,,ii  #aag? ,,congress  #a/ ,session    
,s4 #ahae  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,may #be1 #bjba,mr4    
,w>n] introduc$ ! foll[+ bill2 :i* 0    
read twice & ref]r$ to ! ,committee on  
,bank+1 ,h\s+1 & ,urban ,affairs  ,a    
,,bill  ,to am5d ! ,securities ,ex*ange 
,act ( #aicd to require issu]s to       
disclose to ! ,securities & ,ex*ange    
,commission in=mation reg>d+ work=ce    
managem5t policies1 practices1 &        
p]=mance1 & = o!r purposes4  #a4 ,%ort  
title ,?is ,act may be cit$ z ! ,work=ce
 ,inve/m5t ,disclosure ,act ( #bjba4    
#b4 ,f9d+s ,congress f9ds ! foll[+3 7#a7
 ,"o ( ! keys to ! #bj? c5tury po/-w>   
economic success ( ! ,unit$ ,/ates 0 !  
ability to prep>e work]s ov] ! c\rse (  
_! lives = success ?r\gh multiple       
sectors across society4 ,un=tunately1   
dur+ ! sev]al decades prec$+ ! date (   
enactm5t ( ?is ,act1 !re has be5 a %ift 
9 bus9ess norms & 9 society4 ,:ile      
,congress recognizes t ! te*nology & job
 skills requir$ = "s jobs has *ang$     

dramatically1 ! private & public        
p>tn]%ip to hire work]s at diff]5t      
education levels & inve/ 9 !m = !       
long-t]m is brok54  7#b7 ,available data
 f ! #aj-ye> p]iod prec$+ ! date (      
enactm5t ( ?is ,act sugge/s t bus9esses 
are inve/+ less 9 work] tra9+ dur+ t "t 
p]iod1 n m4  7#c7 ,9 ! wake ( ! #bjjh   
global f9ancial crisis1 !re 0 a         
well-docum5t$ decl9e 9 ov]all bus9ess   
inve/m5t4 ,t decl9e co9cides ) ! wage   
pol>ization ( work]s & an increase 9    
sp5d+ on %>e buybacks & divid5ds1 lead+ 
sev]al rese>*]s to conclude t companies 
are de-emphasiz+ inve/m5t at ! exp5se ( 
increas+ returns = %>ehold]s4 ,! onset (
 a global p&emic may make t tr5d worse1 
especially ) respect to inve/m5ts 9     
work]s4  7#d7 ,z "p ( ! ov]all decl9e 9 
inve/m5t describ$ 9 p>agraph 7#c71      
publicly trad$ companies are be+ provid$
 ) inc5tives to prioritize inve/m5ts 9  
physical assets ov] inve/m5ts 9 _!      
work=ces1 mean+ t ^? companies are      
inve/+ 9 robots in/ead ( individuals4 ,9

 fact1 !re are already signs t          
automation has increas$ dur+ !          
,,covid-#ai p&emic4  7#e7 ,m ?an ev]1 ! 
,f$]al ,gov]nm5t1 ?r\gh company         
disclosure practices1 ne$s to und]/&    
exactly h[ companies are inve/+ 9 _!    
work]s4 ,ov] ! sev]al mon?s prec$+ !    
date ( enactm5t ( ?is ,act1 companies   
across ! ,unit$ ,/ates h tak5 extreme   
actions to adapt & respond to evolv+    
work=ce *all5ges pres5t$ by ,,covid-#ai4
  7#f7 ,,j ,capital has be5 track+ !    
responses ( ! ,/&>d & ,poor's #ajj l>ge/
 public companies to _! work]s & has    
f\nd wide v>iation 9 ! policies         
implem5t$1 z well z ) respect to !      
disclosure ( ^? policies4 ,?r\gh diff]5t
 responses to _! work=ces1 f lay(fs to  
workplace safety to paid leave1 !       
,,covid-#ai p&emic is expos+ ! myriad   
ways t work=ce managem5t practices (    
companies pose op]ational & reputational
 risks = %ort- & long-t]m f9ancial      
p]=mance4  7#g7 ,ev5 be=e ! ,,covid-#ai 
p&emic1 !re 0 a gr[+ body ( rese>*      

