This bill amends the Employee Retirement Income Security Act of 1974 (ERISA) to safeguard American retirement funds by restricting certain investments. It prohibits fiduciaries of employee benefit plans from engaging in transactions that would lead to the plan acquiring interests in, lending money to, or transferring assets or data to designated foreign adversary entities or sanctioned entities . This measure is designed to prevent retirement savings from inadvertently supporting potentially hostile foreign interests or entities involved in concerning activities. The legislation introduces new disclosure requirements, compelling fiduciaries to provide detailed statements of all plan assets held in sanctioned entities, including their aggregate value and the specific government lists on which these entities appear. Similarly, plans must disclose interests in foreign adversary entities, specifying the value, the investment vehicle used, and the fiduciary responsible for the investment, along with their rationale for maintaining it. These disclosures aim to increase transparency regarding plan investments. While prohibiting new investments, the bill allows plans to continue holding existing investments in covered entities if fiduciaries comply with the new disclosure rules. It also permits the fulfillment of pre-enactment contractual obligations to invest in such entities until their expiration or termination, provided mandatory disclosures are made. The Secretary of Labor is directed to issue implementing regulations within 180 days of enactment, with these regulations taking effect no later than one year after the Act's enactment.