Balance the Scales Act

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 2958 Reported in House (RH)] <DOC> Union Calendar No. 430 119th CONGRESS 2d Session H. R. 2958 [Report No. 119-504] To amend the Employee Retirement Income Security Act of 1974 to require that the Employee Benefit Security Administration submit an annual report to Congress on adverse interest agreements, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES April 17, 2025 Mr. Rulli introduced the following bill; which was referred to the Committee on Education and Workforce February 20, 2026 Additional sponsor: Mrs. McClain February 20, 2026 Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed [Strike out all after the enacting clause and insert the part printed in italic] [For text of introduced bill, see copy of bill as introduced on April 17, 2025] _______________________________________________________________________ A BILL To amend the Employee Retirement Income Security Act of 1974 to require that the Employee Benefit Security Administration submit an annual report to Congress on adverse interest agreements, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Balance the Scales Act''. SEC. 2. REPORT ON ADVERSE INTEREST AGREEMENTS. (a) In General.--Section 504 of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1134) is amended by adding at the end the following: ``(f) Collaboration With Plaintiff Attorneys.-- ``(1) In general.--In the event that the Secretary provides adverse assistance to an individual, prior to providing the adverse assistance, the Secretary shall-- ``(A) enter into a written agreement with the individual that details the nature and scope of such assistance,