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Protecting Retirement Investments: Prioritizing Financial Returns Over Social Goals

This act changes how retirement funds are managed, requiring a sole focus on financial returns. This means fund managers cannot sacrifice returns or take on additional risk to promote social or environmental goals. The aim is to enhance the security and potential gains from citizens' retirement savings.
Key points
Retirement fund managers must prioritize financial returns over social or environmental goals (ESG).
Service provider selection for retirement plans must be free from discrimination based on race, color, religion, sex, or national origin.
Fund managers must vote company shares in the financial interest of plan participants, not for non-pecuniary objectives.
Retirement plan participants using 'brokerage windows' will receive clear warnings about potentially higher fees and risks compared to standard investment options.
article Official text account_balance Process page
VOTING RESULTS
2024-09-18
51%
For 217
Against 206
Abstain 0
Full voting results open_in_new
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_HR_5339
Sponsor: Rep. Allen, Rick W. [R-GA-12]
Process start date: 2023-09-05
Voting date: 2024-09-18
Meeting no: 2
Voting no: 427
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

Protecting Americans’ Investments from Woke Policies Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_5339.

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 prioritize financial returns over social or environmental goals (ESG).
  • Service provider selection for retirement plans must be free from discrimination based on race, color, religion, sex, or national origin.
  • Fund managers must vote company shares in the financial interest of plan participants, not for non-pecuniary objectives.
  • Retirement plan participants using 'brokerage windows' will receive clear warnings about potentially higher fees and risks compared to standard investment options.
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. Allen, Rick W. [R-GA-12].

What is the latest detailed status?

The latest detailed status is: On passage Passed by the Yeas and Nays: 217 - 206 (Roll no. 427). (text of amendment in the nature of a substitute: CR H5343-5345)

Is this summary verified?

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

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