# 114-hr-4293: Affordable Retirement Advice Protection Act

114-hr-4293, Affordable Retirement Advice Protection Act, is a 114th Congress bill sponsored by Rep. Roe, David P. [R-TN-1] (R-TN); status Placed on the Union Calendar, Calendar No. 391. (as of 2025-11-18).

- Canonical: https://policyrisk.com/legislation/114-hr-4293
- As of: 2025-11-18
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 114-hr-4293
- Congress: 114
- Title: Affordable Retirement Advice Protection Act
- Status: Placed on the Union Calendar, Calendar No. 391.
- Introduced: 2015-12-18
- Sponsor: Rep. Roe, David P. [R-TN-1] (R-TN)
- Cosponsors: 38
- Policy area: Labor and Employment
- Touches household money: no
- Last recorded action: 2025-11-18

## Summary

Affordable Retirement Advice Protection Act This bill amends the Employee Retirement Income Security Act of 1974 (ERISA) to define "investment advice," as it relates to fiduciary duties under such Act, as a recommendation that relates to: (1) the advisability of acquiring, holding, disposing, or exchanging any moneys or other property of a pension plan (or Individual Retirement Account) by the plan, plan participants, or plan beneficiaries, including any recommendation regarding whether to take a distribution of benefits from the plan or any recommendation relating to a rollover or distribution from such plan; (2) the management of moneys or other property of the plan, including recommendations relating to the management of plan assets to be rolled over or otherwise distributed from the plan; or (3) the advisability of retaining or ceasing to retain a person who would receive a fee or other compensation for providing investment advice. Investment advice must be rendered pursuant to either: (1) a written acknowledgment of the obligation of the investment advisor to act in accordance with fiduciary standards under ERISA; or (2) a mutual agreement, arrangement, or understanding that may include limitations on scope, timing, and responsibility to provide ongoing monitoring or advice services. The bill allows an exemption from ERISA prohibited transactions rules for investment advice: (1) for which no more than reasonable compensation is paid; or (2) that is based on a limited range of investment options or may result in variable income to the investment advisor if a clearly-stated notice is provided to the advice recipient that the same or similar investments may be available at a greater or lesser cost from other sources. The bill prohibits the Department of Labor from amending any rules or administrative positions regarding investment advice promulgated under ERISA and no such rules or administrative positions promulgated prior to the enactment date of this Act, but not effective on January 1, 2015, may become effective unless a bill or joint resolution specifically approving such rules or positions is enacted not later than 60 days after the enactment of this Act.

