Federal · H.R. 5339 · 118th Congress
RETIRE Act
This bill generally requires fiduciaries of employer-sponsored retirement plans to make investment decisions based only on pecuniary factors (i.e., factors that a fiduciary prudently determines are expected to have a material effect on the risk or return of an investment based on appropriate investment horizons consistent with the plan's policies and objectives). The bill allows nonpecuniary factors to be considered in certain situations, such as when selecting investment options for certain participant-directed retirement plans or if the fiduciary is unable to distinguish between investment alternatives on the basis of pecuniary factors alone.
First two sentences of the Congressional Research Service's summary · Congress.gov ↗
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Latest final vote: Passed · U.S. House · Sep 18, 2024
Official record ↗Constitution
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All votes
By party
| Party | Yes | No | Present | Not voting |
|---|---|---|---|---|
| Republican | 184 | 0 | 0 | 4 |
| Democratic | 2 | 177 | 0 | 1 |
| Democrat | 0 | 6 | 0 | 0 |
| Independent | 1 | 0 | 0 | 0 |
By state (48)
| State | Yes | No | Present | Not voting |
|---|---|---|---|---|
| AL | 5 | 1 | 0 | 0 |
| AR | 4 | 0 | 0 | 0 |
| AZ | 5 | 2 | 0 | 0 |
| CA | 12 | 40 | 0 | 0 |
| CO | 1 | 4 | 0 | 0 |
| CT | 0 | 5 | 0 | 0 |
| DE | 0 | 1 | 0 | 0 |
| FL | 16 | 7 | 0 | 1 |
| GA | 7 | 4 | 0 | 0 |
| HI | 0 | 2 | 0 | 0 |
| IA | 4 | 0 | 0 | 0 |
| ID | 2 | 0 | 0 | 0 |
| IL | 3 | 14 | 0 | 0 |
| IN | 5 | 2 | 0 | 0 |
| KS | 2 | 1 | 0 | 0 |
| KY | 5 | 1 | 0 | 0 |
| LA | 4 | 1 | 0 | 0 |
| MA | 0 | 9 | 0 | 0 |
| MD | 1 | 4 | 0 | 0 |
| ME | 1 | 1 | 0 | 0 |
| MI | 6 | 6 | 0 | 0 |
| MN | 4 | 3 | 0 | 0 |
| MO | 5 | 1 | 0 | 0 |
| MS | 3 | 1 | 0 | 0 |
| MT | 1 | 0 | 0 | 0 |
| NC | 5 | 4 | 0 | 0 |
| NE | 2 | 0 | 0 | 1 |
| NH | 0 | 1 | 0 | 0 |
| NJ | 3 | 6 | 0 | 0 |
| NM | 0 | 3 | 0 | 0 |
| NV | 1 | 3 | 0 | 0 |
| NY | 5 | 15 | 0 | 2 |
| OH | 9 | 5 | 0 | 0 |
| OK | 5 | 0 | 0 | 0 |
| OR | 1 | 3 | 0 | 0 |
| PA | 8 | 6 | 0 | 1 |
| RI | 0 | 2 | 0 | 0 |
| SC | 5 | 1 | 0 | 0 |
| SD | 1 | 0 | 0 | 0 |
| TN | 7 | 1 | 0 | 0 |
| TX | 22 | 11 | 0 | 0 |
| UT | 4 | 0 | 0 | 0 |
| VA | 4 | 3 | 0 | 0 |
| VT | 0 | 1 | 0 | 0 |
| WA | 2 | 6 | 0 | 0 |
| WI | 5 | 2 | 0 | 0 |
| WV | 1 | 0 | 0 | 0 |
| WY | 1 | 0 | 0 | 0 |
The breakdown counts the 375 members whose positions are loaded; the totals above are the official record's.
Party is as each member's record lists it. Counts are of recorded positions, nothing more.
Every member's vote
375 members, by last name.
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Money
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History
- Sep 18, 2024U.S. House: On Passage · Passed ↗
- Sep 18, 2024U.S. House: On Motion to Recommit · Failed ↗
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Final action
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From Congress.gov's record of the bill's actions.
Full text
Official summary (Congressional Research Service)
Roll back ESG To Increase Retirement Earnings Act or the RETIRE Act This bill generally requires fiduciaries of employer-sponsored retirement plans to make investment decisions based only on pecuniary factors (i.e., factors that a fiduciary prudently determines are expected to have a material effect on the risk or return of an investment based on appropriate investment horizons consistent with the plan's policies and objectives). The bill allows nonpecuniary factors to be considered in certain situations, such as when selecting investment options for certain participant-directed retirement plans or if the fiduciary is unable to distinguish between investment alternatives on the basis of pecuniary factors alone.
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