[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5338 Introduced in House (IH)]

<DOC>






118th CONGRESS
  1st Session
                                H. R. 5338

    To amend the Employee Retirement Income Security Act of 1974 to 
  establish that fiduciaries must act with prudence and loyalty when 
             selecting service providers for pension plans.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           September 5, 2023

Mr. Good of Virginia introduced the following bill; which was referred 
            to the Committee on Education and the Workforce

_______________________________________________________________________

                                 A BILL


 
    To amend the Employee Retirement Income Security Act of 1974 to 
  establish that fiduciaries must act with prudence and loyalty when 
             selecting service providers for pension plans.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``No Discrimination in My Benefits 
Act''.

SEC. 2. SELECTION OF SERVICE PROVIDERS.

    Section 404(a)(1) of the Employee Retirement Income Security Act of 
1974 (29 U.S.C. 1104(a)(1)) is amended--
            (1) in subparagraph (C), by striking ``and'';
            (2) in subparagraph (D), by striking the period at the end 
        and inserting ``; and''; and
            (3) by adding at the end the following new subparagraph:
                    ``(E) by selecting, monitoring, and retaining any 
                fiduciary, counsel, employee, or service provider of 
                the plan--
                            ``(i) in accordance with subparagraphs (A) 
                        and (B); and
                            ``(ii) without regard to race, color, 
                        religion, sex, or national origin.''.
                                 <all>