e/abli%+ a relation%ip betwe5 measurable
 work=ce managem5t1 :i* is ! way t      
companies manage _! employees1 & firm   
p]=mance4 ,9 a /udy ( #b1jjj l>ge       
companies1 ,h>v>d ,law ,s*ool's ,labor &
 ,"w ,life ,program f\nd t =w>d-?9k+    
work=ce policies t prioritize work]s1   
su* z h[ companies tra91 reta91 & pay _!
 work]s1 are correlat$ ) long-t]m       
f9ancial p]=mance4  7#h7 ,disclosure (  
work=ce managem5t policies %\ld be "p ( 
a ,gov]nm5t-wide economic recov]y       
/rategy4 ,j z a set ( g5]ally accept$   
acc\nt+ pr9ciples 7commonly kn[n z      
,,gaap7 0 urg5tly adopt$ aft] ! ,great  
,depression1 /&>diz$1 comp>able metrics 
( work=ce disclosure requirem5ts 9 !    
context ( ! ,,covid-#ai p&emic are      
critical = inve/ors to accurately       
measure & project company p]=mance1 bo? 
9 ! pres5t & 9 ! future4  7#i7 ,because 
_m companies already track work=ce      
metrics int]nally1 mov+ t[>ds a         
transp>5t disclosure regime w\ld all[   
inve/ors to bett] judge :e!r companies  

are manag+ risks & mak+ ! inve/m5ts 9 _!
 work=ces t are ne$$ = long-t]m gr[?4   
7#aj7 ,bus9esses increas+ly rely on     
work=ce innovation & intellectual       
capital = competitiv5ess4 ,workplace    
b5efits1 p>ticul>ly paid sick leave1    
m$ical leave1 & flexible "w arrangem5ts1
 critically support employee m5tal &    
physical well-be+4  7#aa7 ,race- &      
g5d]-bas$ workplace discrim9ation h be5 
ti$ to negative heal? outcomes1 z well z
 l[] productivity1 tru/1 morale1 &      
satisfaction & high] rates ( abs5teeism 
& turnov]4 ,organizational report+ on   
practices to r$uce discrim9ation c      
increase employee job satisfaction1     
p]=mance1 & engagem5t4  7#ab7 ,accord+  
to ! ,c5t]s = ,disease ,control &       
,prev5tion1 "w-relat$ /ress is ! lead+  
occupational heal? risk &1 p] ! ,am]ican
 ,in/itute ( ,/ress1 job /ress co/s     
,unit$ ,/ates indu/ry m ?an             
#cjj1jjj1jjj1jjj p] ye> 9 accid5ts1     
abs5teeism1 employee turnov]1 dim9i%$   
productivity1 & m$ical1 legal1 &        

insurance co/s4  7#ac7 ,employee heal? &
 well-be+ is a key asset to deliv]+     
long-t]m value1 ) #hj p]c5t ( public    
companies t took concrete actions on    
heal? & well-be+ hav+ se5 l>g]          
improvem5ts 9 f9ancial p]=mance4  7#ad7 
,organizational well-be+ int]v5tions c  
create co/ sav+s ( up to #aj doll>s = e 
doll> inve/$4 ,specifically1 = e doll> t
 employ]s sp5d on workplace disease     
prev5tion & well-be+ programs1 !re is a 
#c4bg r$uction 9 employee m$ical co/s & 
a #b4gc r$uction 9 abs5teeism co/s4     
,employ]s t implem5t workplace heal?    
promotion programs h se5 r$uctions 9    
sick leave1 heal? plan co/s1 & work]s'  
comp5sation & disability insurance co/s 
( approximately #be p]c5t4  7#ae7 ,!    
,c5t]s = ,disease ,control & ,prev5tion 
has f\nd t prev5table *ronic conditions 
are a major contributor to insurance    
premium & employee m$ical claim co/s1   
:i* are at an all-"t high1 & a ,milk5   
,in/itute /udy %[s t employ]s paid      
#b1fjj1jjj1jjj1jjj 9 #bjaf = ! indirect 

