A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to "Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights".

Senate Joint Resolution

S.J.Res. 8

119th Congress

A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to "Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights".

In Committee

Introduced:Feb 3, 2025

Primary Sponsor

John Kennedy

R - LA

Cosponsors

2

Quick Stats

Policy Area

Immigration

Summary

This joint resolution uses the Congressional Review Act to nullify the Department of Labor rule on Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights. The rule clarified that retirement plan fiduciaries may consider environmental, social, and governance (ESG) factors when making investment decisions, provided they are financially relevant.

Latest Action

Read twice and referred to the Committee on the Judiciary.

Introduced2/3/2025

StatusRead twice and referred to the Committee on Health, Education, Labor, and Pensions.

ChamberSenate

Data from Congress.gov

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Vote Prediction

A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to "Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights".

This joint resolution uses the Congressional Review Act to nullify the Department of Labor rule on Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights. The rule clarified that retirement plan fiduciaries may consider environmen

Community Breakdown

Pass

0%

Fail

0%

0 predictions

This joint resolution uses the Congressional Review Act to nullify the Department of Labor rule on Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights. The rule clarified that retirement plan fiduciaries may consider environmental, social, and governance (ESG) factors when making investment decisions, provided they are financially relevant.

Bill Number: 8
Introduced: 2/3/2025
Status: Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Policy Area: Immigration

Data from Congress.gov

AI-generated summary

Fact Sheet

Title: A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to "Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights".
Bill Number: 8
Sponsor: No sponsor
Status: Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Introduced: 2/3/2025
Summary: This joint resolution uses the Congressional Review Act to nullify the Department of Labor rule on Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights. The rule clarified that retirement plan fiduciaries may consider environmental, social, and governance (ESG) factor

Data from Congress.gov

AI Summary

Plain-English explanation of this bill

This joint resolution uses the Congressional Review Act to nullify the Department of Labor rule on Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights. The rule clarified that retirement plan fiduciaries may consider environmental, social, and governance (ESG) factors when making investment decisions, provided they are financially relevant.

Last updated: 1/4/2026

Official Summary

Congressional Research Service summary

<p>This joint resolution nullifies the final rule issued by the Department of Homeland Security titled <em>Increase of the Automatic Extension Period of Employment Authorization and Documentation for Certain Employment Authorization Document Renewal Applicants</em> and published on December 13, 2024. This rule makes permanent the increase of the automatic extension period from 180 days to 540 days for expiring employment authorization documents. The extension applies to eligible noncitizens who renew these authorizations on time.</p>

Key Points

Main provisions of the bill

Nullifies DOL ESG investment rule for retirement plans
Uses Congressional Review Act
Rule allowed consideration of ESG factors in investments
Affects 401k and pension plan investment decisions
Addresses fiduciary duty and shareholder rights
Would restrict ESG investing in retirement plans

How This Impacts Americans

Potential effects on citizens and communities

This resolution targets a Biden-era rule clarifying that retirement plan fiduciaries can consider ESG factors in investment decisions. The rule reversed Trump-era restrictions on ESG investing in retirement plans. Nullifying it would signal that considering climate, social, or governance factors may violate fiduciary duty to plan participants. The debate centers on whether ESG considerations improve or harm long-term investment returns and whether politics should influence retirement investing.

Policy Areas

Primary Policy Area

Immigration

Scope & Jurisdiction

Jurisdiction Level

federal

Congressional Session

119th Congress

Citation Reference

8, 119th Congress (2025). "A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to "Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights".". Source: Voter's Right Platform. https://votersright.org/bills/118-sjres-8