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Congress Disapproves Labor Department's Retirement Investment Rule

The U.S. Congress has rejected new Department of Labor rules concerning investments in retirement plans and the exercise of shareholder rights. This means that the proposed guidelines, which would have influenced how retirement savings are managed, will not take effect. For citizens, this implies no changes to the current rules governing their retirement fund investments.
Key points
Congress invalidated the Department of Labor's new rules on retirement plan investments.
These rules, concerning prudence and loyalty in investment selection, will not be enforced.
No changes to how citizens' private retirement savings are managed.
article Official text account_balance Process page
VOTING RESULTS
2023-03-23
52%
For 219
Against 200
Abstain 0
Full voting results open_in_new
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_HJRES_30
Sponsor: Rep. Barr, Andy [R-KY-6]
Process start date: 2023-02-07
Voting date: 2023-03-23
Meeting no: 1
Voting no: 149
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Summarized by: gemini-2.5-flash
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 118_HJRES_30.

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 2023-02-07.

What are the main provisions?

Key points include:

  • Congress invalidated the Department of Labor's new rules on retirement plan investments.
  • These rules, concerning prudence and loyalty in investment selection, will not be enforced.
  • No changes to how citizens' private retirement savings are managed.
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

Where is the official voting record?

The official roll call vote is recorded at: voting record

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: The Chair directed the Clerk to notify the Senate of the action of the House.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-24.

CATEGORIES

Labor Economy