Workers’ Retirement Savings Protection Act of 2026

This bill changes the federal retirement law known as ERISA to say when a person who gives retirement investment advice counts as a "fiduciary." Under the bill, a person who is paid, directly or indirectly, to give advice or recommendations on investments, rollovers, or investment strategies that are tailored to a specific retirement plan or account would be a fiduciary. The bill lists many kinds of payments that count as compensation, such as commissions, revenue sharing, and gifts. It applies these rules to employee benefit plans and to individual retirement accounts (IRAs) and annuities. It also cancels an existing federal regulation that defined investment advice.

Full text and official record on Congress.gov

Sponsors

• Robert C. "Bobby" Scott Democrat sponsor
• 0 cosponsors