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Retirement Investments: Allowing Consideration of Environmental and Social Factors.

This law changes the rules for managing your retirement savings, such as 401(k) plans. It explicitly allows fund managers (fiduciaries) to consider environmental, social, and governance (ESG) factors when making investment decisions. This means your money can be invested in more sustainable companies, provided these investments still serve your best financial interests.
Key points
Retirement fund managers can now officially consider environmental and social issues (ESG) when selecting investments.
ESG factors can be used as a tie-breaker when two investments offer the same expected return and risk.
The changes apply to retirement plans covered by the ERISA law, affecting millions of Americans saving for retirement.
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Additional Information
Print number: 118_S_523
Sponsor: Sen. Smith, Tina [D-MN]
Process start date: 2023-02-16
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-flash-latest
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Freedom to Invest in a Sustainable Future Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_523.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-02-16.

What are the main provisions?

Key points include:

  • Retirement fund managers can now officially consider environmental and social issues (ESG) when selecting investments.
  • ESG factors can be used as a tie-breaker when two investments offer the same expected return and risk.
  • The changes apply to retirement plans covered by the ERISA law, affecting millions of Americans saving for retirement.
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. Smith, Tina [D-MN].

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 Economy