Protecting Prudent Investment of Retirement Savings Act

This bill sets rules for the people who manage employer-sponsored retirement plans. It says that when they make investment decisions, they must focus on financial factors — meaning things that are expected to affect how much money an investment makes or how risky it is. They can only consider non-financial factors in limited situations, like when they can't tell the difference between investments based on finances alone. The bill also requires these managers to act in the best interest of the people in the plan when exercising rights like voting on company matters, and it requires them to give certain notices to plan participants who get to choose their own investments.

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