PARSA

Bill 119 HR 2067, also known as the "Protecting American Retirement Savings Act," aims to amend the Employment Retirement Income Security Act of 1974 (ERISA) to prevent retirement plans from investing in foreign adversary and sanctioned entities. The bill also requires disclosure of any existing investments in such entities.

The main goal of this legislation is to protect American retirement savings from being used to support entities that pose a threat to national security or are subject to sanctions. By prohibiting plan investments in these entities, the bill seeks to ensure that retirement funds are not inadvertently supporting activities that are harmful to the United States.

In addition to prohibiting investments in foreign adversary and sanctioned entities, the bill also requires plan administrators to disclose any existing investments in such entities. This transparency measure is intended to ensure that plan participants are aware of where their retirement funds are being invested and can make informed decisions about their investments. Overall, the Protecting American Retirement Savings Act is aimed at safeguarding retirement savings and ensuring that they are not being used to support entities that are hostile to the United States. By prohibiting investments in foreign adversary and sanctioned entities and requiring disclosure of existing investments, the bill seeks to protect the financial security of American retirees.