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Sponsored by Rep. Rick W. Allen (R-GA) · 0 active
Latest action: Received in the Senate and Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Protecting Prudent Investment of Retirement Savings Act
This bill modifies the requirements for fiduciaries of employer-sponsored retirement plans.
First, the bill generally requires a plan fiduciary to make investment decisions based solely 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.
The bill also prohibits a plan fiduciary from discriminating when selecting, monitoring, and retaining any fiduciary, counsel, employee, or service provider of the plan.
The bill requires a plan fiduciary to act solely and prudently in accordance with the interests of the plan's participants and beneficiaries when exercising a shareholder right (e.g., voting of proxies). However, the fiduciary duty to manage shareholder rights does not require the voting of every proxy or the exercise of every shareholder right.
Finally, the bill requires a plan fiduciary to provide specified notices with respect to a pension plan that provides a participant or beneficiary the opportunity to select from designated investment alternatives.
Each member’s recorded vote compared with their swing projection from before the vote. A member by voting against most of their own party.
| BandBand before the vote | VotedVoted yea or nay | BrokeBroke with party | Share |
|---|---|---|---|
| Swing | 35 | 2 | 6% |
| Middle | 238 | 0 | 0% |
| Entrenched | 142 | 1 | 1% |
| All |
Members fall into . 2 representatives don’t have enough data yet and are marked “insufficient data”. Non-voting delegates are not counted. The bill is not before the House right now; these scores show where members would stand.
Bars show each input from 0 to 100: ideology gap, scorecard gap, . is the seat’s partisan lean, and shows how much of the input data a score has. Where the House has voted, each member’s appears with the projection made before it.
Loading similar votes
This bill has no cosponsors.
| 415 |
| 3 |
| 1% |
: Pair any member who broke with one who stayed with their party: in 69% of those pairs, the one who broke had the higher swing score before the vote. Chance would be 50%.
Projections from swing-v2, computed with data from before the vote. Present and not voting never count as breaking.
These members have less than half of the model’s inputs, so their scores are not banded or ranked.
Ringed dots broke with their party on the vote.
Ideology is each member’s score. The cluster low on the chart includes the bill’s 1 sponsor and cosponsor in the House: they have already committed, so they score as entrenched. 2 representatives without a DW-NOMINATE score or with insufficient data are not plotted.
Similar votes count toward swing-v3 in the House: total similarity weight 14.0 (needs 5.0).
