IB 
Union Calendar No. 430 
119TH CONGRESS 
2D SESSION 
H. R. 2958 
[Report No. 119–504] 
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 pur-
poses. 
IN THE HOUSE OF REPRESENTATIVES 
APRIL 17, 2025 
Mr. RULLI introduced the following bill; which was referred to the Committee 
on Education and Workforce 
FEBRUARY 20, 2026 
Additional sponsor: Mrs. MCCLAIN 
FEBRUARY 20, 2026 
Reported with an amendment, committed to the Committee of the Whole 
House on the State of the Union, and ordered to be printed 
[Strike out all after the enacting clause and insert the part printed in italic] 
[For text of introduced bill, see copy of bill as introduced on April 17, 2025] 
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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. 
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Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Balance the Scales Act’’. 
SEC. 2. REPORT ON ADVERSE INTEREST AGREEMENTS. 
(a) IN GENERAL.—Section 504 of the Employee Re-
tirement 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 Sec-
retary provides adverse assistance to an individual, 
prior to providing the adverse assistance, the Sec-
retary 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 pur-
poses of this subsection, the term ‘adverse assistance’ 
means assistance or advice, including the disclosure of 
information as described in subsection (a), that is di-
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rected 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 by December 31 of each year that begins 
after such date, the Secretary shall submit to 
Congress a report containing information on all 
agreements to provide adverse assistance in effect 
for the preceding fiscal year, including, in rela-
tion to each such agreement— 
‘‘(i) a copy of the agreement, with any 
information 
described 
in 
subparagraph 
(B)(ii) redacted; 
‘‘(ii) the date the agreement was en-
tered into; 
‘‘(iii) a detailed description of the na-
ture and scope of the assistance provided 
during the fiscal year, including— 
‘‘(I) the information shared, in-
cluding the source, type, and amount 
of the information, and the date on 
which such information was shared; 
‘‘(II) a log of verbal communica-
tions, including— 
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‘‘(aa) the date of each com-
munication; 
‘‘(bb) the parties engaged in 
such communication; 
‘‘(cc) the mode of commu-
nication; and 
‘‘(dd) the nature of any in-
formation shared; and 
‘‘(III) a log of meetings, includ-
ing— 
‘‘(aa) the date of each meet-
ing; 
‘‘(bb) the parties present at 
the meeting; 
‘‘(cc) mode of the meeting; 
and 
‘‘(dd) the purpose of such 
meeting and the nature of any in-
formation shared; and 
‘‘(iv) an explanation of how such 
agreement is consistent with the public pol-
icy of promoting the voluntary sponsorship 
of employee benefit plans subject to this Act. 
‘‘(B) IDENTIFYING INFORMATION.—The re-
port described under subparagraph (A)— 
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SEC. 3. PRIVATE PENSION PLANS AS INTEGRAL TO THE 
CONTINUED WELL-BEING AND SECURITY OF 
EMPLOYEES AND THEIR DEPENDANTS. 
Section 2 of the Employee Retirement Income Security 
Act of 1974 (29 U.S.C. 1001) is amended by adding at the 
end the following: 
‘‘(d) Congress finds that the retirement security of mil-
lions of employees and their dependents is directly impacted 
by the voluntary sponsorship and maintenance of pension 
plans. It is hereby declared to be a policy of this Act to 
promote, encourage, and facilitate the voluntary establish-
ment and maintenance of, and contribution to, such 
plans.’’. 
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Union Calendar No. 430 
119TH CONGRESS 
2D SESSION 
H. R. 2958 
[Report No. 119–504] 
A BILL 
To amend the Employee Retirement Income Secu-
rity Act of 1974 to require that the Employee 
Benefit Security Administration submit an an-
nual report to Congress on adverse interest 
agreements, and for other purposes. 
FEBRUARY 20, 2026 
Reported with an amendment, committed to the Com-
mittee of the Whole House on the State of the Union, 
and ordered to be printed 
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19:00 Feb 20, 2026
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