# 115-hr-2823: Affordable Retirement Advice for Savers Act

115-hr-2823, Affordable Retirement Advice for Savers Act, is a 115th Congress bill sponsored by Rep. Roe, David P. [R-TN-1] (R-TN); status Placed on the Union Calendar, Calendar No. 443. (as of 2025-11-18).

- Canonical: https://policyrisk.com/legislation/115-hr-2823
- As of: 2025-11-18
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 115-hr-2823
- Congress: 115
- Title: Affordable Retirement Advice for Savers Act
- Status: Placed on the Union Calendar, Calendar No. 443.
- Introduced: 2017-06-08
- Sponsor: Rep. Roe, David P. [R-TN-1] (R-TN)
- Cosponsors: 30
- Policy area: Labor and Employment
- Touches household money: no
- Last recorded action: 2025-11-18

## Summary

Affordable Retirement Advice for Savers Act This bill amends the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code (IRC) to modify requirements related to fiduciaries and the provision of investment advice for pension and retirement plans. (Under current law, a person who provides investment advice has a fiduciary obligation that requires the person to provide advice in the sole interest of plan participants and beneficiaries.) The bill nullifies several regulations that are commonly referred to as "the fiduciary rule" and broadened the types of investment advice that impose a fiduciary obligation with respect to the plans. The bill defines "investment advice" as a recommendation that relates to: the advisability of acquiring, holding, disposing, or exchanging any moneys or other property of a plan by the plan, participants, or 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; 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 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 advisor to comply with fiduciary standards; 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 establishes exemptions to the prohibited transactions rules under ERISA and the IRC for advice that meets certain requirements for reasonable compensation, disclosures, and recommendations that are in the best interest of the plan or recipient of the advice.

## Cosponsors (30)

- JOHN DUNCAN (R-TN), 2017-06-22T00:00:00.000Z
- Rep. Kelly, Mike [R-PA-16] (R-PA), 2017-06-22T00:00:00.000Z
- Rep. Barletta, Lou [R-PA-11] (R-PA), 2017-06-23T00:00:00.000Z
- Sen. Budd, Ted [R-NC] (R-NC), 2017-06-27T00:00:00.000Z
- Rep. Stefanik, Elise M. [R-NY-21] (R-NY), 2017-06-27T00:00:00.000Z
- Rep. Paulsen, Erik [R-MN-3] (R-MN), 2017-06-28T00:00:00.000Z
- Rep. Marchant, Kenny [R-TX-24] (R-TX), 2017-06-28T00:00:00.000Z
- Rep. Thompson, Glenn [R-PA-15] (R-PA), 2017-07-17T00:00:00.000Z
- Rep. Foxx, Virginia [R-NC-5] (R-NC), 2017-07-17T00:00:00.000Z
- Rep. Guthrie, Brett [R-KY-2] (R-KY), 2017-07-17T00:00:00.000Z
- Rep. Rooney, Francis [R-FL-19] (R-FL), 2017-07-19T00:00:00.000Z
- Rep. Ferguson, A. Drew, IV [R-GA-3] (R-GA), 2017-07-19T00:00:00.000Z
- Rep. Estes, Ron [R-KS-4] (R-KS), 2017-07-19T00:00:00.000Z
- Rep. Messer, Luke [R-IN-6] (R-IN), 2017-10-24T00:00:00.000Z
- Rep. Roskam, Peter J. [R-IL-6] (R-IL), 2017-06-08T00:00:00.000Z
- Rep. Walberg, Tim [R-MI-5] (R-MI), 2017-06-08T00:00:00.000Z
- Rep. Wilson, Joe [R-SC-2] (R-SC), 2017-06-08T00:00:00.000Z
- Rep. Grothman, Glenn [R-WI-6] (R-WI), 2017-06-12T00:00:00.000Z
- SAM JOHNSON (R-TX), 2017-06-12T00:00:00.000Z
- Sen. Marshall, Roger [R-KS] (R-KS), 2017-06-12T00:00:00.000Z
- Rep. Sessions, Pete [R-TX-17] (R-TX), 2017-06-12T00:00:00.000Z
- Rep. LaHood, Darin [R-IL-16] (R-IL), 2017-06-12T00:00:00.000Z
- JOE BARTON (R-TX), 2017-06-12T00:00:00.000Z
- Rep. Latta, Robert E. [R-OH-5] (R-OH), 2017-06-12T00:00:00.000Z
- Rep. Bishop, Mike [R-MI-8] (R-MI), 2017-06-15T00:00:00.000Z
- Rep. Rokita, Todd [R-IN-4] (R-IN), 2017-06-15T00:00:00.000Z
- Rep. Allen, Rick W. [R-GA-12] (R-GA), 2017-06-22T00:00:00.000Z
- Rep. Renacci, James B. [R-OH-16] (R-OH), 2017-06-22T00:00:00.000Z
- Rep. Mitchell, Paul [R-MI-10] (R-MI), 2017-06-22T00:00:00.000Z
- Rep. Fleischmann, Charles J. "Chuck" [R-TN-3] (R-TN), 2017-06-22T00:00:00.000Z

## Related bills

- 115-hr-5499: Stephen Michael Gleason Congressional Gold Medal Act
- 115-hr-1057: STOP Act of 2017
- 115-hr-849: Protecting Seniors Access to Medicare Act
- 115-hr-184: Protect Medical Innovation Act of 2018
- 115-hr-1697: Israel Anti-Boycott Act
- 115-hr-36: Pain-Capable Unborn Child Protection Act

## Sources
- [115-hr-2823 on Congress.gov](https://www.congress.gov/bill/115th-congress/house-bill/2823)

## Related
- [115-hr-5499: Stephen Michael Gleason Congressional Gold Medal Act](https://policyrisk.com/legislation/115-hr-5499)
- [115-hr-1057: STOP Act of 2017](https://policyrisk.com/legislation/115-hr-1057)
- [115-hr-849: Protecting Seniors Access to Medicare Act](https://policyrisk.com/legislation/115-hr-849)
- [115-hr-184: Protect Medical Innovation Act of 2018](https://policyrisk.com/legislation/115-hr-184)
- [115-hr-1697: Israel Anti-Boycott Act](https://policyrisk.com/legislation/115-hr-1697)
- [115-hr-36: Pain-Capable Unborn Child Protection Act](https://policyrisk.com/legislation/115-hr-36)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/115-hr-2823 (as of 2025-11-18).