American Council of Life Insurers (ACLI) Applauds House Passage of Bill Expanding Options for 403(b) Plan Retirement Savers

WASHINGTON - American Council of Life Insurers (ACLI) Executive Vice President & Chief Advocacy Officer Jill Kozeny made the following comments on the Retirement Fairness for Charities and Educational Institutions Act (H.R. 1013) that passed the U.S. House of Representatives today:

"Life insurers want to help more Americans get the tools they need for a secure retirement. For too long, teachers, hospital workers, nonprofit employees, and other 403(b) savers have lacked the savings options available to 401(k) and 457 plan participants. The Retirement Fairness for Charities and Educational Institutions Act has bipartisan support because it levels the playing field for these essential workers and gives them more ways to save."

More on H.R. 1013 is available here.

The American Council of Life Insurers (ACLI) drives public policy and advocacy on behalf of the life insurance industry. Our 275 member companies provide products like life insurance, workplace benefits, annuities, long-term care, and more to help 90 million American families protect the lives they've built, support the people who depend on them, and prepare for a secure retirement. As the single largest investor in U.S. corporate bonds, America's life insurers invest $8.9 trillion across the U.S. economy.