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Congressional Disapproval of Labor Department's Retirement Investment Rule

This Congressional resolution aims to nullify a new Department of Labor rule concerning how retirement plan fiduciaries select investments and exercise shareholder rights. The rule allowed fiduciaries to consider non-financial factors (like environmental or social issues) in their decisions. If this resolution passes, the rule will be voided, ensuring that investment decisions for retirement savings must strictly adhere to traditional financial prudence and loyalty standards, without formally incorporating broader societal or environmental concerns.
Key points
Congress seeks to block the Department of Labor's rule on 'Prudence and Loyalty' in selecting retirement plan investments.
If the resolution is enacted, managers of your retirement savings will not be required to consider ESG (Environmental, Social, Governance) factors when making investment decisions.
This action reinforces that retirement fund investment decisions must be based solely on traditional financial criteria and maximizing returns for plan participants.
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Expired
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Additional Information
Print number: 117_HJRES_103
Sponsor: Rep. Barr, Andy [R-KY-6]
Process start date: 2022-12-15
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Summarized by: gemini-flash-latest
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to "Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights".

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HJRES_103.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2022-12-15.

What are the main provisions?

Key points include:

  • Congress seeks to block the Department of Labor's rule on 'Prudence and Loyalty' in selecting retirement plan investments.
  • If the resolution is enacted, managers of your retirement savings will not be required to consider ESG (Environmental, Social, Governance) factors when making investment decisions.
  • This action reinforces that retirement fund investment decisions must be based solely on traditional financial criteria and maximizing returns for plan participants.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Barr, Andy [R-KY-6].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Education and Labor.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2026-01-02.

CATEGORIES

Labor Economy