PARSA

The Protecting Americans' Retirement Savings Act (PARSA) would amend the Employee Retirement Income Security Act of 1974 to restrict how retirement plans can invest workers' savings. Specifically, the bill would prohibit plan fiduciaries from making investments in foreign adversary and sanctioned entities, and would require disclosure of any existing investments in such entities. This applies to retirement plans covered under federal pension law. The bill is currently under committee consideration in the Senate and has not yet been voted on by the full chamber. If enacted, the legislation would prevent retirement plan managers from directing retirement savings toward investments in countries or entities designated as foreign adversaries or subject to sanctions, potentially affecting the investment options available to plan participants.