H.R. 1013 · Where this bill is now
Waiting for a House vote
Approved by committee Nov 28, 2025; no House vote yet
What this bill does
In plain words · AI-written from the official summaryExpands investment options for nonprofit retirement plans
This bill makes a change to 403(b) retirement plans, which are special retirement savings accounts for people who work at public schools, charities, and churches. It would let these plans invest money in two new types of investments: collective investment trusts (which are pools of money managed by banks or trust companies) and insurance company separate accounts. Right now, 403(b) plans have more limited choices about where they can put retirement savings.
How it affects you
If you work at a public school, charity, or church with a 403(b) retirement plan, this could mean your plan would have more investment options to choose from when you're saving for retirement. Your employer might be able to offer you a wider range of choices for where your retirement money gets invested.
Read the official summary (Introduced in House, Feb 5, 2025)
Retirement Fairness for Charities and Educational Institutions Act of 2025
This bill allows 403(b) retirement plans (i.e., retirement plans designed for certain employees of public schools, charities, and churches) to invest in collective investment trusts, which are a group of pooled investment assets held by a bank or trust company, and in insurance company separate accounts.
Written by AI (Claude) using only the official summary by the Congressional Research Service, the Library of Congress’s nonpartisan research staff. It can miss nuance, so check the official summary and the bill text for details.
1st SessionH. R. 1013
A BILL
Retirement Fairness for Charities and Educational Institutions Act of 2025
Sponsor: Rep. Frank D. Lucas (R-OK-3) · Introduced Feb 5, 2025 · Finance and Financial Sector · 2 versions of the text
Sources: Congress.gov actions and votes · bill text from GovInfo · latest official action Nov 28, 2025: “Placed on the Union Calendar, Calendar No. 340.”