Protecting Prudent Investment of Retirement Savings Act
Introduced Apr 24, 2025 by Rep. Rick W. Allen
The House passed it. The Senate has to pass it before it can reach the President.
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.
Read the full summary on Congress.govSummary by the Congressional Research Service.
- Jan 26, 2026Received in the Senate and Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
- Jan 15, 2026Motion to reconsider laid on the table Agreed to without objection.
- Jan 15, 2026On passage Passed by the Yeas and Nays: 213 - 205 (Roll no. 31).
- Jan 15, 2026Passed/agreed to in House: On passage Passed by the Yeas and Nays: 213 - 205 (Roll no. 31).
- Jan 15, 2026On motion to recommit Failed by the Yeas and Nays: 206 - 210 (Roll no. 30).
- Jan 15, 2026The previous question on the motion to recommit was ordered pursuant to clause 2(b) of rule XIX.
- Jan 15, 2026Ms. Kaptur moved to recommit to the Committee on Education and Workforce. (text: CR H905)
- Jan 15, 2026The previous question was ordered on the amendment and the bill pursuant to the rule.
- Jan 15, 2026DEBATE - Pursuant to the provisions of H. Res. 988, the House proceeded with 10 minutes of debate on the Huizenga amendment No. 1.
- Jan 15, 2026DEBATE - The House proceeded with one hour of debate on H.R. 2988.
- Jan 15, 2026Rule provides for consideration of H.R. 2988, H.R. 2262, H.R. 2270, H.R. 2312 and H.R. 4366. The resolution provides for consideration of H.R. 2988 under a structured rule, and H.R. 2262, H.R. 2270, H.R. 2312, and H.R. 4366 under a closed rule. The rule provides for one hour of general debate and one motion to recommit on each bill.
- Jan 15, 2026Considered under the provisions of rule H. Res. 988. (consideration: CR H897-907; text of amendment in the nature of a substitute: CR H897-899)
- Jan 12, 2026Rules Committee Resolution H. Res. 988 Reported to House. Rule provides for consideration of H.R. 2988, H.R. 2262, H.R. 2270, H.R. 2312 and H.R. 4366. The resolution provides for consideration of H.R. 2988 under a structured rule, and H.R. 2262, H.R. 2270, H.R. 2312, and H.R. 4366 under a closed rule. The rule provides for one hour of general debate and one motion to recommit on each bill.
- Dec 30, 2025Placed on the Union Calendar, Calendar No. 367.
- Dec 30, 2025Reported (Amended) by the Committee on Education and Workforce. H. Rept. 119-421.
- Jun 25, 2025Ordered to be Reported (Amended) by the Yeas and Nays: 21 - 15.
- Jun 25, 2025Committee Consideration and Mark-up Session Held
- Apr 24, 2025Referred to the House Committee on Education and Workforce.
- Apr 24, 2025Introduced in House