Protecting Americans’ Investments from Woke Policies Act

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.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 5 September 2023

   Introduced

   Referred to the House Committee on Education and the Workforce.

   Source: IntroReferral

2. 5 September 2023

   Introduced

   Introduced in House

   Source: IntroReferral

3. 5 September 2023

   Introduced

   Introduced in House

   Source: IntroReferral

4. 14 September 2023

   Vote

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

   Source: Committee

5. 14 September 2023

   Committee

   Committee Consideration and Mark-up Session Held

   Source: Committee

6. 26 September 2023

   Calendars

   Placed on the Union Calendar, Calendar No. 184.

   Source: Calendars

7. 26 September 2023

   Reported

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

   Source: Committee

8. 26 September 2023

   Reported

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

   Source: Committee

9. 17 September 2024

   Reported

   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.

   Source: Floor

10. 18 September 2024

    Passed

    Motion to reconsider laid on the table Agreed to without objection.

    Source: Floor

11. 18 September 2024

    Vote

    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)

    Source: Floor

12. 18 September 2024

    Vote

    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)

    Source: Floor

13. 18 September 2024

    Vote

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

    Source: Floor

14. 18 September 2024

    Floor

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

    Source: Floor

15. 18 September 2024

    Floor

    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.

    Source: Floor

16. 18 September 2024

    Floor

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

    Source: Floor

17. 18 September 2024

    Floor

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

    Source: Floor

18. 18 September 2024

    Floor

    The previous question was ordered pursuant to the rule.

    Source: Floor

19. 19 September 2024

    Introduced

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

    Source: IntroReferral

Votes

Versions

• Referred in Senate · 19 September 2024 · Download file
• Engrossed in House · 18 September 2024 · Download file
• Reported in House · 26 September 2023 · Download file
• Introduced in House · 5 September 2023 · Download file

Documents

10 official files

• Referred in Senate (text)

  Referred in Senate · EN · 19 September 2024

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• Referred in Senate (PDF)

  Referred in Senate · EN · 19 September 2024

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• Engrossed in House (text)

  Engrossed in House · EN · 18 September 2024

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• Engrossed in House (PDF)

  Engrossed in House · EN · 18 September 2024

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• Reported in House (text)

  Reported in House · EN · 26 September 2023

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• Reported in House (PDF)

  Reported in House · EN · 26 September 2023

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• Reported to House

  summary · EN · 26 September 2023

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• Introduced in House (text)

  Introduced in House · EN · 5 September 2023

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• Introduced in House (PDF)

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• Introduced in House

  summary · EN · 5 September 2023

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Sponsors

• Rep. Allen, Rick W. [R-GA-12] · R · Sponsor
• Rep. Houchin, Erin [R-IN-9] · R · Cosponsor
• · ssbk00 · Standing
• · hsed00 · Standing

Related records

• related to → Ensuring Sound Guidance Act
• related to → Ensuring Sound Guidance Act
• related to ← Providing for consideration of the bill (H.R. 3724) to amend the Higher Education Act of 1965 to prohibit recognized accrediting agencies and associations from requiring, encouraging, or coercing institutions of higher education to meet any political litmus test or violate any right protected by the Constitution as a condition of accreditation; providing for consideration of the bill (H.R. 4790) to amend the Federal securities laws with respect to the materiality of disclosure requirements, to establish the Public Company Advisory Committee, and for other purposes; providing for consideration of the bill (H.R. 5179) to require the maintenance of the country of origin markings for imported goods produced in the West Bank or Gaza, and for other purposes; providing for consideration of the bill (H.R. 5339) to amend the Employee Retirement Income Security Act of 1974 to specify requirements concerning the consideration of pecuniary and non-pecuniary factors, and for other purposes; providing for consideration of the bill (H.R. 5717) to provide that sanctuary jurisdictions that provide benefits to aliens who are present in the United States without lawful status under the immigration laws are ineligible for Federal funds intended to benefit such aliens; providing for consideration of the bill (H.R. 7909) to amend the Immigration and Nationality Act to provide that aliens who have been convicted of or who have committed sex offenses or domestic violence are inadmissible and deportable; and providing for consideration of the joint resolution (H.J. Res. 136) providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Environmental Protection Agency relating to "Multi-Pollutant Emissions Standards for Model Years 2027 and Later Light-Duty and Medium-Duty Vehicles".
• amends ← Pursuant to the provisions of H. Res. 1455, in lieu of the amendment in the nature of a substitute recommended by the Committee on Education and the Workforce now printed in the bill, an amendment in the nature of a substitute consisting of the text of Rules Committee Print 118-50 is considered adopted.