HOUSE TO VOTE ON MEASURE TO ADVANCE RETIREMENT PLAN PARITY, INVESTOR DISCLOSURE, AND SENIOR PROTECTION

WASHINGTON, D.C. – The U.S. House of Representatives is expected to vote today on legislation that includes three bipartisan measures advocated by the Insured Retirement Institute (IRI) to establish parity for retirement plans used by teachers, hospital workers, clergy, and others, more effectively provide required disclosures to investors, and strengthen fraud protections for senior citizens.

The three measures are included in the Incentivizing New Ventures and Economic Strength Through Capital Formation (INVEST) Act of 2025, legislation comprising 20 separate bills that the House Financial Services Committee passed earlier this year. IRI supports passage of the INVEST Act.

Among the IRI-advocated measures is the Retirement Fairness for Charities and Educational Institutions Act, HR 1013, which provides 403(b) retirement plan participants access to the same cost-efficient investment options already available to all other employer-sponsored retirement plan participants. These retirement plans principally serve teachers, hospital workers, clergy, and non-profit employees.

The bill amends federal securities law to authorize the use of collective investment trusts (CITs) and unregistered insurance company separate accounts within 403(b) retirement savings plans.

“Retirement savers participating in other employer-sponsored retirement plans, such as 401(k) plans, have access to cost-effective collective investment trusts (CITs) and unregistered insurance company separate accounts,” said Wayne Chopus, President and CEO at IRI. “The legislation will provide parity for 403(b) plan participants and also allow plan providers increased flexibility to build more robust investment lineups with lower-cost options that preserve principal and provide protected guaranteed lifetime income solutions.”

The second IRI-supported measure, the Improving Disclosure for Investors Act, HR 2441, would direct the U.S. Securities and Exchange Commission (SEC) to issue a rule permitting the electronic delivery of, and access to, documents the SEC requires registered investment companies to provide investors while preserving an individual investor’s right to receive information by paper if preferred.

Electronic delivery provides a more widely accessible, cost-effective, and speedy means of conveying and receiving information than paper delivery. Using electronic delivery to communicate with investors also creates opportunities for the industry to provide dynamic, real-time information rather than static data, making it easier for consumers to find information at the level of detail they prefer.

The third IRI-supported measure, the Senior Security Act, HR 1469, would create an interdivisional task force at the SEC to investigate the challenges facing investors and determine meaningful recommendations to Congress about what other measures might be needed to increase protections for the most vulnerable Americans.

“We urge the House to pass the INVEST Act,” Chopus said. “If enacted into law, it will facilitate the greater use of protected, guaranteed lifetime income solutions in 403(b) retirement plans, boost protections to safeguard senior investors, and foster transparency and accessibility by permitting the electronic delivery of shareholder reports for all registered investment companies to investors.”

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Contact: Dan Zielinski