PARSA

IntroducedMarch 11, 2025

Introduced1 year ago

Intro

House

Senate

Pres

Introduced in House

Labor and EmploymentAsiaChinaAdministrative law and regulatory proceduresBank accounts, deposits, capitalSanctionsEmployee benefits and pensionsFinancial services and investmentsDepartment of LaborU.S. and foreign investments

Why This Matters

This bill would amend the Employee Retirement Income Security Act of 1974 (ERISA) to bar employer retirement plans from investing in companies designated as foreign adversaries or under U.S. sanctions. It also requires plan managers to report any current investments in these entities and sets deadlines for new rules.

Who this affects

Retirement plan sponsors · Plan participants

What changes is this bill making?

1Prohibits retirement plan managers from acquiring interests in or transacting with entities defined as foreign adversary entities or sanctioned entities.
2Allows plans holding such investments or bound by agreements before enactment to continue under specific disclosure requirements until those agreements expire or are terminated.
3Requires plans to disclose assets in sanctioned entities, including total value, identities of each entity, applicable lists, and listing reasons.
4Requires plans to disclose assets in foreign adversary entities, including total value, specific interests, investment vehicles, responsible fiduciaries, and factors considered.
5Requires plans to describe ongoing contractual obligations related to covered entities, noting involved assets and expiration or termination dates.
6Directs the Department of Labor Secretary to issue implementing regulations within 180 days, with the rules effective no later than one year after enactment.
7Defines key terms such as foreign adversary, foreign adversary entity, sanctioned entity, and interest in the statute.

Read full document

Last changed 4 months ago · checked hourly

PARSA

IntroducedMarch 11, 2025

Introduced1 year ago

Intro

House

Senate

Pres

Introduced in House

Why This Matters

Who this affects

Retirement plan sponsors · Plan participants

What changes is this bill making?

1Prohibits retirement plan managers from acquiring interests in or transacting with entities defined as foreign adversary entities or sanctioned entities.
2Allows plans holding such investments or bound by agreements before enactment to continue under specific disclosure requirements until those agreements expire or are terminated.
3Requires plans to disclose assets in sanctioned entities, including total value, identities of each entity, applicable lists, and listing reasons.
4Requires plans to disclose assets in foreign adversary entities, including total value, specific interests, investment vehicles, responsible fiduciaries, and factors considered.
5Requires plans to describe ongoing contractual obligations related to covered entities, noting involved assets and expiration or termination dates.
6Directs the Department of Labor Secretary to issue implementing regulations within 180 days, with the rules effective no later than one year after enactment.
7Defines key terms such as foreign adversary, foreign adversary entity, sanctioned entity, and interest in the statute.

Read full document

Last changed 4 months ago · checked hourly