U.S. Chamber Welcomes House Passage of Retirement Fairness for Charities and Educational Institutions Act

WASHINGTON, D.C. - Today, the U.S. Chamber of Commerce issued the following statement after the House of Representatives voted to pass H.R. 1013, the Retirement Fairness for Charities and Educational Institutions Act of 2025. The bill addresses the disparity in investment options between 401(k) and 403(b) plans by allowing 403(b) plans to invest in collective investment trusts (CITs) and insurance company separate accounts.

"Teachers, nurses, and nonprofit employees deserve access to the same range of retirement investment options in their 403(b) accounts that are available to other American workers who save for retirement through a 401(k) account," said Mike Flood, senior vice president of the Center for Capital Markets Competitiveness at the U.S. Chamber of Commerce. "We commend the members of the House for passing this important legislation that expands investment choice for American retirement savers."

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