U.S. Congress legislation · 119th Congress
HB2958: Balance the Scales Act
Status: In committee, February 20, 2026
To amend the Employee Retirement Income Security Act of 1974 to require that the Employee Benefit Security Administration submit an annual report to Congress on adverse interest agreements, and for other purposes.
What the bill says
To amend the Employee Retirement Income Security Act of 1974 to require that the Employee Benefit Security Administration submit an annual report to Congress on adverse interest agreements, and for other purposes.
From the committee substitute text, February 20, 2026:
A BILL To amend the Employee Retirement Income Security Act of 1974 to require that the Employee Benefit Security Administration submit an annual report to Congress on adverse interest agreements, and for other purposes. SECTION 1. Short title This Act may be cited as the Balance the Scales Act . SECTION 2. Report on adverse interest agreements (a) In general Section 504 of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1134 ) is amended by adding at the end the following: (f) Collaboration with plaintiff attorneys (1) In general In the event that the Secretary provides adverse assistance to an individual, prior to providing the adverse assistance, the Secretary shall-- (A) enter into a written agreement with the individual that details the nature and scope of such assistance, and (B) provide a copy of such agreement to any employer, plan sponsor, or fiduciary that may be directly and adversely impacted by such assistance. (2) Adverse assistance defined For purposes of this subsection, the term adverse assistance means assistance or advice, including the disclosure of information as described in subsection (a), that is directed specifically toward an attorney for potential use in a civil action under section 502(a). (3) Report (A) In general Not later than 60 days after the date of enactment of this subsection, and …
Sponsors
- Michael Rulli (R, HD-006) · primary sponsor
- Lisa McClain (R, HD-009)
Latest actions
- : Placed on the Union Calendar, Calendar No. 430.
- : Reported (Amended) by the Committee on Education and Workforce. H. Rept. 119-504.
- : Ordered to be Reported (Amended) by the Yeas and Nays: 19 - 16.
- : Committee Consideration and Mark-up Session Held
- : Referred to the House Committee on Education and Workforce.
- : Introduced in House
Subjects: Civil actions and liability, Employee benefits and pensions, Labor and Employment, Congressional oversight
Common questions
- What is HB2958?
- HB2958 is a bill in Congress (119th Congress): Balance the Scales Act.
- What does HB2958 do?
- In its own words: To amend the Employee Retirement Income Security Act of 1974 to require that the Employee Benefit Security Administration submit an annual report to Congress on adverse interest agreements, and for other purposes.
- What is the status of HB2958?
- In committee as of February 20, 2026. Latest action: Placed on the Union Calendar, Calendar No. 430. (February 20, 2026).
- Who sponsored HB2958?
- Michael Rulli (R, HD-006), with 1 co-sponsor.
- Where is the official record for HB2958?
- On the Congress website: https://www.congress.gov/bill/119th-congress/house-bill/2958
Source: official Congress record. Tracked by Delilah, AI for legislation across all 50 states and Congress.