## Cosponsors (38)

- Rep. Neal, Richard E. [D-MA-1] (D-MA), 2015-12-18T00:00:00.000Z
- Rep. Roskam, Peter J. [R-IL-6] (R-IL), 2015-12-18T00:00:00.000Z
- Rep. Larson, John B. [D-CT-1] (D-CT), 2015-12-18T00:00:00.000Z
- Rep. Carter, Earl L. "Buddy" [R-GA-1] (R-GA), 2015-12-18T00:00:00.000Z
- Rep. Scott, David [D-GA-13] (D-GA), 2015-12-18T00:00:00.000Z
- Rep. Lujan Grisham, Michelle [D-NM-1] (D-NM), 2016-01-11T00:00:00.000Z
- Rep. Reed, Tom [R-NY-23] (R-NY), 2016-01-11T00:00:00.000Z
- Sen. Young, Todd [R-IN] (R-IN), 2016-02-01T00:00:00.000Z
- Rep. Byrne, Bradley [R-AL-1] (R-AL), 2016-02-01T00:00:00.000Z
- Rep. Boustany, Charles W., Jr. [R-LA-3] (R-LA), 2016-02-01T00:00:00.000Z
- Rep. Wilson, Joe [R-SC-2] (R-SC), 2016-02-01T00:00:00.000Z
- WM. CLAY (D-MO), 2016-02-01T00:00:00.000Z
- Rep. Holding, George [R-NC-2] (R-NC), 2016-02-02T00:00:00.000Z
- Rep. Renacci, James B. [R-OH-16] (R-OH), 2016-02-02T00:00:00.000Z
- Rep. Jenkins, Lynn [R-KS-2] (R-KS), 2016-02-03T00:00:00.000Z
- Rep. Walorski, Jackie [R-IN-2] (R-IN), 2016-02-12T00:00:00.000Z
- Rep. MacArthur, Thomas [R-NJ-3] (R-NJ), 2016-02-12T00:00:00.000Z
- Rep. Paulsen, Erik [R-MN-3] (R-MN), 2016-02-23T00:00:00.000Z
- Rep. Ashford, Brad [D-NE-2] (D-NE), 2016-02-23T00:00:00.000Z
- Rep. Zinke, Ryan K. [R-MT-1] (R-MT), 2016-02-25T00:00:00.000Z
- JOHN DUNCAN (R-TN), 2016-02-25T00:00:00.000Z
- Rep. Thompson, Glenn [R-PA-15] (R-PA), 2016-02-26T00:00:00.000Z
- Rep. Gibbs, Bob [R-OH-7] (R-OH), 2016-02-26T00:00:00.000Z
- Rep. Guthrie, Brett [R-KY-2] (R-KY), 2016-02-26T00:00:00.000Z
- Rep. Bishop, Mike [R-MI-8] (R-MI), 2016-02-26T00:00:00.000Z
- PATRICK TIBERI (R-OH), 2016-02-26T00:00:00.000Z
- Rep. Meehan, Patrick [R-PA-7] (R-PA), 2016-02-26T00:00:00.000Z
- Rep. Nunes, Devin [R-CA-22] (R-CA), 2016-02-26T00:00:00.000Z
- Rep. Reichert, David G. [R-WA-8] (R-WA), 2016-02-26T00:00:00.000Z
- Rep. Allen, Rick W. [R-GA-12] (R-GA), 2016-03-03T00:00:00.000Z
- Rep. Barletta, Lou [R-PA-11] (R-PA), 2016-03-03T00:00:00.000Z
- Rep. Marchant, Kenny [R-TX-24] (R-TX), 2016-03-03T00:00:00.000Z
- Rep. Olson, Pete [R-TX-22] (R-TX), 2016-03-15T00:00:00.000Z
- Sen. Cramer, Kevin [R-ND] (R-ND), 2016-03-15T00:00:00.000Z
- Rep. Latta, Robert E. [R-OH-5] (R-OH), 2016-03-15T00:00:00.000Z
- Rep. Amodei, Mark E. [R-NV-2] (R-NV), 2016-04-12T00:00:00.000Z
- Rep. Gohmert, Louie [R-TX-1] (R-TX), 2016-04-12T00:00:00.000Z
- Rep. Sessions, Pete [R-TX-17] (R-TX), 2016-04-12T00:00:00.000Z

## Related bills

- 114-hr-4294: SAVERS Act of 2015
- 114-hr-5621: To posthumously award a Congressional Gold Medal to Lawrence Eugene "Larry" Doby in recognition of his achievements and contributions to American major league…
- 114-hr-1190: Protecting Seniors' Access to Medicare Act of 2015
- 114-hr-160: Protect Medical Innovation Act of 2015
- 114-hr-1624: Protecting Affordable Coverage for Employees Act
- 114-hr-2992: Merchant Marine of World War II Congressional Gold Medal Act

## Sources
- [114-hr-4293 on Congress.gov](https://www.congress.gov/bill/114th-congress/house-bill/4293)

## Related
- [114-hr-4294: SAVERS Act of 2015](https://policyrisk.com/legislation/114-hr-4294)
- [114-hr-5621: To posthumously award a Congressional Gold Medal to Lawrence Eugene "Larry" Dob…](https://policyrisk.com/legislation/114-hr-5621)
- [114-hr-1190: Protecting Seniors' Access to Medicare Act of 2015](https://policyrisk.com/legislation/114-hr-1190)
- [114-hr-160: Protect Medical Innovation Act of 2015](https://policyrisk.com/legislation/114-hr-160)
- [114-hr-1624: Protecting Affordable Coverage for Employees Act](https://policyrisk.com/legislation/114-hr-1624)
- [114-hr-2992: Merchant Marine of World War II Congressional Gold Medal Act](https://policyrisk.com/legislation/114-hr-2992)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/114-hr-4293 (as of 2025-11-18).