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Retirement Savings Protection: New Rules for Stock Management

New rules aim to protect your retirement savings by ensuring that those managing your funds act solely in your financial interest. This means decisions about voting shares on your behalf must be made to maximize your future benefits, not for non-pecuniary objectives.
Key points
Retirement fund managers must make stock-related decisions solely to increase your financial benefits.
Using your retirement savings to promote social or environmental goals unrelated to your financial interests is prohibited.
Rules are introduced allowing fiduciaries to refrain from voting on matters that do not significantly impact your investment value, aiming to save costs.
article Official text account_balance Process page
Expired
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Additional Information
Print number: 118_HR_5337
Sponsor: Rep. Houchin, Erin [R-IN-9]
Process start date: 2023-09-05
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Retirement Proxy Protection Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_5337.

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 2023-09-05.

What are the main provisions?

Key points include:

  • Retirement fund managers must make stock-related decisions solely to increase your financial benefits.
  • Using your retirement savings to promote social or environmental goals unrelated to your financial interests is prohibited.
  • Rules are introduced allowing fiduciaries to refrain from voting on matters that do not significantly impact your investment value, aiming to save costs.
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. Houchin, Erin [R-IN-9].

What is the latest detailed status?

The latest detailed status is: Placed on the Union Calendar, Calendar No. 186.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Labor Benefits Economy