Protecting Prudent Investment of Retirement Savings Act

Sponsor: Rick Allen (R-GA)

This bill modifies the requirements for fiduciaries of employer-sponsored retirement plans. , 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.

Labor and Employment Topic assigned by the Congressional Research Service.