summary
Introduced
06/12/2023
06/12/2023
In Committee
06/12/2023
06/12/2023
Crossed Over
Passed
Dead
01/03/2025
01/03/2025
Introduced Session
118th Congress
Bill Summary
A BILL To amend the Employment Retirement Income Security Act of 1974 to prohibit plan investments in foreign adversary and sanctioned entities, require disclosure of existing investments in such entities, and for other purposes.
AI Summary
This bill, the Protecting Americans' Retirement Savings Act (PARSA), aims to amend the Employee Retirement Income Security Act of 1974 to prohibit retirement plans from investing in foreign adversary entities or sanctioned entities, as defined in the bill. The bill also requires plans to disclose any existing investments in such entities, including the aggregate value, the specific entities, and the reasons for their inclusion on relevant lists. Additionally, the bill allows plans to continue holding existing investments in these entities if they comply with certain requirements, and permits plans to fulfill existing contractual obligations related to such investments. The bill directs the Secretary to issue regulations implementing these provisions within 180 days, with the regulations taking effect no later than one year after the bill's enactment.
Committee Categories
Education
Sponsors (4)
Last Action
Referred to the House Committee on Education and the Workforce. (on 06/12/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/118th-congress/house-bill/4008/all-info |
| BillText | https://www.congress.gov/118/bills/hr4008/BILLS-118hr4008ih.pdf |
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