arrow_back Back to App

Increased Worker Influence in Retirement Fund Management

This act aims to increase the influence of workers and retirees over decisions regarding their retirement funds. It introduces new rules for electing employee representatives to fund boards and mandates the creation of proxy voting guidelines, ensuring investments better align with participants' interests.
Key points
Employees and beneficiaries will gain the right to elect their representatives to retirement fund boards, increasing their say in managing savings.
Retirement funds will be required to develop clear guidelines for voting shares of companies they invest in, and these guidelines will be accessible to all plan participants.
Investment managers will have to vote in accordance with guidelines provided by retirement funds, ensuring investments align with participant objectives.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_S_1677
Sponsor: Sen. Baldwin, Tammy [D-WI]
Process start date: 2021-05-18
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

EMPOWERS Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_1677.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-05-18.

What are the main provisions?

Key points include:

  • Employees and beneficiaries will gain the right to elect their representatives to retirement fund boards, increasing their say in managing savings.
  • Retirement funds will be required to develop clear guidelines for voting shares of companies they invest in, and these guidelines will be accessible to all plan participants.
  • Investment managers will have to vote in accordance with guidelines provided by retirement funds, ensuring investments align with participant objectives.
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 Sen. Baldwin, Tammy [D-WI].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Labor Benefits