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A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to "Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights".

12/15/2023, 2:44 PM

Summary of Bill SJRES 68

Bill 117 SJRes 68 is a joint resolution that aims to disapprove a rule submitted by the Department of Labor regarding "Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights." The rule in question falls under chapter 8 of title 5, United States Code.

The resolution seeks to challenge the Department of Labor's regulation, which outlines guidelines for selecting plan investments and exercising shareholder rights. Critics of the rule argue that it may impose unnecessary burdens on employers and plan fiduciaries, potentially hindering their ability to make sound investment decisions.

Supporters of the resolution believe that the rule could lead to increased costs and regulatory complexity for retirement plans, ultimately harming the financial well-being of workers and retirees. They argue that the rule may also infringe on the rights of plan fiduciaries to act in the best interests of their beneficiaries. Overall, Bill 117 SJRes 68 is a contentious piece of legislation that highlights the ongoing debate surrounding the Department of Labor's regulations on plan investments and shareholder rights. It will be interesting to see how Congress ultimately decides to address this issue.

Current Status of Bill SJRES 68

Bill SJRES 68 is currently in the status of Bill Introduced since December 15, 2022. Bill SJRES 68 was introduced during Congress 117 and was introduced to the Senate on December 15, 2022.  Bill SJRES 68's most recent activity was Read twice and referred to the Committee on Health, Education, Labor, and Pensions. as of December 15, 2022

Bipartisan Support of Bill SJRES 68

Total Number of Sponsors
1
Democrat Sponsors
0
Republican Sponsors
1
Unaffiliated Sponsors
0
Total Number of Cosponsors
8
Democrat Cosponsors
0
Republican Cosponsors
8
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill SJRES 68

Primary Policy Focus

Labor and Employment

Potential Impact Areas

- Administrative law and regulatory procedures
- Business ethics
- Climate change and greenhouse gases
- Congressional oversight
- Department of Labor
- Employee benefits and pensions
- Financial services and investments

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