Susan E. Lukas 9/11 Servicemember Fairness Act

House Bill

H.R. 5339

119th Congress

Susan E. Lukas 9/11 Servicemember Fairness Act

In Committee

Introduced:Sep 11, 2025

Primary Sponsor

Linda T. Sánchez

Representative

Democratic

CA-38

Cosponsors

1

Quick Stats

Policy Area

Labor and Employment

Summary

This bill would require retirement plan managers to make investment decisions based only on financial factors, rather than considering environmental, social, or governance (ESG) factors. It would limit their ability to consider non-financial factors when selecting investment options for retirement plans.

Latest Action

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

SponsorLinda T. Sánchez (D-CA)

Introduced9/11/2025

StatusReferred to the Subcommittee on Disability Assistance and Memorial Affairs.

ChamberHouse

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Vote Prediction

Susan E. Lukas 9/11 Servicemember Fairness Act

This bill would require retirement plan managers to make investment decisions based only on financial factors, rather than considering environmental, social, or governance (ESG) factors. It would limit their ability to consider non-financial factors when selec

Community Breakdown

Pass

0%

Fail

0%

0 predictions

This bill would require retirement plan managers to make investment decisions based only on financial factors, rather than considering environmental, social, or governance (ESG) factors. It would limit their ability to consider non-financial factors when selecting investment options for retirement plans.

Bill Number: 5339
Sponsor: Linda T. Sánchez (D-CA)
Introduced: 9/11/2025
Status: Referred to the Subcommittee on Disability Assistance and Memorial Affairs.
Policy Area: Labor and Employment

Data from Congress.gov

AI-generated summary

Fact Sheet

Title: Susan E. Lukas 9/11 Servicemember Fairness Act
Bill Number: 5339
Sponsor: Linda T. Sánchez (D-CA)
Status: Referred to the Subcommittee on Disability Assistance and Memorial Affairs.
Introduced: 9/11/2025
Summary: This bill would require retirement plan managers to make investment decisions based only on financial factors, rather than considering environmental, social, or governance (ESG) factors. It would limit their ability to consider non-financial factors when selecting investment options for retirement p

Data from Congress.gov

AI Summary

Plain-English explanation of this bill

This bill would require retirement plan managers to make investment decisions based only on financial factors, rather than considering environmental, social, or governance (ESG) factors. It would limit their ability to consider non-financial factors when selecting investment options for retirement plans.

Last updated: 12/29/2025

Official Summary

Congressional Research Service summary

Roll back ESG To Increase Retirement Earnings Act or the RETIRE Act This bill generally requires fiduciaries of employer-sponsored retirement plans to make investment decisions based only on pecuniary factors (i.e., factors that a fiduciary prudently determines are expected to have a material effect on the risk or return of an investment based on appropriate investment horizons consistent with the plan's policies and objectives). The bill allows nonpecuniary factors to be considered in certain situations, such as when selecting investment options for certain participant-directed retirement plans or if the fiduciary is unable to distinguish between investment alternatives on the basis of pecuniary factors alone.

Key Points

Main provisions of the bill

Retirement plan managers would have to focus solely on maximizing financial returns, rather than considering ESG factors like environmental impact or worker treatment.
The bill allows some consideration of non-financial factors in limited situations, such as when selecting investment options for participant-directed plans.
The goal is to increase retirement earnings by restricting retirement plan managers from considering non-financial factors in their investment decisions.

How This Impacts Americans

Potential effects on citizens and communities

This bill would primarily impact the millions of Americans with employer-sponsored retirement plans, by limiting the ability of plan managers to consider ESG factors when making investment choices. This could lead to increased retirement earnings in the short term, but could also result in investments that have negative social or environmental impacts.

Policy Areas

Primary Policy Area

Labor and Employment

Related Subjects

Business ethics

Employee benefits and pensions

Financial services and investments

Scope & Jurisdiction

Jurisdiction Level

federal

Congressional Session

119th Congress

Citation Reference

5339, 119th Congress (2025). "Susan E. Lukas 9/11 Servicemember Fairness Act". Source: Voter's Right Platform. https://votersright.org/bills/118-hr-5339