co/s ( employee *ronic disease due to "w
 abs5ces1 lo/ wages1 & r$uc$ economic   
productivity4  7#af7 ,! ,,covid-#ai     
p&emic has sev]ely impact$ employee     
physical1 m5tal1 & emotional well-be+ by
 increas+ /ress1 depression1 burn\t1 &  
mortality rates ( *ronic disease & by   
r$uc+ "w-life balance & f9ancial        
security1 ) ^! *all5ges likely to p]si/ 
due to unc]ta9ty & in/ability ev5 z     
employees return to "w4 ,be=e !         
,,covid-#ai p&emic1 b especially 9 !    
face ( t p&emic1 employ]s t advance     
policies & practices t support work=ce  
heal?1 safety1 & well-be+ are likely to 
outp]=m competitors & b5efit f l[] co/s4
  #c4 ,disclosures relat+ to work=ce    
managem5t ,section #ac ( ! ,securities  
,ex*ange ,act ( #aicd 7#ae ,u4,s4,c4    
#ghm7 is am5d$ by add+ at ! end !       
foll[+3  7s7 ,disclosures relat+ to     
work=ce managem5t  7#a7 ,def9ition ,9   
?is subsection1 ! t]m cont+5t work]     
includes an individual p]=m+ "w on a    
tempor>y basis or z an indep5d5t        

contractor4  7#b7 ,regulations ,n lat]  
?an #b ye>s aft] ! date ( enactm5t ( ?is
 subsection1 ! ,commission1 9           
consultation ) ! ,secret>y ( ,labor1 !  
,secret>y ( ,comm]ce1 ! ,secret>y (     
,treasury1 & ! ,attorney ,g5]al1 %all   
promulgate regulations t require ea*    
issu] requir$ to file an annual report  
"u subsection 7a7 or section #ae7;d7 to 
disclose 9 t report in=mation reg>d+    
work=ce managem5t policies1 practices1 &
 p]=mance ) respect to ! issu]4  7#c7   
,rules ,consi/5t ) ! requirem5t "u      
p>agraph 7#d71 ea* annual report fil$ ) 
! ,commission 9 accordance ) !          
regulations promulgat$ "u p>agraph 7#b7 
%all include disclosure ( ! foll[+ )    
respect to ! issu] fil+ ! report = ! ye>
 cov]$ by ! report3 7,a7 ,work=ce       
demographic in=mation1 includ+-- 7i7 !  
numb] ( full-"t employees1 ! numb] (    
"p-"t employees1 & ! numb] ( cont+5t    
work]s 7includ+ tempor>y & contract     
work]s7 ) respect to ! issu]1 :i* %all  
include demographic in=mation ) respect 

to ^? categories ( individuals1 includ+ 
in=mation reg>d+ race1 e?nicity1 & g5d]2
  7ii7 any policies or practices ( !    
issu] relat+ to subcontract+1 outs\rc+1 
& ins\rc+ individuals to p]=m "w = !    
issu]1 :i* %all include demographic     
in=mation ) respect to ^? individuals1  
includ+ in=mation reg>d+ race1 e?nicity1
 & g5d]2 &  7iii7 :e!r ! p]c5tage (     
cont+5t work]s ) respect to ! issu] has 
*ang$1 includ+ tempor>y & contract      
work]s1 z comp>$ ) ! previ\s annual     
report fil$ by ! issu] "u ?is           
subsection4  7,b7 ,work=ce /ability     
in=mation1 includ+ in=mation ab\t !     
volunt>y turnov] or ret5tion rate1 !    
involunt>y turnov] rate1 ! int]nal hir+ 
rate1 & ! int]nal promotion rate1 & !   
horizontal job *ange rate by qu9tile &  
demographic in=mation4  7,c7 ,work=ce   
composition1 includ+-- 7i7 data on      
div]sity 7includ+ racial1 e?nic1 & g5d] 
composition7 = s5ior executives & o!r   
individuals 9 ! work=ce2 &  7ii7 any    
policies1 audits1 & programm+           

