Why it Matters

H.R. 1013 would allow 403(b) retirement plans, which cover eligible public-school, charity, and church employees, to invest in collective investment trusts (CITs). The House Rules Committee has scheduled a general hearing for November 9 on the Retirement Fairness for Charities and Educational Institutions Act of 2025, chaired by Rep. Virginia Foxx (R-NC-5), with Rep. Jim McGovern (D-MA-2) as Ranking Member. ​

Broader Context

The bill previously passed the House as part of the INVEST Act by a 302–123 vote, and was subsequently referred to a Senate committee.

At least 14 organizations reported lobbying on H.R. 1013 or its Senate companion S. 424 across filings from the fourth quarter of 2025 through the third quarter of 2026, with the Securities Industry and Financial Markets Association reporting the largest total filing amounts of the group at $8,810,000 across four quarters. Other active filers include the Investment Company Institute, Ameriprise Financial Inc., TIAA, and Prudential Financial Inc.

The Bottom Line

The Rules Committee has scheduled a hearing on H.R. 1013 for November 9, and the House Financial Services Committee previously reported the bill in H. Rept. 119-390. The Senate companion, S. 424, remains in committee, so Senate action would be required for the bill to reach the president.

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