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S 928119th CongressIntroduced
PARSA
Introduced: Oct 29, 2025
Defense & National SecurityFinancial ServicesLabor & Employment
Standard Summary
Comprehensive overview in 1-2 paragraphs
The Protecting Americans' Retirement Savings Act (PARSA) amends ERISA to prohibit retirement plans from investing in foreign adversary and sanctioned entities, mandates detailed disclosure of existing holdings, and establishes transitional rules for current investments while enhancing national security protections for retirement assets.
Key Points
- 1Prohibits retirement plan fiduciaries from transacting with foreign adversary entities or sanctioned entities as defined by multiple federal sanctions lists and national security designations.
- 2Requires comprehensive annual disclosures including asset values, entity identities, investment vehicles used, and fiduciary decision factors for restricted holdings.
- 3Allows continuation of pre-existing investments and binding agreements under strict disclosure requirements and phase-out timelines until contract expiration.
Impact Areas
Retirement plan fiduciaries and administratorsParticipants in employer-sponsored retirement plans (401(k), pensions)Entities designated as foreign adversaries (e.g., China-linked organizations)Investment funds holding assets in restricted entities
Generated by legislative-analysis-expert-v3 on Nov 6, 2025