Bill · S. 3083· Senate(119-S-3083)
Providing Complete Information to Retirement Investors Act
- Introduced
- 10/30/2025
- Last activity
- 10/30/2025 — Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
- Sponsored by
- Jim Banks
- Cosponsors
- - 1 - 0
- Introduced
- In Committee
What this bill would do
This bill is called the Providing Complete Information to Retirement Investors Act. It amends the Employee Retirement Income Security Act of 1974. The legislation requires pension plans to ensure that participants receive notice about risks linked to certain investments. Specifically, it targets investments made through brokerage windows or self-directed accounts that are not chosen by plan fiduciaries. The rules dictate that participants must acknowledge a four-part warning notice before directing investments into these arrangements. The requirements take effect on January 1, 2026.
Yes· 3 of 10
Would people in their twenties and thirties be better off under this?+2
Young adults starting retirement planning benefit from clearer risk warnings and return illustrations.
Would people in middle age be better off under this?+2
Middle-aged workers receive important risk warnings regarding self-directed retirement investments.
Would people over 65 be better off under this?+2
Seniors managing retirement accounts are provided better risk information before executing trades.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
-
Section 2(a) requires participants to receive and acknowledge a clear notice before investing in non-designated alternatives through brokerage windows. This is positive because it warns everyday workers that these specific investments are not monitored by plan fiduciaries, and could lead to higher fees, higher risks, or diminished returns compared to standard options.
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Section 2(a) mandates that the warning notice must include a hypothetical illustration displaying projected retirement balances at age 67 based on annual returns of 4 percent, 6 percent, and 8 percent. This helps people clearly visualize the long-term impact of their investment returns on their future savings.
Potential Negative Impacts for People
- Section 2(a) requires participants to view and acknowledge a specific notice each time before they direct an investment into, out of, or within an arrangement that is not a designated investment alternative. This could be viewed as a negative burden or hassle for individuals who actively manage their own self-directed accounts and want to make frequent trades without extra administrative steps.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Middle Aged+2Good For Middle Class Households+2Good For Retirees+2Good For Seniors+2Good For Young Adults+2Good For Low Income Households+1Good For Union Workers+1
- Governance And Ideology
- Improves Government Transparency+2Increases Federal Power+1
- Economy And Finance
- Improves Consumer Protection+2
- 10/30/2025
- Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
- 1 Cosponsor added.
- Introduced in Senate
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Bill CassidyRepublican · Louisiana