This bill aims to protect retirement savings by enhancing retirement earnings, preventing discrimination in retirement benefits, safeguarding shareholder rights, and ensuring complete information is provided to retirement investors. It seeks to limit non-pecuniary factors in investment decisions, ensure unbiased service provider selection, define shareholder rights, and mandate comprehensive disclosures to retirement investors. The bill requires pension plans to provide notice and illustration before investing in non-designated options, impacting the information and options available to participants in employee retirement plans offering individual investment accounts. It will take effect on January 1, 2027, potentially affecting how individuals make investment decisions for their retirement savings.