A bill to place restrictions on the promotion by the Department of Labor and other Federal agencies and instrumentalities of economically targeted investments in connection with employee benefit plans.

Read twice and referred to the Committee on Labor and Human Resources.

S.774 through Congress

S.774 keeps its number as it moves between the House and Senate.

SenateMay 9, 1995IntroducedOfficial record

Major milestones in the imported record. See all actions.

No House action is available in our imported record yet.

Separate related House measures (1)

These are different measures identified as related by Congress.gov. Their text and outcomes may differ; they are not the House stage of S.774.

Related House bill: H.R.1594 To place restrictions on the promotion by the Department of Labor and other Federal agencies and instrumentalities of economically targeted investments in connection with employee benefit plans.

Congressional Research Service

Official summary

Version 00 · Introduced in Senate · May 9, 1995

Expresses the sense of the Congress that economically targeted investments violate specified provisions of the Employee Retirement Income Security Act of 1974 (ERISA) relating to a fiduciary's responsibility to serve the interests of employee benefit plan participants and beneficiaries exclusively. Requires that the application of such ERISA provisions to employee benefit plan asset investments be determined without regard to a specified Department of Labor (DOL) interpretive bulletin or any other similar directive regarding economically targeted investments. Prohibits DOL officers or employees from traveling, lecturing, or otherwise expending DOL resources to promote, directly or indirectly, economically targeted investments. Amends ERISA to prohibit Federal agencies or instrumentalities from establishing or maintaining any clearinghouse or other database relating to economically targeted investments for employee benefit plans. Directs Federal agencies and instrumentalities to immediately terminate contracts or other arrangements which violate this Act.

Read the summary on Congress.gov

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People & committees

Who introduced it

Sen. Mack, Connie, III [R-FL] · R–FL

Committees

Health, Education, Labor, and Pensions Committee

2 cosponsorship records, including any withdrawals

Legislative record

Actions

A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.

May 9, 1995
Read twice and referred to the Committee on Labor and Human Resources.
May 9, 1995
Sponsor introductory remarks on measure. (CR S6352)
May 9, 1995
Introduced in Senate

Primary sources

Bill text & related measures

Text links open the official source. We currently store references to these documents.

Introduced in Senate · May 9, 1995 Formatted Text PDF

Related bills identified by Congress.gov

HR 1594 · To place restrictions on the promotion by the Department of Labor and other Federal agencies and instrumentalities of economically targeted investments in connection with employee benefit plans.

Source last updated: Apr 21, 2025. Consult Congress.gov for the current record.

AI Conversation Starters

Explore the bill from different angles

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Neutral evidence review

Objective

Analyze S.774 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

View full prompt & sources

Discuss S.774, 104th Congress: A bill to place restrictions on the promotion by the Department of Labor and other Federal agencies and instrumentalities of economically targeted investments in connection with employee benefit plans.

Official record: https://www.congress.gov/bill/104th-congress/senate-bill/774

Text version to examine: Introduced in Senate · 1995-05-09.

Official full text: https://www.congress.gov/104/bills/s774/BILLS-104s774is.htm

Imported record last updated by the source: 2025-04-21T12:26:10Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Analyze S.774 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

Fairness and public impact

Progressive lens

Examine S.774 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

View full prompt & sources

Discuss S.774, 104th Congress: A bill to place restrictions on the promotion by the Department of Labor and other Federal agencies and instrumentalities of economically targeted investments in connection with employee benefit plans.

Official record: https://www.congress.gov/bill/104th-congress/senate-bill/774

Text version to examine: Introduced in Senate · 1995-05-09.

Official full text: https://www.congress.gov/104/bills/s774/BILLS-104s774is.htm

Imported record last updated by the source: 2025-04-21T12:26:10Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine S.774 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

Institutions and government scope

Conservative lens

Examine S.774 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

View full prompt & sources

Discuss S.774, 104th Congress: A bill to place restrictions on the promotion by the Department of Labor and other Federal agencies and instrumentalities of economically targeted investments in connection with employee benefit plans.

Official record: https://www.congress.gov/bill/104th-congress/senate-bill/774

Text version to examine: Introduced in Senate · 1995-05-09.

Official full text: https://www.congress.gov/104/bills/s774/BILLS-104s774is.htm

Imported record last updated by the source: 2025-04-21T12:26:10Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine S.774 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

Individual rights and government power

Liberty lens

Examine S.774 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.

View full prompt & sources

Discuss S.774, 104th Congress: A bill to place restrictions on the promotion by the Department of Labor and other Federal agencies and instrumentalities of economically targeted investments in connection with employee benefit plans.

Official record: https://www.congress.gov/bill/104th-congress/senate-bill/774

Text version to examine: Introduced in Senate · 1995-05-09.

Official full text: https://www.congress.gov/104/bills/s774/BILLS-104s774is.htm

Imported record last updated by the source: 2025-04-21T12:26:10Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine S.774 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.