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Congress·Reported·H.R. 2988

House Committee Advances Bill Requiring Retirement Fund Managers to Prioritize Financial Returns Over Other Goals

Protecting Prudent Investment of Retirement Savings Act

Also known as: Increase Retirement Earnings Act

2 months ago·View on Congress.gov

Legislative Progress

✓ House

213–205

Senate
President
Law

Key Points

  • Retirement plan managers would have to base investment choices mainly on money-related factors like risk and return, not other goals, unless investments are truly tied on financial grounds and the reason is documented.
  • Workplace retirement plans could still offer “values-based” funds as optional choices, but those funds could not be used as the plan’s default option if they rely on non-money factors.

    From policy text

    “such investment option is not added or retained as, or included as a component of, a default investment under subsection (c)(5) (or any other default investment alternative) if its investment objectives or goals or its principal investment strategies include, consider, or indicate the use of one or more non-pecuniary factors.”
    View in full text
  • Plan managers voting company shares with retirement money would face stricter rules: focus on financial impact, consider costs, keep records, and avoid voting to push non-money goals.
  • Plan managers choosing plan service providers (like advisors or consultants) would be required to do so without considering race, color, religion, sex, or national origin.
  • Workers using a plan’s brokerage window would have to get and acknowledge a clear warning each time they trade, including a simple illustration showing how different return rates could change savings by age 67.

    From policy text

    “each time before such a participant or beneficiary directs an investment into, out of, or within such investment arrangement, such participant is notified of, and acknowledges, each element of the notice described under paragraph (B).”
    View in full text
Labor EmploymentConsumer Protection

Milestones

3 milestones7 actions
Jan 12, 2026House

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.

Dec 30, 2025House

Placed on the Union Calendar, Calendar No. 367.

Dec 30, 2025House

Reported (Amended) by the Committee on Education and Workforce. H. Rept. 119-421.

Jun 25, 2025House

Ordered to be Reported (Amended) by the Yeas and Nays: 21 - 15.

Jun 25, 2025House

Committee Consideration and Mark-up Session Held

What Happens Next

Projected impacts based on AI analysis

12 months after the bill becomes law

New “pecuniary factors first” rule starts for retirement plan investment decisions

Plan decision-makers must base investment choices mainly on money-related factors like risk and expected return; using other factors as a tiebreaker requires documentation. Some plan lineups and default options may be reviewed or changed.

Vote Results

3 votes
HousePassedAmendmentJan 15, 2026

On Agreeing to the Amendment

An amendment to elect officers of the House.

395
22
Democrat
186 – 22 · 5
Republican
209 – 0 · 9
View full roll call
HouseFailedAmendmentJan 15, 2026

On Motion to Recommit

206
210
Democrat
206 – 1 · 6
Republican
0 – 209 · 9
View full roll call
HousePassedPassageJan 15, 2026

On Passage

213
205
Democrat
3 – 205 · 5
Republican
210 – 0 · 8
View full roll call

Source Information

Document Type

Congressional Bill

Official Title

Protecting Prudent Investment of Retirement Savings Act

Bill NumberHR 2988
Congress119th Congress
ChamberHouse of Representatives
Latest ActionRules 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.

Sponsor

Analysis generated by AI. Always verify with official sources.