H.R. 5338 — Introduced in House

I 118th CONGRESS 1st Session H. R. 5338 IN THE HOUSE OF REPRESENTATIVES September 5, 2023Mr. Good of Virginia introduced the following bill; which was referred to the Committee on Education and the Workforce A BILL To amend the Employee Retirement Income Security Act of 1974 to establish that fiduciaries must act with prudence and loyalty when selecting service providers for pension plans. 1. Short title This Act may be cited as the No Discrimination in My Benefits Act. 2. Selection of service providers Section 404(a)(1) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1104(a)(1)) is amended— (1) in subparagraph (C), by striking and; (2) in subparagraph (D), by striking the period at the end and inserting ; and; and (3) by adding at the end the following new subparagraph: (E) by selecting, monitoring, and retaining any fiduciary, counsel, employee, or service provider of the plan— (i) in accordance with subparagraphs (A) and (B); and (ii) without regard to race, color, religion, sex, or national origin. .