Securing Employee Retirement Returns Act

United States117th CongressS-4484Senate
Updated: Jun 23, 2022

Summary

Securing Employee Retirement Returns Act This bill revises the fiduciary duties for a retirement or employee benefit plan that is regulated under the Employee Retirement Income Security Act of 1974. The bill generally requires a fiduciary to select and maintain investments for a plan based solely on pecuniary factors. Under the bill, a pecuniary factor is a factor that is expected to have a material effect on the risk or return of an investment based on appropriate investment horizons that are consistent with the plan's investment objectives and funding policy. The bill allows a fiduciary to use nonpecuniary factors in certain circumstances, such as when a fiduciary (1) is unable to distinguish between investment alternatives on the basis of pecuniary factors alone, or (2) is selecting or maintaining investment alternatives for a defined contribution plan that permits a participant or beneficiary to choose from a broad range of investment alternatives.

Bill texts

Available versions
Introduced (Senate)View official text

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Timeline

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

    Senate

  2. Introduced in Senate

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