,,ii  #aahth ,,congress  #ast ,session  
,s4 #ebc  ,,in ,,the ,,senate ,,of ,,the
 ,,united ,,states  ,february #af1      
#bjbc,ms4 ,smith 7for herself1 ,mrs4    
,murray1 ,mrs4 ,feinstein1 ,mr4         
,blumenthal1 ,mr4 ,durbin1 ,ms4 ,warren1
 ,mr4 ,sanders1 ,mr4 ,wyden1 and ,mr4   
,markey7 introduced the following bill2 
which was read twice and referred to the
 ,committee on ,health1 ,education1     
,labor1 and ,pensions  ,a ,,bill  ,to   
amend the ,employee ,retirement ,income 
,security ,act of #aigd to permit       
retirement plans to consider certain    
factors in investment decisions4  #a4   
,short title ,this ,act may be cited as 
the ,freedom to ,invest in a            
,sustainable ,future ,act4  #b4 ,,erisa 
amendments ,subsection 7a7 of section   
#djd of the ,employee ,retirement       
,income ,security ,act of #aigd 7#bi    
,u4,s4,c4 #aajd7 is amended by adding at
 the end the following new paragraph3   
7#c7 7,a7 ,provided that a fiduciary    
discharges the fiduciary's duties with  

respect to a plan in a manner otherwise 
consistent with this subsection1 a      
fiduciary may-- 7i7 consider            
environmental1 social1 governance1 or   
similar factors1 in connection with     
carrying out an investment decision1    
strategy1 or objective1 or other        
fiduciary act2 and  7ii7 consider       
collateral environmental1 social1       
governance1 or similar factors as       
tie-breakers when competing investments 
can reasonably be expected to serve the 
plan's economic interests equally well  
with respect to expected return and risk
 over the appropriate time horizon4     
7,b7 ,in a case described in clause 7i7 
or 7ii7 of subparagraph 7,a71 a         
fiduciary shall not be required to      
maintain any greater documentation1     
substantiation1 or other justification  
of the fiduciary's actions relating to  
such fiduciary act than is otherwise    
required under this part4  7,c7 ,nothing
 in this part shall preclude an         
investment selected in accordance with  

clause 7i7 or 7ii7 of subparagraph 7,a7 
from being treated as a default         
investment or a component of such a     
default investment 7as described in     
regulations issued by the ,secretary    
under subsection 7c77#e77;,a771 if such 
investment would otherwise qualify for  
such treatment under such regulations4  
4