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HD 3025

An Act requiring administrators of certain retirement plans to disclose conflicts of interest

194th Legislature (2025-2026) Introduced by Mike Brady and 9 co-sponsors

Summary of HD 3025: An Act Requiring Retirement Plan Administrators to Disclose Conflicts of Interest OverviewThis proposed bill, introduced on November 29, 2025, would require adm

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Bill Summary · HD 3025

Summary of HD 3025: An Act Requiring Retirement Plan Administrators to Disclose Conflicts of Interest

Overview

This proposed bill, introduced on November 29, 2025, would require administrators of certain retirement plans to disclose any potential conflicts of interest to plan participants. The bill aims to increase transparency and ensure that retirement plan participants have the information they need to make informed decisions about their investments and savings.

Key Provisions

  • Disclosure Requirement: The bill would mandate that administrators of 401(k), 403(b), and other similar retirement plans disclose in writing any financial interests, business relationships, or other potential conflicts of interest they may have.
  • Timing of Disclosure: Plan administrators would be required to provide this conflict of interest disclosure:
    • At the time a participant enrolls in the retirement plan
    • Annually thereafter for as long as the participant is enrolled
    • Whenever a new potential conflict of interest arises
  • Penalty for Non-Compliance: Failure to comply with the disclosure requirement could result in civil penalties of up to $1,000 per violation, to be enforced by the Department of Labor.

Potential Impact

  • Increased Transparency: The bill is intended to give retirement plan participants a clearer understanding of any financial incentives or competing interests their plan administrators may have. This could help participants make more informed choices about how to invest their retirement savings.
  • Potential Cost Savings: By shining a light on potential conflicts, the bill may motivate plan administrators to minimize or eliminate arrangements that could compromise their fiduciary duty to plan participants. This could lead to reduced fees and better investment options for retirement savers.
  • Expanded Fiduciary Responsibilities: The bill would effectively expand the fiduciary obligations of retirement plan administrators, requiring them to proactively disclose information that could impact their ability to act solely in the best interests of participants.

Overall, this bill aims to enhance retirement plan transparency and accountability in order to better protect the financial security of American workers saving for the future.

Compiled from official sources — confirm details with the bill’s official record.

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