H.R. 5339
Requires retirement plan managers to choose investments based only on financial returns, not ESG factors.
Low confidence
AI score: +1 from claude-opus-5-5. Compare the models
Limits climate-related considerations in retirement investing.
Low confidence
AI score: −1 from claude-opus-5-5. Compare the models
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.
Summary by the Congressional Research Service, reported to house version.
On Passage, Sep 18, 2024 · Passed