HB10702: Workers’ Retirement Savings Protection Act of 2026
- 1Introduced (current step)
- 2Passed One Chamber
- 3Passed Both Chambers
- 4Became Law
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Bill information
Summary
To amend the Employee Retirement Income Security Act of 1974 to provide that persons are fiduciaries with respect to the provision of retirement investment advice.
Plain-language summary
This bill would change federal retirement law to make people who give retirement investment advice legally responsible for acting in their clients' best interests. Currently, some financial advisers can recommend investments that benefit themselves more than their clients. The bill applies to retirement accounts covered by the Employee Retirement Income Security Act, a major federal law governing workplace pensions and retirement plans. The measure was introduced by Representative Robert Scott and is in the early stages of the legislative process.
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HB10702: Workers’ Retirement Savings Protection Act of 2026