H.R. 2988 · 119th Congress
Protecting Prudent Investment of Retirement Savings Act
Where it stands
- Introduced Done · Apr 24, 2025
- Committee Done · Apr 24, 2025
- Passed House Done · Jan 15, 2026
- Passed Senate Not yet
- President Not yet
- Law Not yet
From the official actions on Congress.gov.
Key points
- What it changes
- A plain-language summary isn't ready yet. The official summary below describes the bill.
- Who it affects
- A plain-language summary isn't ready yet. The official summary below describes the bill.
- What it costs
- The Congressional Budget Office published a cost estimate on Sep 29, 2025 (as ordered reported by the House Committee on Education and Workforce on June 25, 2025): H.R. 2988, Protecting Prudent Investment of Retirement Savings Act ↗
- Where it stands
- Received in the Senate and Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (Jan 26, 2026)
- What happens next
- The Senate would need to pass it next.
Official summary
Protecting Prudent Investment of Retirement Savings Act This bill modifies the requirements for fiduciaries of employer-sponsored retirement plans. First, the bill generally requires a plan fiduciary to make investment decisions based solely 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. The bill also prohibits a plan fiduciary from discriminating when selecting, monitoring, and retaining any fiduciary, counsel, employee, or service provider of the plan. The bill requires a plan fiduciary to act solely and prudently in accordance with the interests of the plan's participants and beneficiaries when exercising a shareholder right (e.g., voting of proxies). However, the fiduciary duty to manage shareholder rights does not require the voting of every proxy or the exercise of every shareholder right. Finally, the bill requires a plan fiduciary to provide specified notices with respect to a pension plan that provides a participant or beneficiary the opportunity to select from designated investment alternatives.
Summary by the Congressional Research Service (Reported to House version), via Congress.gov. These are proposed provisions, not enacted law.
Recorded votes
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On Passage: Passed (213–205)
This vote decided whether the bill passes this chamber.Votes by party
How each party voted on roll call 31 Party Yes No Present Did not vote Share voting Yes Democratic 3 205 0 5 Republican 210 0 0 8 Independent 0 0 0 0 Party totals from the official roll call.
Map: how each state voted
Each state is shaded by the share of its U.S. House members who voted Yes, out of those who voted Yes or No. Colors show the vote, not party.
Office of the Clerk, U.S. House ↗ — includes how every member voted
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On Motion to Recommit: Failed (206–210)
This vote set how the bill is debated. It is not a vote for or against the bill.Votes by party
How each party voted on roll call 30 Party Yes No Present Did not vote Share voting Yes Democratic 206 1 0 6 Republican 0 209 0 9 Independent 0 0 0 0 Party totals from the official roll call.
Map: how each state voted
Each state is shaded by the share of its U.S. House members who voted Yes, out of those who voted Yes or No. Colors show the vote, not party.
Office of the Clerk, U.S. House ↗ — includes how every member voted
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On Agreeing to the Amendment: Agreed to (395–22)
A vote on a proposed change, not the whole bill.Votes by party
How each party voted on roll call 29 Party Yes No Present Did not vote Share voting Yes Democratic 186 22 0 5 Republican 209 0 0 9 Independent 0 0 0 0 Party totals from the official roll call.
Map: how each state voted
Each state is shaded by the share of its U.S. House members who voted Yes, out of those who voted Yes or No. Colors show the vote, not party.
Office of the Clerk, U.S. House ↗ — includes how every member voted
Vote types come from the official question text. How we label votes
Legislative history
- Jan 26, 2026Received in the Senate and Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
- Jan 15, 2026Motion to reconsider laid on the table Agreed to without objection.
- Jan 15, 2026On passage Passed by the Yeas and Nays: 213 - 205 (Roll no. 31).
- Jan 15, 2026Passed/agreed to in House: On passage Passed by the Yeas and Nays: 213 - 205 (Roll no. 31).
- Jan 15, 2026On motion to recommit Failed by the Yeas and Nays: 206 - 210 (Roll no. 30).
- Jan 15, 2026The previous question on the motion to recommit was ordered pursuant to clause 2(b) of rule XIX.
- Jan 15, 2026Ms. Kaptur moved to recommit to the Committee on Education and Workforce. (text: CR H905)
- Jan 15, 2026The previous question was ordered on the amendment and the bill pursuant to the rule.
- Jan 15, 2026DEBATE - Pursuant to the provisions of H. Res. 988, the House proceeded with 10 minutes of debate on the Huizenga amendment No. 1.
- Jan 15, 2026DEBATE - The House proceeded with one hour of debate on H.R. 2988.
- Jan 15, 2026Rule provides for consideration of H.R. 2988, H.R. 2262, H.R. 2270, H.R. 2312 and H.R. 4366. The resolution provides for consideration of H.R. 2988 under a structured rule, and H.R. 2262, H.R. 2270, H.R. 2312, and H.R. 4366 under a closed rule. The rule provides for one hour of general debate and one motion to recommit on each bill.
- Jan 15, 2026Considered under the provisions of rule H. Res. 988. (consideration: CR H897-907; text of amendment in the nature of a substitute: CR H897-899)
- Jan 12, 2026Rules Committee Resolution H. Res. 988 Reported to House. Rule provides for consideration of H.R. 2988, H.R. 2262, H.R. 2270, H.R. 2312 and H.R. 4366. The resolution provides for consideration of H.R. 2988 under a structured rule, and H.R. 2262, H.R. 2270, H.R. 2312, and H.R. 4366 under a closed rule. The rule provides for one hour of general debate and one motion to recommit on each bill.
- Dec 30, 2025Placed on the Union Calendar, Calendar No. 367.
- Dec 30, 2025Reported (Amended) by the Committee on Education and Workforce. H. Rept. 119-421.
- Dec 30, 2025Reported (Amended) by the Committee on Education and Workforce. H. Rept. 119-421.
- Jun 25, 2025Ordered to be Reported (Amended) by the Yeas and Nays: 21 - 15.
- Jun 25, 2025Committee Consideration and Mark-up Session Held
- Apr 24, 2025Referred to the House Committee on Education and Workforce.
- Apr 24, 2025Introduced in House
- Apr 24, 2025Introduced in House