement Returns Act Short Title(s) as Introduced Securing Employee Retirement Returns Act Introduced in Senate IS Official Title as Introduced A bill 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. Introduced in Senate IS Introduced in Senate 2022-06-23T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-117s4484is/xml/BILLS-117s4484is.xml 2022-06-23 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.