,,ii  #aah? ,,congress  #a/ ,session    
,s4 #ebc  ,,9 ,,! ,,s5ate ,,( ,,!       
,,unit$ ,,/ates  ,febru>y #af1 #bjbc,ms4
 ,smi? 7= h]self1 ,mrs4 ,murray1 ,mrs4  
,fe9/e91 ,mr4 ,blum5?al1 ,mr4 ,durb91   
,ms4 ,w>r51 ,mr4 ,s&]s1 ,mr4 ,wyd51 &   
,mr4 ,m>key7 introduc$ ! foll[+ bill2   
:i* 0 read twice & ref]r$ to !          
,committee on ,heal?1 ,education1       
,labor1 & ,p5sions  ,a ,,bill  ,to am5d 
! ,employee ,retirem5t ,income ,security
 ,act ( #aigd to p]mit retirem5t plans  
to consid] c]ta9 factors 9 inve/m5t     
decisions4  #a4 ,%ort title ,?is ,act   
may be cit$ z ! ,fre$om to ,inve/ 9 a   
,su/a9able ,future ,act4  #b4 ,,erisa   
am5dm5ts ,subsection 7a7 ( section #djd 
( ! ,employee ,retirem5t ,income        
,security ,act ( #aigd 7#bi ,u4,s4,c4   
#aajd7 is am5d$ by add+ at ! end !      
foll[+ new p>agraph3  7#c7 7,a7 ,provid$
 t a fiduci>y dis*>ges ! fiduci>y's     
duties ) respect to a plan 9 a mann]    
o!rwise consi/5t ) ?is subsection1 a    
fiduci>y may-- 7i7 consid] environm5tal1

 social1 gov]nance1 or simil> factors1 9
 connection ) c>ry+ out an inve/m5t     
decision1 /rategy1 or objective1 or o!r 
fiduci>y act2 &  7ii7 consid] collat]al 
environm5tal1 social1 gov]nance1 or     
simil> factors z tie-break]s :5 compet+ 
inve/m5ts c reasonably be expect$ to    
s]ve ! plan's economic int]e/s equally  
well ) respect to expect$ return & risk 
ov] ! appropriate "t horizon4  7,b7 ,9 a
 case describ$ 9 clause 7i7 or 7ii7 (   
subp>agraph 7,a71 a fiduci>y %all n be  
requir$ to ma9ta9 any great]            
docum5tation1 sub/antiation1 or o!r     
ju/ification ( ! fiduci>y's actions     
relat+ to su* fiduci>y act ?an is       
o!rwise requir$ "u ?is "p4  7,c7 ,no?+ 9
 ?is "p %all preclude an inve/m5t       
select$ 9 accordance ) clause 7i7 or    
7ii7 ( subp>agraph 7,a7 f be+ treat$ z a
 default inve/m5t or a compon5t ( su* a 
default inve/m5t 7z describ$ 9          
regulations issu$ by ! ,secret>y "u     
subsection 7c77#e77;,a771 if su*        
inve/m5t w\ld o!rwise qualify = su*     

treatm5t "u su* regulations4  4