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Congress Blocks DOL Rule on ESG Investment Standards for Retirement Plans.

This resolution aims to nullify a Department of Labor rule concerning how fiduciaries manage retirement savings, such as 401(k) plans. If passed, the rule—which allowed plan managers to explicitly consider non-financial factors like ESG when selecting investments—will have no legal effect. This action ensures that investment decisions for retirement funds must prioritize financial returns and risk over broader social or environmental goals.
Key points
Retirement Savings Management: Congress seeks to stop a new standard affecting how citizens' pension and 401(k) funds are invested by plan managers.
Investment Criteria: Disapproval of the rule reinforces the requirement that fiduciaries must focus solely on financial prudence and loyalty, potentially limiting the formal use of ESG factors.
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Expired
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Additional Information
Print number: 118_SJRES_8
Sponsor: Sen. Braun, Mike [R-IN]
Process start date: 2023-02-07
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Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

A joint resolution 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_SJRES_8.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-02-07.

What are the main provisions?

Key points include:

  • Retirement Savings Management: Congress seeks to stop a new standard affecting how citizens' pension and 401(k) funds are invested by plan managers.
  • Investment Criteria: Disapproval of the rule reinforces the requirement that fiduciaries must focus solely on financial prudence and loyalty, potentially limiting the formal use of ESG factors.
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. Braun, Mike [R-IN].

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 2025-12-26.

CATEGORIES

Labor Benefits Economy