PARSA

H.R. 2067, the Protecting Americans' Retirement Savings Act (PARSA), would amend federal retirement law to restrict how pension and retirement plans invest workers' savings. Specifically, the bill would prohibit retirement plan fiduciaries from making new investments in foreign adversary entities or entities subject to U.S. sanctions. The bill would also require retirement plans to disclose any existing investments they currently hold in such entities, including the value of those investments and the identity of the fiduciary responsible for maintaining them.

For workers and retirees, this bill could affect the composition of their retirement portfolios if their plans hold investments in sanctioned or foreign adversary entities. Plans would need to report these holdings and would be restricted from making new investments in such entities going forward, though the bill would allow plans to continue holding existing investments if they comply with disclosure requirements. The bill is currently under consideration by the House Committee on Education and Workforce and has not yet been voted on by the full chamber.