The U.S. House Financial Services Committee reported House passage of the Retirement Fairness for Charities and Educational Institutions Act by 295-128. The bill would allow 403(b) retirement plans to invest in collective investment trusts and insurance company separate accounts, extending access to options already available through 401(k) plans.
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The U.S. House Financial Services Committee reported that the House passed legislation to expand investment options for 403(b) retirement plans by a vote of 295-128. The Retirement Fairness for Charities and Educational Institutions Act, H.R. 1013, would remove regulatory barriers affecting plans serving workers in public schools, community health clinics and churches.
The bill would permit 403(b) plans to invest in collective investment trusts (CITs) and insurance company separate accounts. These options are already available through 401(k) plans, and extending access is intended to increase competition and give participants access to investments with lower costs. The House previously passed H.R. 1013 as part of H.R. 3383, the INVEST Act, on Dec. 11, 2025.
The U.S. House Financial Services Committee reported stakeholder endorsements for the bipartisan INVEST Act, passed by the House on 11 December 2025. Key measures include updates to the accredited investor framework, reduced regulatory friction for small companies, and retirement-related provisions aligning 403(b) plans with 401(k) plans…