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   &lt;pre&gt;[Congressional Record Volume 167, Number 86 (Tuesday, May 18, 2021)][House]From the Congressional Record Online through the Government Publishing Office [&lt;a href="https://www.gpo.gov"&gt;www.gpo.gov&lt;/a&gt;]By Ms. JAYAPAL:H.R. 3308.Congress has the power to enact this legislation pursuantto the following:This bill is enacted pursuant to the power granted toCongress under Article I of the United States Constitutionand its subsequent amendments, and further clarified andinterpreted by the Supreme Court of the United States.[Page H2541]&lt;/pre&gt;
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     Encouraging More Proxy voting by Organized Workers, Employees, and Retirement Savers Act
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     &lt;p&gt;&lt;strong&gt;Encouraging More Proxy voting by Organized Workers, Employees, and Retirement Savers Act or the EMPOWERS Act&lt;/strong&gt;&lt;/p&gt; &lt;p&gt;This bill modifies the requirements for single-employer retirement plans with respect to the fiduciaries and proxy voting procedures for such plans.&lt;/p&gt; &lt;p&gt;Specifically, it requires the assets of such plans to be held in trust by a joint board of trustees that represents the interests of the employer and the interests of the plan participants and their beneficiaries on an equal basis.&lt;/p&gt; &lt;p&gt;Additionally, the trustees of each plan must undergo training and establish proxy voting guidelines for the plan. In exercising a plan's proxy voting rights, a fiduciary may consider (1) the investment objectives of the plan participants and their beneficiaries, and (2) certain effects of negative externalities generated by portfolio companies.&lt;/p&gt;
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   EMPOWERS Act
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     To establish a process by which participants of employee welfare plans select guidelines to be used by the plan fiduciary for voting proxies on securities held in investment portfolios under the plan, and for other purposes.
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     Encouraging More Proxy voting by Organized Workers, Employees, and Retirement Savers Act
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   This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.
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H11100
2021-05-18
Education and the Workforce Committee
hsed00
2
House floor actions
Referred to the House Committee on Education and Labor.
IntroReferral
Intro-H
2021-05-18
9
Library of Congress
Introduced in House
IntroReferral
1000
2021-05-18
9
Library of Congress
Introduced in House
IntroReferral
2021-05-18T14:00:25Z
Referred to
House
Education and the Workforce Committee
hsed00
Standing
Congressional Research Service, Library of Congress
This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.
text/xml
EN
Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
2021-05-18
2021-05-18
Referred to the House Committee on Education and Labor.
House
Labor and Employment
2021-05-18
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
CRS
Identical bill
Encouraging More Proxy voting by Organized Workers, Employees, and Retirement Savers Act
S
J000298
7
Pramila
Rep. Jayapal, Pramila [D-WA-7]
N
Jayapal
D
WA
Administrative law and regulatory procedures Corporate finance and management Department of Labor Employee benefits and pensions Financial services and investments Labor-management relations Securities
2021-05-18
Introduced in House
 <p><strong>Encouraging More Proxy voting by Organized Workers, Employees, and Retirement Savers Act or the EMPOWERS Act</strong></p> <p>This bill modifies the requirements for single-employer retirement plans with respect to the fiduciaries and proxy voting procedures for such plans.</p> <p>Specifically, it requires the assets of such plans to be held in trust by a joint board of trustees that represents the interests of the employer and the interests of the plan participants and their beneficiaries on an equal basis.</p> <p>Additionally, the trustees of each plan must undergo training and establish proxy voting guidelines for the plan. In exercising a plan's proxy voting rights, a fiduciary may consider (1) the investment objectives of the plan participants and their beneficiaries, and (2) certain effects of negative externalities generated by portfolio companies.</p>
2022-08-09T14:48:20Z
00
2021-05-18T04:00:00Z
Introduced in House
https://www.govinfo.gov/content/pkg/BILLS-117hr3308ih/xml/BILLS-117hr3308ih.xml
EMPOWERS Act
EMPOWERS Act
Display Title
IH
Introduced in House
To establish a process by which participants of employee welfare plans select guidelines to be used by the plan fiduciary for voting proxies on securities held in investment portfolios under the plan, and for other purposes.
Official Title as Introduced
IH
Introduced in House
EMPOWERS Act
Short Title(s) as Introduced
IH
Introduced in House
Encouraging More Proxy voting by Organized Workers, Employees, and Retirement Savers Act
Short Title(s) as Introduced
HR
2023-01-11T13:49:43Z
2023-01-11T13:49:43Z
3.0.0
2021-05-18
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
CRS
Identical bill
Encouraging More Proxy voting by Organized Workers, Employees, and Retirement Savers Act
S
H11100
2021-05-18
Education and the Workforce Committee
hsed00
2
House floor actions
Referred to the House Committee on Education and Labor.
IntroReferral
Intro-H
2021-05-18
9
Library of Congress
Introduced in House
IntroReferral
1000
2021-05-18
9
Library of Congress
Introduced in House
IntroReferral
J000298
7
Pramila
Rep. Jayapal, Pramila [D-WA-7]
N
Jayapal
D
WA
Administrative law and regulatory procedures Corporate finance and management Department of Labor Employee benefits and pensions Financial services and investments Labor-management relations Securities
2021-05-18
Introduced in House
 <p><strong>Encouraging More Proxy voting by Organized Workers, Employees, and Retirement Savers Act or the EMPOWERS Act</strong></p> <p>This bill modifies the requirements for single-employer retirement plans with respect to the fiduciaries and proxy voting procedures for such plans.</p> <p>Specifically, it requires the assets of such plans to be held in trust by a joint board of trustees that represents the interests of the employer and the interests of the plan participants and their beneficiaries on an equal basis.</p> <p>Additionally, the trustees of each plan must undergo training and establish proxy voting guidelines for the plan. In exercising a plan's proxy voting rights, a fiduciary may consider (1) the investment objectives of the plan participants and their beneficiaries, and (2) certain effects of negative externalities generated by portfolio companies.</p>
2022-08-09T14:48:20Z
00
EMPOWERS Act
EMPOWERS Act
Display Title
IH
Introduced in House
To establish a process by which participants of employee welfare plans select guidelines to be used by the plan fiduciary for voting proxies on securities held in investment portfolios under the plan, and for other purposes.
Official Title as Introduced
IH
Introduced in House
EMPOWERS Act
Short Title(s) as Introduced
IH
Introduced in House
Encouraging More Proxy voting by Organized Workers, Employees, and Retirement Savers Act
Short Title(s) as Introduced
2021-05-18
Referred to the House Committee on Education and Labor.