Congress 118 - HR 5339 - Protecting Americans’ Investments from Woke Policies Act

Sponsor

Rep. Rick W. Allen (R-GA)

Cosponsors

Topics

Business ethics Employee benefits and pensions Financial services and investments Labor and Employment

Full Text

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Votes

Summary

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.

Actions

Sep 19, 2024

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Sep 18, 2024

Motion to reconsider laid on the table Agreed to without objection.
Sep 18, 2024

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)
Sep 18, 2024

Passed/agreed to in House: 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)
Sep 18, 2024

On motion to recommit Failed by the Yeas and Nays: 206 - 213 (Roll no. 426).
Sep 18, 2024

Considered as unfinished business. (consideration: CR H5370-5372)
Sep 18, 2024

POSTPONED PROCEEDINGS - At the conclusion of debate on H.R. 5339, the Chair put the question on the motion to recommit and by voice vote announced that the noes had prevailed. Mr. Kildee demanded the yeas and nays and the Chair postponed further proceedings until a time to be announced.
Sep 18, 2024

The previous question on the motion to recommit was ordered pursuant to clause 2(b) of rule XIX.
Sep 18, 2024

Mr. Kildee moved to recommit to the Committee on Education and the Workforce. (text: CR H5349-5350)
Sep 18, 2024

The previous question was ordered pursuant to the rule.
Sep 18, 2024

DEBATE - The House resumed debate on H.R. 5339.
Sep 18, 2024

WORDS TAKEN DOWN - During the course of debate, exception was taken to certain words used and a demand was made to have the words taken down. Subsequently, the objection was withdrawn.
Sep 18, 2024

DEBATE - The House proceeded with one hour of debate on H.R. 5339.
Sep 18, 2024

Rule provides for consideration of H.R. 3724, H.R. 4790, H.R. 5179, H.R. 5339, H.R. 5717, H.R. 7909 and H.J. Res. 136. The resolution provides for consideration of H.R. 3724 and H.R. 5717 under a structured rule and H.R. 4790, H.R. 5179, H.R. 5339, H.R. 7909, and H.J. Res. 136 under a closed rule. The resolution provides for one hour of general debate and one motion to recommit on each measure.
Sep 18, 2024

Considered under the provisions of rule H. Res. 1455. (consideration: CR H5343-5350)
Sep 17, 2024

Rules Committee Resolution H. Res. 1455 Reported to House. Rule provides for consideration of H.R. 3724, H.R. 4790, H.R. 5179, H.R. 5339, H.R. 5717, H.R. 7909 and H.J. Res. 136. The resolution provides for consideration of H.R. 3724 and H.R. 5717 under a structured rule and H.R. 4790, H.R. 5179, H.R. 5339, H.R. 7909, and H.J. Res. 136 under a closed rule. The resolution provides for one hour of general debate and one motion to recommit on each measure.
Sep 26, 2023

Placed on the Union Calendar, Calendar No. 184.
Sep 26, 2023

Reported (Amended) by the Committee on Education and the Workforce. H. Rept. 118-225.
Sep 14, 2023

Ordered to be Reported (Amended) by the Yeas and Nays: 23 - 19.
Sep 14, 2023

Committee Consideration and Mark-up Session Held
Sep 5, 2023

Referred to the House Committee on Education and the Workforce.
Sep 5, 2023

Introduced in House

Amendments

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