exp5ditures relat+ to div]sity4  7,d7   
,work=ce skills & capabilities1         
includ+-- 7i7 in=mation ab\t tra9+ &    
cross-tra9+ ( employees & cont+5t work]s
 by qu9tile & demographic in=mation1    
di/+ui%+ betwe5 compliance tra9+1 c>e]  
developm5t tra9+1 job p]=mance or       
te*nical tra9+1 & tra9+ ti$ to recogniz$
 po/second>y cr$5tials2  7ii7 av]age    
numb] ( h\rs ( tra9+ = ea* employee &   
cont+5t work]2  7iii7 total sp5d+ on    
tra9+ = all employees & cont+5t work]s2 
7iv7 av]age sp5d+ p] employee or cont+5t
 work]2  7v7 tra9+ utilization rates2 & 
7vi7 :e!r completion ( tra9+            
opportunities translates into value add$
 b5efit = work]s1 z det]m9$ by wage     
increases or int]nal promotions4  7,e7  
,work=ce heal?1 safety1 & well-be+1     
includ+ in=mation reg>d+-- 7i7 !        
frequ5cy1 sev]ity1 & lo/ "t due to      
injuries1 physical & m5tal illness1 &   
fatalities2  7ii7 ! scope1 frequ5cy1 &  
total exp5diture on workplace heal?1    
safety1 & well-be+ programs2  7iii7 !   

total doll> value ( assess$ f9es "u !   
,occupational ,safety & ,heal? ,act (   
#aigj 7#bi ,u4,s4,c4 #fea et seq472     
7iv7 ! total numb] ( actions br\ght "u  
section #ac ( ! ,occupational ,safety & 
,heal? ,act ( #aigj 7#bi ,u4,s4,c4 #ffb7
 to prev5t imm95t dang]s2  7v7 ! total  
numb] ( actions br\ght aga9/ ! issu] "u 
section #aa7;c7 ( ! ,occupational       
,safety & ,heal? ,act ( #aigj 7#bi      
,u4,s4,c4 #ffj7;c772  7vi7 any f9d+s (  
workplace h>assm5t or workplace         
discrim9ation dur+ ! #e fiscal ye> p]iod
 ( ! issu] prec$+ ! fiscal ye> 9 :i* !  
report is fil$2 &  7vii7 communication  
*annels & grievance me*anisms 9 place = 
employees & cont+5t work]s4  7,f7       
,work=ce comp5sation & inc5tives1       
includ+ in=mation reg>d+-- 7i7 total    
work=ce co/s1 includ+ sal>ies & wages1  
heal? b5efits1 o!r ancill>y b5efit co/s1
 & p5sion co/s2  7ii7 work=ce b5efits1  
includ+ paid leave1 heal? c>e1 *ild c>e1
 & retirem5t1 includ+ in=mation reg>d+  
b5efits t are provid$-- 7,i7 to full-"t 

