Restoring Integrity in Fiduciary Duty Act

This bill clarifies that retirement plan fiduciaries must prioritize financial factors - such as investment risk and return - when selecting investments or voting on shareholder matters. It prohibits using nonfinancial goals (like environmental or social objectives) to choose investments or votes unless financial factors are equal, requiring detailed documentation for such decisions. For shareholder voting, it allows plans to adopt "safe harbor" policies that limit voting to proposals with material economic impact (e.g., when a plan holds significant stakes in a company), while mandating records of all voting activity. The law applies to ERISA-covered retirement plans (like 401(k)s), taking effect for investment decisions one year after enactment and for shareholder voting starting January 1, 2026.