H.R. 5338 — Reported in House

IB Union Calendar No. 185 118th CONGRESS 1st Session H. R. 5338 [Report No. 118–226] 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 September 26, 2023Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printedStrike out all after the enacting clause and insert the part printed in italicFor text of introduced bill, see copy of bill as introduced on September 5, 2023 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. Service provider selection 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. . September 26, 2023Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed