# 119-s-928: PARSA

119-s-928, PARSA, is a 119th Congress bill sponsored by Sen. Banks, Jim [R-IN] (R-IN); status introduced; PRIA reads it as touching household money (as of 2025-12-21).

- Canonical: https://policyrisk.com/legislation/119-s-928
- As of: 2025-12-21
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-s-928
- Congress: 119
- Title: PARSA
- Status: introduced
- Introduced: 2025-03-11
- Sponsor: Sen. Banks, Jim [R-IN] (R-IN)
- Cosponsors: 1
- Policy area: Labor and Employment
- Touches household money: yes
- Last recorded action: 2025-12-21

## Summary

**Ban on new plan investments in foreign adversary and sanctioned entities.** This bill would prohibit fiduciaries of employee retirement plans covered by ERISA from making new investments, loans, transfers, or data sharing with those entities and would add disclosure rules plus narrow exceptions for existing holdings and contracts. - Workers and families would get clearer information about risky holdings. Plans must disclose identities of any sanctioned or foreign adversary entity investments, aggregate values, reasons for listing, and the fiduciary's rationale. - Plan fiduciaries would face a new duty to avoid transactions that involve covered entities they know or should know about, and they must follow specified safe-harbor steps to keep preexisting investments or contracts. - Preexisting investments and binding contracts can continue only under limited conditions tied to disclosure and governance. The bill requires implementing regulations within 180 days and that rules take effect no later than one year after enactment.

## Cosponsors (1)

- Sen. Moreno, Bernie [R-OH] (R-OH), 2025-03-14T00:00:00.000Z

## Provisions PRIA read

- Required disclosures for plan holdings: benefit, low. This bill would require retirement plans to report holdings in sanctioned and foreign adversary entities. If a plan already holds such investments, it could keep them only if the manager files specific disclosures. Managers would report total values, list each entity and which federal list names it…
- New limits on retirement plan deals: mixed, medium. This bill would make it a breach of fiduciary duty for retirement plan managers to let plans buy from, lend to, or provide services to certain "covered" foreign or sanctioned entities. It would also bar sending plan money or participant data to those covered entities. The bill would define which co…

## Related bills

- 119-s-4952: Protecting American Taxpayers Act
- 119-s-4378: Protecting American Taxpayers Act
- 119-s-1748: Kids Online Safety Act
- 119-s-4983: Harry Reid Immigration Stabilization Act
- 119-s-292: Educational Choice for Children Act of 2025
- 119-s-3752: SAVE America Act

## Sources
- [119-s-928 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-bill/928)

## Related
- [119-s-4952: Protecting American Taxpayers Act](https://policyrisk.com/legislation/119-s-4952)
- [119-s-4378: Protecting American Taxpayers Act](https://policyrisk.com/legislation/119-s-4378)
- [119-s-1748: Kids Online Safety Act](https://policyrisk.com/legislation/119-s-1748)
- [119-s-4983: Harry Reid Immigration Stabilization Act](https://policyrisk.com/legislation/119-s-4983)
- [119-s-292: Educational Choice for Children Act of 2025](https://policyrisk.com/legislation/119-s-292)
- [119-s-3752: SAVE America Act](https://policyrisk.com/legislation/119-s-3752)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-s-928 (as of 2025-12-21).