Providing Complete Information to Retirement Investors Act

This bill changes federal retirement plan law for plans with individual accounts, such as 401(k)-type plans, that offer a set menu of investment options. Each time a participant moves money into, out of, or within an investment outside that menu, such as a brokerage window, the participant must first receive and acknowledge a four-part notice. The notice says the outside investments are not selected or monitored by plan fiduciaries and may carry lower returns, higher fees, and higher risk. It must also include a graph projecting the participant's balance at age 67 at annual returns of 4, 6, and 8 percent. The bill defines "designated investment alternative" to exclude brokerage windows, and the notice rule would take effect January 1, 2026.

Full text and official record on Congress.gov

Sponsors

• Jim Banks Republican sponsor
• 1 cosponsors