Bill > HR9066

This bill, the Retirement Savings Modernization Act, amends the Employee Retirement Income Security Act (ERISA) to clarify the fiduciary duties of plan fiduciaries regarding the selection and monitoring of various asset classes, including commodities, debt, digital assets, hedge funds, infrastructure, insured products and annuities, private equity, real assets, real estate, securities listed on national exchanges, and venture capital. Specifically, the bill states that a fiduciary will not be liable for a breach of fiduciary duties solely for recommending, selecting, or monitoring any of these "covered investments" as investment options for a plan or causing the plan to make payments or incur expenses associated with such investments. However, the bill does not provide an exemption or safe harbor from the general fiduciary duties under ERISA.

Education

https://www.congress.gov/bill/117th-congress/house-bill/9066/all-info