PARSA

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 2067 Introduced in House (IH)] <DOC> 119th CONGRESS 1st Session H. R. 2067 To amend the Employment Retirement Income Security Act of 1974 to prohibit plan investments in foreign adversary and sanctioned entities, require disclosure of existing investments in such entities, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES March 11, 2025 Mr. Moolenaar introduced the following bill; which was referred to the Committee on Education and Workforce _______________________________________________________________________ A BILL To amend the Employment Retirement Income Security Act of 1974 to prohibit plan investments in foreign adversary and sanctioned entities, require disclosure of existing investments in such entities, 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 ``Protecting Americans' Retirement Savings Act'' or ``PARSA''. SEC. 2. PROHIBITION ON INVESTMENT IN CERTAIN ENTITIES. Section 404(a) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1104(a)) is amended by adding at the end the following: ``(3) Prohibition on Investment in Certain Entities.-- ``(A) In general.--It shall be a violation of paragraph (1) for a fiduciary of a plan to fail to ensure that the plan does not engage in a transaction that the fiduciary knows, or should know, will result in the plan-- ``(i) acquiring an interest (as defined in section 103(h)) between the plan and a covered entity; ``(ii) lending money or extending credit to a covered entity; ``(iii) furnishing goods, services, or facilities to a covered entity; and ``(iv) transferring, directly or indirectly, to or for use by or for the benefit of a covered entity-- ``(I) any assets of the plan; or ``(II) any data with