EMPOWERS Act

Summary

Encouraging More Proxy voting by Organized Workers, Employees, and Retirement Savers Act or the EMPOWERS Act This bill modifies the requirements for single-employer retirement plans with respect to the fiduciaries and proxy voting procedures for such plans. Specifically, it requires the assets of such plans to be held in trust by a joint board of trustees that represents the interests of the employer and the interests of the plan participants and their beneficiaries on an equal basis. Additionally, the trustees of each plan must undergo training and establish proxy voting guidelines for the plan. In exercising a plan's proxy voting rights, a fiduciary may consider (1) the investment objectives of the plan participants and their beneficiaries, and (2) certain effects of negative externalities generated by portfolio companies.

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Timeline

1. 18 May 2021

   Introduced

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

   Source: IntroReferral

2. 18 May 2021

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 18 May 2021 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 18 May 2021

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 18 May 2021

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 18 May 2021

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Baldwin, Tammy [D-WI] · D · Sponsor
• Sen. Sanders, Bernard [I-VT] · I · Sponsor
• Sen. Warren, Elizabeth [D-MA] · D · Sponsor
• Sen. Merkley, Jeff [D-OR] · D · Sponsor
• Sen. Markey, Edward J. [D-MA] · D · Sponsor
• Sen. Booker, Cory A. [D-NJ] · D · Sponsor
• Sen. Blumenthal, Richard [D-CT] · D · Sponsor
• · sshr00 · Standing

Related records

• related to ← EMPOWERS Act