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".

Fact Sheet API

Bill Number

SJRES 8

Introduced

Feb 7, 2023

Latest Action

Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

Sponsor

Cosponsors

Topics

Administrative law and regulatory procedures Business ethics Climate change and greenhouse gases Congressional oversight Department of Labor Employee benefits and pensions Financial services and investments Labor and Employment

Full Text

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Votes

Summary

This joint resolution nullifies a Department of Labor rule concerning the fiduciary duties with respect to employee benefit plans.

Under the rule issued on December 1, 2022, plan fiduciaries may consider climate change and other environmental, social, and governance factors when they make investment decisions and when they exercise shareholder rights, including voting on shareholder resolutions and board nominations.

Actions

Feb 7, 2023

Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Feb 7, 2023

Introduced in Senate

Amendments

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