employees & n to "p-"t employees2 or    
7,,ii7 to employees & n to cont+5t      
work]s2  7iii7 total contributions made 
to unemploym5t insurance by ! issu]1 h[ 
_m employees to :om ^? contributions    
apply1 & ! total am\nt paid 9           
unemploym5t comp5sation to individuals  
:o 7 laid (f by ! issu]2  7iv7 policies 
& practices reg>d+ h[ p]=mance1         
productivity1 equity1 & su/a9ability are
 consid]$ :5 sett+ pay & mak+ promotion 
decisions2 &  7v7 policies & practices  
relat+ to any inc5tives & bonuses       
provid$ to employees & any policies or  
practices design$ to c\nt] any risks    
creat$ by su* inc5tives & bonuses4  7,g7
 ,work=ce recruit+ & ne$s1 includ+-- 7i7
 ! numb] ( new jobs creat$1 seek+ to be 
fill$1 & fill$1 disaggregat$ bas$ on    
classification /atus2  7ii7 ! %>e ( new 
jobs t require a ba*elor's degree or    
high]2  7iii7 in=mation reg>d+ ! quality
 ( hire = jobs describ$ 9 clause 7i72 & 
7iv7 ! ret5tion rate = individuals hir$ 
to fill ! jobs describ$ 9 clause 7i74   

7,h7 ,work=ce engagem5t & productivity1 
includ+ in=mation reg>d+ policies &     
practices ( ! issu] relat+ to-- 7i7     
engagem5t1 productivity1 & m5tal        
well-be+ ( employees & cont+5t work]s1 z
 det]m9$ 9 consultation ) ! ,dep>tm5t ( 
,labor2 &  7ii7 fre$om ( association &  
"w-life balance initiatives1 includ+    
flexibility & ! ability ( ! work=ce to  
"w remotely1 z det]m9$ 9 consultation ) 
! ,dep>tm5t ( ,labor4  7#d7             
,disaggregation ( in=mation ,to !       
maximum ext5t feasible1 ! in=mation     
describ$ 9 p>agraph 7#c7 %all be        
disaggregat$ by-- 7,a7 ! work=ce        
composition describ$ 9 subp>agraph 7,c7 
( t p>agraph2  7,b7 wage qu9tiles ( !   
employees ( ! issu] = ! ye> cov]$ by !  
applicable annual report2 &  7,c7 !     
employm5t /atus ( individuals p]=m+     
s]vices = ! issu]1 includ+ :e!r ^?      
individuals are full-"t employees1 "p-"t
 employees1 or cont+5t work]s4  7#e7    
,treatm5t ( em]g+ gr[? companies ,!     
,commission may exempt em]g+ gr[?       

companies f any disclosure requir$ "u   
subp>agraph 7,d71 7,e71 7,f71 7,g71 or  
7,h7 ( p>agraph 7#c7 if ! ,commission   
det]m9es t su* an exemption is necess>y 
or appropriate 9 ! public int]e/4  7#f7 
,false or mislead+ /atem5ts  7,a7 ,9    
g5]al ,except z provid$ 9 subp>agraph   
7,b71 x %all be unlawful = any p]son1 9 
any report or docum5t fil$ "u ?is       
subsection1 to make or cause to be made 
any untrue /atem5t ( a mat]ial fact or  
omit to /ate a mat]ial fact requir$ to  
be /at$ 9 ! report or docum5t or        
necess>y to make ! /atem5t made1 9 !    
light ( ! circum/ances "u :i* x is made1
 n mislead+4  7,b7 ,exception ,a p]son  
%all n be liable "u subp>agraph 7,a7 if 
! p]son %[s t ! p]son _h1 aft]          
reasonable inve/igation1 reasonable     
gr\nd to believe1 & did believe1 at ! "t
 ! applicable /atem5t 0 made1 t !       
/atem5t 0 true & t !re 0 no omission to 
/ate a mat]ial fact necess>y to make !  
/atem5t made1 9 ! light ( ! circum/ances
 "u :i* x is made1 n mislead+4  7,c7 ,no

