Retirement Fairness for Charities and Educational Institutions Act of 2025

# Retirement Fairness for Charities and Educational Institutions Act of 2025 **What the bill does:** This bill would expand investment options available in 403(b) retirement plans—special retirement savings accounts designed for employees of nonprofits, public schools, charities, and religious institutions. Currently, these plans have limited investment choices. The bill would allow them to invest in "collective investment trusts" (pooled investment funds managed by banks or trust companies) and "insurance company separate accounts" (investment accounts run by insurance companies).

These are investment types already available in other retirement plans, so the bill essentially creates a more level playing field. **Who it affects:** The bill primarily affects employees working for nonprofits, public schools, colleges, charities, churches, and other religious organizations who have 403(b) retirement plans. It could also benefit plan administrators and financial institutions offering these services. **Current status:** The bill was introduced in the 119th Congress by Representative Frank Lucas (R-Oklahoma) and is currently in committee, meaning it hasn't yet been voted on by the full House of Representatives.