Retirement Proxy Protection Act

Hozzl · 2025-03-24T13:23:23Z

Explore the details of House Bill 1996 Retirement Proxy Protection Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on undefined. Stay informed on legislative developments.

3/24/2025, 1:23 PM

Summary of Bill HR 1996

Bill 119 HR 1996, also known as the "Shareholder Rights Clarification Act," aims to amend the Employee Retirement Income Security Act of 1974 (ERISA) to provide clarity on how fiduciary duties apply to the exercise of shareholder rights.

The bill specifically focuses on the duties of prudence and exclusive purpose when it comes to shareholders' rights. It seeks to ensure that fiduciaries managing retirement plans, such as 401(k) plans, act in the best interests of the plan participants when exercising shareholder rights, such as voting on corporate governance issues.

By clarifying the application of these duties, the bill aims to provide greater transparency and accountability in the management of retirement plans. This will help protect the retirement savings of millions of Americans who rely on these plans for their financial security. Overall, the Shareholder Rights Clarification Act is designed to strengthen the protections for retirement plan participants and ensure that fiduciaries act responsibly when exercising shareholder rights on their behalf.

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Current Status of Bill HR 1996

Bill HR 1996 is currently in the status of Bill Introduced since March 10, 2025. Bill HR 1996 was introduced during Congress 119 and was introduced to the House on March 10, 2025. Bill HR 1996's most recent activity was Referred to the House Committee on Education and Workforce. as of March 10, 2025

Bipartisan Support of Bill HR 1996

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Policy Area and Potential Impact of Bill HR 1996

Primary Policy Focus

Alternate Title(s) of Bill HR 1996

To amend the Employee Retirement Income Security Act of 1974 to clarify the application of prudence and exclusive purpose duties to the exercise of shareholder rights.