 private "r ( action ,no?+ 9 ?is        
p>agraph may be con/ru$ z creat+ a      
private "r ( action4  7#g7 ,exemption   
,?is subsection %all n apply to an      
inve/m5t company regi/]$ "u section #h (
 ! ,inve/m5t ,company ,act ( #aidj 7#ae 
,u4,s4,c4 #hj;a-#h74  4  #d4 ,back/op   
7a7 ,def9itions ,9 ?is section-- 7#a7 ! 
t]m ,commission means ! ,securities &   
,ex*ange ,commission2  7#b7 ! t]m cov]$ 
issu] means an issu] t is requir$ to    
file an annual report "u section #ac7;a7
 or section #ae7;d7 ( ! ,securities     
,ex*ange ,act ( #aicd 7#ae ,u4,s4,c4    
#ghm7a71 #gho7d772 &  7#c7 ! t]m issu]  
has ! mean+ giv5 ! t]m 9 section #c7;a7 
( ! ,securities ,ex*ange ,act ( #aicd   
7#ae ,u4,s4,c4 #gh;c7a774  7b7          
,compliance ,if1 z ( ! date t is #b ye>s
 aft] ! date ( enactm5t ( ?is ,act1 !   
,commission has n promulgat$ !          
regulations requir$ "u subsection 7s7 ( 
section #ac ( ! ,securities ,ex*ange    
,act ( #aicd 7#ae ,u4,s4,c4 #ghm71 z    
add$ by section #c ( ?is ,act1 a cov]$  

issu]1 dur+ ! p]iod beg9n+ on t date &  
end+ on ! date on :i* ! ,commission     
promulgates ^? regulations1 %all be     
deem$ to be 9 compliance ) su*          
subsection 7s7 if disclosures set =? 9 !
 annual report ( ! cov]$ issu] satisfy !
 public disclosure /&>ds ( !            
,int]national ,organization =           
,/&>dization's ,,iso #cjdad1 or any     
successor /&>ds = ext]nal work=ce       
report+1 z supplem5t$ or adju/$ by      
rules1 guidance1 or o!r comm5ts f !     
,commission4  #e4 ,,sec /udy  7a7       
,def9itions ,9 ?is section1 ! t]ms      
,commission & issu] h ! mean+s giv5 ^?  
t]ms 9 section #d7;a74  7b7 ,/udy ,!    
,commission %all conduct a /udy ab\t !  
value to inve/ors (-- 7#a7 in=mation    
ab\t ! human rights commitm5ts ( issu]s 
requir$ to file annual reports "u       
section #ac7;a7 ( ! ,securities ,ex*ange
 ,act ( #aicd 7#ae ,u4,s4,c4 #ghm7a771  
includ+ in=mation ab\t any pr9ciples us$
 to evaluate risk1 con/itu5cy           
consultation processes1 & suppli] due   

dilig5ce2 &  7#b7 ) respect to issu]s   
requir$ to file annual reports "u       
section #ac7;a7 ( ! ,securities ,ex*ange
 ,act ( #aicd 7#ae ,u4,s4,c4 #ghm7a771  
in=mation ab\t-- 7,a7 violations ( !    
,fair ,labor ,/&>ds ,act ( #aich 7#bi   
,u4,s4,c4 #bja et seq47 by ^? issu]s2   
7,b7 violations ( work]                 
misclassification by ^? issu]s2  7,c7   
surveys reg>d+ employee satisfaction1   
well-be+1 & engagem5t2  7,d7 ! numb] &  
ov]all p]c5tage ( quality jobs1 z       
det]m9$ by comp5sation above m$ian wage 
& compreh5sive employ]-provid$ b5efits2 
&  7,e7 in=mation ab\t work=ce inve/m5t 
tr5ds1 z det]m9$ by at lea/ a #c-ye> "t 
p]iod4  7c7 ,report ,n lat] ?an #a ye>  
aft] ! date ( enactm5t ( ?is ,act1 !    
,commission %all submit to ,congress a  
report t conta9s ! results ( ! /udy     
requir$ to be conduct$ "u subsection    
7b71 ) recomm5dations = additional      
disclosure regulations bas$ on ! f9d+s1 
& any actions ! ,commission plans to    
take to enhance disclosures bas$ on !   

f9d+s4