What does Preamble of HR 2067 do?

This bill proposes to amend the Employment Retirement Income Security Act of 1974. The proposed amendment would prohibit retirement plans from investing in foreign adversary and sanctioned entities. The bill also requires disclosure of existing investments in such entities.

What does SHORT TITLE. of HR 2067 do?

This bill is formally titled Protecting Americans' Retirement Savings Act.

What does PROHIBITION ON INVESTMENT IN CERTAIN ENTITIES. of HR 2067 do?

This section amends the Employee Retirement Income Security Act of 1974 to prohibit fiduciaries of employee retirement plans from engaging in certain transactions with 'covered entities'. Covered entities are defined as 'foreign adversary entities or sanctioned entities' as defined in section 103(h). Prohibited transactions include acquiring an interest, lending money, furnishing goods or services, and transferring assets or data to a covered entity. Plans holding investments in covered entities on the enactment date may continue to hold them if fiduciaries comply with section 103(b)(3) subparagraphs (I) and (J). Plans with binding agreements entered into before enactment to engage in prohibited transactions may fulfill those agreements if fiduciaries comply with section 103(b)(3) subparagraphs (I), (J), and (K) until the agreement expires or allows for termination.

What does ADDITIONAL DISCLOSURES FOR EMPLOYEE RETIREMENT FUNDS. of HR 2067 do?

This section amends Section 103(b)(3) of the Employee Retirement Income Security Act of 1974 to require additional disclosures related to assets held by employee retirement funds. Funds must disclose assets consisting of interests in sanctioned entities, including their aggregate value and the identity of the entities. Funds must also disclose assets consisting of interests in foreign adversary entities, providing details like value, interest type, investment vehicle, and fiduciary responsible. The section requires a description of ongoing agreements subject to section 404(a)(3)(D). It defines terms such as 'control,' 'foreign adversary,' 'foreign adversary entity,' 'sanctioned entity,' and 'interest' for the purposes of this section. A 'sanctioned entity' is defined as an entity listed on various lists maintained by agencies like the Department of the Treasury and the Department of Commerce.

Back to bills

PARSA — HR. 2067

Last updated: 3/11/2025 · Introduced: 3/11/2025

Author: John Moolenaar (R-MI)

TL;DR (AI)

This bill amends the Employment Retirement Income Security Act of 1974 to prohibit employee retirement plans from investing in or engaging in transactions with foreign adversary and sanctioned entities.
The bill requires employee retirement funds to disclose their holdings in sanctioned and foreign adversary entities, including details about the value, type of interest, and investment vehicle.
Existing investments in covered entities are permitted to continue under certain conditions, and binding agreements entered into before the bill's enactment can be fulfilled with specific fiduciary compliance.

119th Congressin committeeOfficial page

Verified Votes

No verified votes yet.

Community Votes

No community votes yet. Be the first!

Voting as guest · Sign in for verified votes

Other Sections

Includes provisions on preamble, short title., and 2 more.

4 sections

Click "Show details" to explore individual sections. Use the community vote above or visit All Sections to vote per section.

Read official text

Want the full experience?

Create a free account to cast verified votes on each section, get a personalized summary, and track your voting history.

Create Free Account