Bill

H.R. 2988 (119th): Protecting Prudent Investment of Retirement Savings Act

Protecting Prudent Investment of Retirement Savings Act This bill modifies the requirements for fiduciaries of employer-sponsored retirement plans. First, the bill generally requires a plan fiduciary to make investment decisions based solely on pecuniary factors (i.e., factors that a fiduciary prudently determines are expected to have a material effect on the risk or return of an investment based on appropriate investment horizons consistent with the plan's policies and objectives). The bill allows nonpecuniary factors to be considered in certain situations, such as when selecting investment options for certain participant-directed retirement plans or if the fiduciary is unable to distinguish between investment alternatives on the basis of pecuniary factors alone. The bill also prohibits a plan fiduciary from discriminating when selecting, monitoring, and retaining any fiduciary, counsel, employee, or service provider of the plan. The bill requires a plan fiduciary to act solely and prudently in accordance with the interests of the plan's participants and beneficiaries when exercising a shareholder right (e.g., voting of proxies). However, the fiduciary duty to manage shareholder rights does not require the voting of every proxy or the exercise of every shareholder right. Finally, the bill requires a plan fiduciary to provide specified notices with respect to a pension plan that provides a participant or beneficiary the opportunity to select from designated investment alternatives.

house · Substantive

Rankings updated October 26, 2026, 11:44 AM ET · Votes through September 30, 2026
Exported candidates: 719 | Filings on file, by office: H: 5838 | P: 1467 | S: 1567. These counts include every filing for that office, so they are larger than the ranked list. One person can have more than one filing. Non-voting delegates are left out.

Recorded summary

H.R. 2988, the Protecting Prudent Investment of Retirement Savings Act, modifies fiduciary duties for employer-sponsored retirement plans. It generally requires fiduciaries to base investment decisions solely on pecuniary factors, meaning factors reasonably expected to have a material effect on risk or return. It allows nonpecuniary factors in limited cases, such as certain participant-directed plans or when alternatives cannot be distinguished on pecuniary grounds. It bars discrimination in selecting, monitoring, and retaining fiduciaries, counsel, employees, or service providers. It requires shareholder rights, such as proxy voting, to be exercised solely and prudently in participants' interests, without requiring every proxy vote or shareholder action. It also requires specified notices for pension plans offering designated investment alternatives.

esg_investingfiduciary_dutyfinancial_managementfinancial_regulationfinancial_responsibilityfinancial_stewardshipretirement_savingsretirement_securitystewardship

Theological note: The bill bears on stewardship and justice toward participants and beneficiaries whose retirement savings are entrusted to fiduciaries, which Scripture treats as a serious trust requiring faithful, prudent management. It also raises questions about how far law should limit fiduciaries' consideration of nonpecuniary or conscience-related concerns in investment decisions. These are issue-relevance points, not a final candidate judgment.

How this bill is scored

Recorded votes

Roll 29 · 15-Jan-2026 10:29 AM · On Agreeing to the Amendment · Agreed to

Yea 395 · Nay 22 · Other 14

Yea

Nay

Other

Roll 30 · 15-Jan-2026 10:36 AM · On Motion to Recommit · Failed

Yea 206 · Nay 210 · Other 15

Yea

Nay

Other

Roll 31 · 15-Jan-2026 10:43 AM · On Passage · Passed

Yea 213 · Nay 205 · Other 13

Yea

Nay

Other

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